Market Overview:

The global AI in Video Analytics market is expected to grow at a significant rate over the forecast period of 2021-2028. Video analytics refers to the use of computer algorithms to analyze video data from surveillance cameras to extract meaningful insights. The increasing demand for advanced security and surveillance systems and the growing adoption of cloud-based solutions are driving the growth of the AI in Video Analytics market.

Meaning:

AI in Video Analytics refers to the application of artificial intelligence technology to analyze video data from surveillance cameras. The use of AI in video analytics enables more efficient and effective surveillance, improving security and safety in a variety of industries. Video analytics can be used to detect and prevent crimes, monitor traffic flow, and even analyze customer behavior in retail stores.

Executive Summary:

The AI in Video Analytics market is expected to grow at a significant rate over the forecast period, driven by the increasing demand for advanced security and surveillance systems and the growing adoption of cloud-based solutions. The market is characterized by intense competition among key players, with the majority of the market share held by a few major players. North America is expected to dominate the market, followed by Europe and Asia-Pacific. The market is segmented by component, deployment mode, application, and region.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights:

• The global AI in Video Analytics market is expected to grow at a CAGR of XX% over the forecast period of 2021-2028.
• The market is driven by the increasing demand for advanced security and surveillance systems and the growing adoption of cloud-based solutions.
• North America is expected to dominate the market, followed by Europe and Asia-Pacific.
• The market is characterized by intense competition among key players, with the majority of the market share held by a few major players.
• The market is segmented by component, deployment mode, application, and region.

Market Analysis:

The AI in Video Analytics market is experiencing significant growth due to the increasing demand for advanced security and surveillance systems and the growing adoption of cloud-based solutions. The market is characterized by intense competition among key players, with the majority of the market share held by a few major players. The market is segmented by component, deployment mode, application, and region.

Market Drivers:

• Increasing demand for advanced security and surveillance systems
• Growing adoption of cloud-based solutions
• Rising demand for real-time surveillance and analytics
• Growing trend of smart cities

Market Restraints:

• High initial investment and maintenance costs
• Concerns regarding data privacy and security
• Lack of awareness about the benefits of AI in video analytics

Market Opportunities:

• Increasing adoption of artificial intelligence and machine learning
• Growing demand for intelligent transportation systems
• Increasing adoption of video analytics in retail and healthcare industries

Market Dynamics:

The AI in Video Analytics market is driven by the increasing demand for advanced security and surveillance systems and the growing adoption of cloud-based solutions. The market is also influenced by factors such as rising demand for real-time surveillance and analytics, the growing trend of smart cities, and increasing adoption of artificial intelligence and machine learning. However, the market is restrained by high initial investment and maintenance costs, concerns regarding data privacy and security, and lack of awareness about the benefits of AI in video analytics.

Regional Analysis:

North America is expected to dominate the AI in Video Analytics market, followed by Europe and Asia-Pacific. The growth in North America is driven by the presence of major players and the increasing adoption of video analytics in the region. Europe is also expected to grow at a significant rate due to the increasing adoption of AI and machine learning technologies. Asia-Pacific is expected to experience the highest growth rate due to the growing trend of smart cities and increasing demand for advanced security and surveillance systems.

Competitive Landscape:

Leading companies in the AI in Video Analytics Market:

1. IBM Corporation
2. Cisco Systems, Inc.
3. Honeywell International Inc.
4. Axis Communications AB
5. AllGoVision Technologies Pvt. Ltd.
6. Agent Video Intelligence Ltd.
7. PureTech Systems Inc.
8. BriefCam Ltd.
9. Gorilla Technology Group
10. IntelliVision Technologies Corp.

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation:

The AI in Video Analytics market is segmented by component, deployment mode, application, and region.

By Component:

• Software
• Services

By Deployment Mode:

• On-premises
• Cloud-based

By Application:

• Intrusion Detection
• Facial Recognition
• License Plate Recognition
• Traffic Monitoring
• Incident Detection and Response
• Others

By Region:

• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America

Category-wise Insights:

The software segment holds the largest share in the AI in Video Analytics market, due to the increasing demand for advanced video analytics software solutions. The cloud-based deployment mode is also expected to grow at a significant rate, driven by the growing adoption of cloud-based solutions across various industries. The intrusion detection application is expected to dominate the market, followed by facial recognition and license plate recognition.

Key Benefits for Industry Participants and Stakeholders:

• Improved security and surveillance
• Real-time monitoring and analytics
• Increased operational efficiency
• Enhanced customer experience
• Cost savings

SWOT Analysis:

Strengths:

• Growing adoption of artificial intelligence and machine learning
• Increasing demand for advanced security and surveillance systems
• Rising demand for real-time surveillance and analytics

Weaknesses:

• High initial investment and maintenance costs
• Concerns regarding data privacy and security
• Lack of awareness about the benefits of AI in video analytics

Opportunities:

• Increasing adoption of video analytics in retail and healthcare industries
• Growing demand for intelligent transportation systems
• Increasing adoption of artificial intelligence and machine learning

Threats:

• Intense competition among key players
• Rapidly changing technology landscape
• Stringent government regulations

Market Key Trends:

• Growing adoption of cloud-based solutions
• Increasing use of AI and machine learning technologies
• Rising demand for intelligent transportation systems

Covid-19 Impact:

The Covid-19 pandemic has had a significant impact on the AI in Video Analytics market. The pandemic has led to an increased demand for advanced security and surveillance systems, as businesses and governments seek to ensure the safety of their employees and citizens. The pandemic has also accelerated the adoption of cloud-based solutions, as remote work becomes more prevalent.

Key Industry Developments:

• In October 2020, IBM Corporation announced the launch of its new Watson Works solutions, which include AI-powered video analytics capabilities.
• In March 2021, Hikvision Digital Technology Co., Ltd. launched its new Hikvision AcuSense Deep Learning NVRs, which include advanced video analytics capabilities.
• In April 2021, Cisco Systems, Inc. announced the launch of its new Cisco SecureX platform, which includes advanced video analytics capabilities.

Analyst Suggestions:

Industry analysts suggest that the AI in Video Analytics market is expected to grow at a significant rate over the forecast period, driven by the increasing demand for advanced security and surveillance systems and the growing adoption of cloud-based solutions. Analysts also recommend that companies focus on strategic partnerships, collaborations, and mergers and acquisitions to expand their market presence.

Future Outlook:

The AI in Video Analytics market is expected to continue to grow at a significant rate over the forecast period, driven by the increasing demand for advanced security and surveillance systems and the growing adoption of cloud-based solutions. The market is expected to be characterized by intense competition among key players, with the majority of the market share held by a few major players.