Increasing Adoption of Video Surveillance Systems Due to Growing Concerns Around Security has Propelled the Growth of the Video Analytics Market in the APAC Region!

With the rising concern over security, more and more corporations, government organizations, and people are choosing video surveillance systems. Video analytics can enhance the effectiveness of these systems by analyzing the video footage and providing insights that can help in identifying potential threats. The need for real-time video analytics tools that can analyze video content and deliver warnings and insights based on preset rules is expanding. This is especially true for industries like retail, education, transportation, and healthcare where video analytics may be required to enhance operations, customer experience, and safety. For instance, on 27 September 2021, BriefCam introduced video analytics enabled on deep learning cameras from axis communications. Moreover, the use of video analytics is being encouraged by many governments in the Asia-Pacific region in a number of industries, including transportation, law enforcement, and vital infrastructure. For example, the Indian government has launched several initiatives, such as the Smart Cities Mission and the Safe City Project, which are driving the adoption of video analytics solutions.

Further, the APAC Video Analytics Market is expected to grow at a strong CAGR of 26.0% during the forecast period (2022-2028). APAC is anticipated to emerge as the fastest-growing video analytics market primarily owing to the spur in demand for intelligent video analytics in China, India, and Japan coupled with huge video surveillance penetration and increasing awareness about the potential threats to individuals. Meanwhile, China constitutes to be the largest market in the APAC region, accredited to rising expenditure on video analytics technology and surging sales of video analytics devices, while Japan is the second largest player.

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Based on the component, the market is segmented into software, and services. Amongst these, the software segment dominated the video analytics market in 2021. This is mainly due to video analytics relying on advanced algorithms to extract useful information from video data. The video analytics software is designed to analyze and process video data in real-time for detection, tracking, and facial recognition.

By application, the market is segmented into crowd management, facial recognition, intrusion detection, license plate recognition, motion detection, and others. Facial recognition is expected to grow with a significant share of the market during the forecast period. The wide implementation of facial recognition technology in security and surveillance systems is the major factor contributing to segmental growth.

Global Video Analytics Market Segmentation

Market Insight, by Component

· Software

· Services

Market Insights, by Deployment

· On-premises

· Cloud

Market Insights, by Application

· Crowd Management

· Facial Recognition

· Intrusion Detection

· License Plate Recognition

· Motion Detection

· Others

Market Insights, by Industry

· BFSI

· Government

· Critical Infrastructure

· Education

· Retail & Logistics

· Travel and Transportation

· Healthcare

· Others

Market Insight, by Region

· North America

o U.S.

o Canada

o Rest of North America

· Europe

o U.K.

o Germany

o France

o Spain

o Italy

o Rest of Europe

· Asia-Pacific

o China

o Japan

o India

o South Korea

o Rest of APAC

· Rest of the World

Top Company Profiles

· Cisco Systems, Inc.

· Honeywell International Inc.

· Avigilon Corporation

· Huawei Technologies Co., Ltd.

· Canon Inc.

· Robert Bosch GmbH

· IBM

· Genetec Inc.

· AllGoVision Technologies Pvt. Ltd

· intuVision, Inc.