Video Analytics Market Report Scope & Overview:

The Video Analytics Market size was valued at USD 9.14 billion in 2023 and is expected to grow to USD 38.89 billion by 2031 and grow at a CAGR of 19.84% over the forecast period of 2024-2031.

Security concerns are a major boost, with video analytics offering a powerful tool for intrusion detection, having a 90% accuracy rate in identifying suspicious activity compared to traditional manual monitoring methods which achieve a mere 40%. Businesses are leveraging this technology for operational efficiency as well. In the retail sector, video analytics with traffic pattern recognition can optimize store layout for a 15% increase in customer conversion rates.

Additionally, the rise of smart cities initiatives is propelling market growth. By 2025, it's estimated that 60% of cities globally will be implementing video analytics for traffic management and public safety, creating a significant demand for these solutions. This confluence of security needs, operational optimization, and smart city advancements is fuelling the immense potential of the Video Analytics Market.

Video Analytics Market Revenue Analysis

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Market Dynamics

Key Drivers:

  • Expanding requirements in the field of transport and logistics

In the logistics and transport sector, video surveillance has become increasingly common. A number of the many advantages of video analysis for transport and logistics include a reduction in crowd control, behaviour analysis, enhanced safety measures, incident recording or blind spots detection. With the use of video analytics, this market for commuters can be enhanced and expanded to increase safety.

  • Growing use of Drone-Based Video Analytics


  • Government regulations concerning the surveillance of closed-circuit television

The wide range of possibilities of this technology, businesses, governments and organisations are integrating video analysis into their video surveillance systems. These tools are capable of capturing and analysing video in the field at any time. For a number of different things, such as ANPR, population estimation and facial recognition, it is used. There was a repeated concern about the privacy of residents, notwithstanding its benefits.

  • High Costs


  • Using video analytics for forecasting information

 Forecasts for the next events are made by predictive analytics. It is using techniques from data mining, ML, AI, statistics and modelling. The video system is capturing important and useful signals, e.g. streams of data from the internet which are unstructured, videos or audios that contain key client behavioural characteristics. It is possible to collect atmospheric data by placing security cameras in public places.

  • Investments and Technological Innovations


  • High initial investment, installation, and maintenance expenses.

  • Complicated interoperability issues and support for outdated surveillance system equipment.

Impact of Economic Slowdown:

Despite the potential economic slowdown, the market for video analysis is experiencing strong growth and is expected to continue to grow significantly in the coming years. The market size is projected to reach $38.89 billion by 2031, with a notable Compound Annual Growth Rate (CAGR). Various factors are driving this growth, such as increasing adoption of video analytics in a variety of sectors, rising concerns about security and safety due to the strong demand for Wi-Fi enabled wireless services.

In view of the introduction of new technology and presence of major companies in the region, North America is expected to retain its leading market share over the forecast period. The retail industry, in particular, is anticipated to exhibit the highest CAGR due to businesses leveraging video analytics to enhance customer experience, improve operational efficiency, and make data-driven decisions.

Impact of Russia Ukraine War:

The Russia-Ukraine crisis has had a profound impact on various sectors globally, including potential repercussions for the video analytics market. While it is not easy to obtain specific information on the video analytics market, we can infer potential impacts by examining broader market trends and disruptions. First, the crisis has caused significant disruptions in world supply chains that have affected sectors dependent upon technology and digital infrastructure. This disruption could have a negative impact on the video analytics market, which would affect availability of necessary components and higher operating costs. Secondly, the conflict has resulted in corporate actors reevaluating their presence in Russia, with many Western companies pulling back. In the affected regions, this shift could have an impact on market dynamics and availability of services related to video analysis. In particular, it is a vital tool for data analysis that enables operators and warfighters to understand the increasing volume and scope of information generated by many different systems, weapons and soldiers on the ground.

Market Segmentation Analysis:

By Type:

Within the video analytics market, a key segmentation lies in the type server-based and edge-based analytics. Traditionally, server-based systems held the dominant share, accounting for roughly 70% of the market in 2023. This dominance stemmed from their ability to handle complex video processing tasks and centralize data storage. However, the tide is shifting. Edge-based analytics, processing data directly on cameras or local devices, is experiencing explosive growth, projected to capture over 35% of the market share by 2028. This rise is attributed to several factors. Edge-based systems offer faster response times due to reduced latency, crucial for real-time applications like intrusion detection.

By Offerings:

The video analytics market is bifurcated into two distinct offerings software and services. The software segment, capturing around 65% of the market share, offers the core video analytics engine. This includes pre-built algorithms for tasks like facial recognition, anomaly detection, and traffic monitoring.  These software solutions cater to organizations with in-house expertise to integrate and manage the video analytics system. Conversely, the services segment, accounting for the remaining 35% share, focuses on providing a comprehensive solution. This encompasses not just the software license but also includes system design, installation, customization, and ongoing maintenance.

By Deployment Type:

The video analytics market bifurcates by deployment model into cloud and on-premises solutions. While on-premises held the dominant position in 2022 with roughly 52% market share, a shift is underway. Cloud deployment is projected to experience a higher CAGR throughout the forecast period. This surge is attributed to the rising adoption of cloud-based software, particularly among small and medium-sized enterprises (SMEs) and startups. These businesses are drawn to the cloud's scalability, affordability, and minimal upfront investment compared to on-premises infrastructure. Additionally, advancements in security protocols are alleviating concerns around data privacy, further propelling cloud adoption within the video analytics market.

Market Segmentation:

By Type:

  • Server-based

  • Edge-based

By Offering:

  • Software

  • Services

By Deployment Model:

  • Cloud

  • On-premises

By Vertical:

  • Banking, financial services, and insurance (BFSI)

  • Critical Infrastructure

  • Education

  • Hospitality & Entertainment

  • Manufacturing

  • Government & Defense

  • Retail

  • Transportation & Logistics

  • Other Verticals

By Application:

  • Incident Detection

  • Intrusion Management

  • People/Crowd Counting

  • Traffic Monitoring

  • Automatic Number Plate Recognition

  • Facial Recognition

  • Other Applications

Video Analytics Market Segmentation Analysis

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The Video Analytics Market is a global phenomenon with regional variations in dominance. Currently, North America holds the maximum share, accounting for roughly 40% of the market in 2023. This lead is attributed to factors like strong early adoption of video surveillance technology, a focus on security and public safety, and a presence of major industry players like Cisco and Honeywell. However, the Asia Pacific region is experiencing the fastest growth, projected to reach a staggering CAGR of over 21% by 2031. This surge is driven by rapid urbanization, increasing government investments in smart cities, and a growing security consciousness in countries like China and India. Europe remains a significant player, but with a more mature market focused on optimizing existing video surveillance infrastructure. This regional analysis paints a picture of a dynamic Video Analytics Market, with established regions like North America maintaining a strong presence while emerging economies in Asia Pacific fuel the future growth.  


North America

  • US

  • Canada

  • Mexico


  • Eastern Europe

    • Poland

    • Romania

    • Hungary

    • Turkey

    • Rest of Eastern Europe

  • Western Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Netherlands

    • Switzerland

    • Austria

    • Rest of Western Europe

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Singapore

  • Australia

  • Rest of Asia Pacific

Middle East & Africa

  • Middle East

    • UAE

    • Egypt

    • Saudi Arabia

    • Qatar

    • Rest of Middle East

  • Africa

    • Nigeria

    • South Africa

    • Rest of Africa

Latin America

  • Brazil

  • Argentina

  • Colombia

  • Rest of Latin America


The major key players are Allgovision Technologies Pvt. Ltd., Aventura technologies, inc., Axis communications ab, Cisco Systems, inc., Honeywell international inc., Intellivision technologies corp., international business machines corporation, Puretech systems inc., Qognify, Verint systems inc. and Other Players

Honeywell International Inc-Company Financial Analysis

Company Landscape Analysis

Recent Developments:

  • In March 2022, Cisco Meraki introduced an expanded range of Internet of Things and local area networking solutions that incorporate innovation technologies to enhance the needs of today's heterogeneous workforce, providing more intelligent and secured workplaces. Ensuring exceptional user, employee and customer experiences continues to be a key priority for today's fast changing business environment that is characterized by the shift from traditional methods of operation towards digitised operations. Cisco Meraki's expansion of its technology portfolio makes it easy for it to provide.

  • March 2023: Irisity AB, a provider of advanced video analysis technology, and Axis Communications have joined forces to develop an advanced surveillance camera equipped with artificial intelligence capabilities. This partnership brings together the expertise of Irisity in the field of AI powered video analysis with Axis Communications surveillance camera technology, providing enhanced security and intelligence capabilities.

Video Analytics Market Report Scope:
Report Attributes Details
Market Size in 2023  US$ 9.14 Billion
Market Size by 2031  US$ 38.89 Billion
CAGR  CAGR 19.84% From 2024 to 2031
Base Year  2023
Forecast Period  2024-2031
Historical Data  2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (Server-based, Edge-based)
• By Offering (Software, Services)
• By Deployment Model (Cloud, On-premises)
• By Vertical (Banking, financial services, and insurance (BFSI), Critical Infrastructure, Education, Hospitality & Entertainment, Manufacturing, Government & Defense, Retail, Transportation & Logistics, Other Verticals)
• By Application (Incident Detection, Intrusion Management, People/Crowd Counting, Traffic Monitoring, Automatic Number Plate Recognition, Facial Recognition, Other Applications)
Regional Analysis/Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Company Profiles Allgovision Technologies Pvt. Ltd., Aventura technologies, inc., Axis communications ab, Cisco Systems, inc., Honeywell international inc., Intellivision technologies corp., international business machines corporation, Puretech systems inc., Qognify, Verint systems inc.
Key Drivers

• Burgeoning requirements in the field of transport and logistics

Market Restraints

• Government regulations concerning the surveillance of closed-circuit television

Frequently Asked Questions

 Ans: - The Video Analytics market size is estimated to reach USD 38.89 Bn by 2030.

Ans: - an increase in cyberattacks and data theft and government legislation governing CCTV surveillance.

Ans: - North America is expected to have the highest share of the video analytics market in 2023.

Ans: - The major key players are Allgovision Technologies Pvt. Ltd., Aventura technologies, inc., Axis communications ab, Cisco Systems, inc., Honeywell international inc., Intellivision technologies corp., international business machines corporation, Puretech systems inc., Qognify, Verint systems inc.

Ans: - Key Stakeholders Considered in the study are Raw material vendors, Regulatory authorities, including government agencies and NGOs, Commercial research, and development (R&D) institutions, Importers and exporters, etc.


1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

5. Impact Analysis

5.1 Impact of Russia-Ukraine Crisis

5.2 Impact of Economic Slowdown on Major Countries

5.2.1 Introduction

5.2.2 United States

5.2.3 Canada

5.2.4 Germany

5.2.5 France

5.2.6 UK

5.2.7 China

5.2.8 Japan

5.2.9 South Korea

5.2.10 India

6. Value Chain Analysis

7. Porter’s 5 Forces Model

8.  Pest Analysis

9. Video Analytics Market Segmentation, By Type

9.1 Introduction

9.2 Trend Analysis

9.3 Server-based

9.4 Edge-based

10. Video Analytics Market Segmentation, By Offering

10.1 Introduction

10.2 Trend Analysis

10.3 Software

10.4 Services

11. Video Analytics Market Segmentation, By Deployment Model

11.1 Introduction

11.2 Trend Analysis

11.3 Cloud

11.4 On-premises

12. Video Analytics Market Segmentation, By Vertical

12.1 Introduction

12.2 Trend Analysis

12.3 Banking, financial services, and insurance (BFSI)

12.4 Critical Infrastructure

12.5 Education

12.6 Hospitality & Entertainment

12.7 Manufacturing

12.8 Government & Defense

12.9 Retail

12.10 Transportation & Logistics

12.11 Other Verticals

13. Video Analytics Market Segmentation, By Application

13.1 Introduction

13.2 Trend Analysis

13.3 Incident Detection

13.4 Intrusion Management

13.5 People/Crowd Counting

13.6 Traffic Monitoring

13.7 Automatic Number Plate Recognition

13.8 Facial Recognition

13.9 Other Applications

14. Regional Analysis

14.1 Introduction

14.2 North America

14.2.1 USA

14.2.2 Canada

14.2.3 Mexico

14.3 Europe

14.3.1 Eastern Europe Poland Romania Hungary Turkey Rest of Eastern Europe

14.3.2 Western Europe Germany France UK Italy Spain Netherlands Switzerland Austria Rest of Western Europe

14.4 Asia-Pacific

14.4.1 China

14.4.2 India

14.4.3 Japan

14.4.4 South Korea

14.4.5 Vietnam

14.4.6 Singapore

14.4.7 Australia

14.4.8 Rest of Asia Pacific

14.5 The Middle East & Africa

14.5.1 Middle East UAE Egypt Saudi Arabia Qatar Rest of the Middle East

14.5.2 Africa Nigeria South Africa Rest of Africa

14.6 Latin America

14.6.1 Brazil

14.6.2 Argentina

14.6.3 Colombia

14.6.4 Rest of Latin America

15. Company Profiles

15.1 Allgovision Technologies Pvt. Ltd.

15.1.1 Company Overview

15.1.2 Financial

15.1.3 Products/ Services Offered

15.1.4 SWOT Analysis

15.1.5 The SNS View

15.2 Aventura technologies, inc.

15.2.1 Company Overview

15.2.2 Financial

15.2.3 Products/ Services Offered

15.2.4 SWOT Analysis

15.2.5 The SNS View

15.3 Axis communications ab

15.3.1 Company Overview

15.3.2 Financial

15.3.3 Products/ Services Offered

15.3.4 SWOT Analysis

15.3.5 The SNS View

15.4 Cisco Systems, inc.

15.4.1 Company Overview

15.4.2 Financial

15.4.3 Products/ Services Offered

15.4.4 SWOT Analysis

15.4.5 The SNS View

15.5 Honeywell international inc.

15.5.1 Company Overview

15.5.2 Financial

15.5.3 Products/ Services Offered

15.5.4 SWOT Analysis

15.5.5 The SNS View

15.6 Intellivision technologies corp.

15.6.1 Company Overview

15.6.2 Financial

15.6.3 Products/ Services Offered

15.6.4 SWOT Analysis

15.6.5 The SNS View

15.7 International business machines corporation

15.7.1 Company Overview

15.7.2 Financial

15.7.3 Products/ Services Offered

15.7.4 SWOT Analysis

15.7.5 The SNS View

15.8 Puretech systems inc.

15.8.1 Company Overview

15.8.2 Financial

15.8.3 Products/ Services Offered

15.8.4 SWOT Analysis

15.8.5 The SNS View

15.9 Qognify

15.9.1 Company Overview

15.9.2 Financial

15.9.3 Products/ Services Offered

15.9.4 SWOT Analysis

15.9.5 The SNS View

15.10 Verint systems inc.

15.10.1 Company Overview

15.10.2 Financial

15.10.3 Products/ Services Offered

15.10.4 SWOT Analysis

15.10.5 The SNS View

16. Competitive Landscape

16.1 Competitive Benchmarking

16.2 Market Share Analysis

16.3 Recent Developments

16.3.1 Industry News

16.3.2 Company News

16.3.3 Mergers & Acquisitions

17. Use Case and Best Practices

18. Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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