"Executive Summary AI Video Analytics Market: Growth Trends and Share Breakdown

CAGR Value

Global AI video analytics market size was valued at USD 9.12 billion in 2023 and is projected to reach USD 78.57 billion by 2031, with a CAGR of 30.89% during the forecast period of 2024 to 2031.

The AI Video Analytics Market report has been formed with the appropriate expertises that utilize established and unswerving tools and techniques such as SWOT analysis and Porter's Five Forces analysis to conduct the research study. Several company profiles included in this AI Video Analytics Market report can be pretty useful for making any decision associated with revenue, import, export and consumption. This report studies and evaluates facts and figures about the market segmentation very watchfully and represents it in the form of graphs for the better understanding of end user. This market report endows with CAGR value fluctuations during the forecast period for the market.

AI Video Analytics Market report eases the process of acquiring valuable market insights with the new skills, latest tools and innovative programs which is sure to aid in achieving business goals. AI Video Analytics Market report all-inclusively guesstimates general market conditions, the growth scenario in the market, likely restrictions, major industry trends, market size, market share, sales volume and future trends. The information and data quoted in this AI Video Analytics Market report is gathered from the truthful sources such as websites, journals, mergers, and annual reports of the companies. This AI Video Analytics Market report is very helpful for both regular and emerging market player in the AI Video Analytics Market industry as it provides thorough market insights.

Get a full overview of market dynamics, forecasts, and trends. Download the complete AI Video Analytics Market report: https://www.databridgemarketresearch.com/reports/global-ai-video-analytics-market

AI Video Analytics Market Summary

Segments

• Component: The AI video analytics market can be segmented based on components such as software and services. The software segment is expected to dominate the market as it provides advanced features like real-time monitoring, facial recognition, object tracking, and behavior analysis. On the other hand, the services segment includes managed services, professional services, and integration services which are crucial for the successful implementation of AI video analytics systems.

• Application: The market can also be segmented based on applications including facial recognition, intrusion detection, crowd management, traffic monitoring, and automatic number plate recognition (ANPR). Among these, facial recognition is anticipated to witness significant growth due to the increasing demand for security and surveillance in various sectors including government, retail, and banking.

• Deployment Mode: AI video analytics solutions can be deployed either on-premise or on the cloud. On-premise deployment offers better control and security over the data, making it suitable for organizations with strict data privacy regulations. On the other hand, cloud deployment provides scalability, flexibility, and cost-effectiveness, which is preferred by small and medium enterprises seeking AI video analytics solutions.

• End-User: Based on end-users, the market can be segmented into BFSI, government and defense, retail, healthcare, transportation, and others. The government and defense sector is expected to be a major contributor to the market growth, driven by the increasing adoption of AI video analytics for public safety, border control, and law enforcement applications.

Market Players

• IBM Corporation: IBM offers AI video analytics solutions that leverage machine learning and deep learning algorithms to provide real-time insights for security and surveillance applications.

• Cisco Systems, Inc.: Cisco provides AI-powered video analytics solutions that enhance security, operational efficiency, and customer experience across various industries.

• Honeywell International Inc.: Honeywell offers AI video analytics solutions for smart buildings, traffic management, and critical infrastructure protection, enabling organizations to improve safety and productivity.

• Axis Communications AB: Axis Communications specializes in network video solutions with built-in AI capabilities for intelligent video surveillance and analytics.

• AllGoVision Technologies Pvt. Ltd.: AllGoVision provides AI video analytics software for retail analytics, smart city applications, and traffic management, catering to diverse customer requirements.

The global AI video analytics market is projected to witness substantial growth driven by the increasing demand for advanced video surveillance systems and the integration of AI technologies for enhanced security and operational efficiency across various industries.

The AI video analytics market is poised for remarkable growth fueled by the burgeoning need for sophisticated video surveillance systems and the convergence of AI technologies to bolster security and operational effectiveness across diverse sectors. An emerging trend in the market pertains to the increasing focus on leveraging AI video analytics for advanced facial recognition applications, particularly in sectors such as government, retail, and banking. This shift is driven by the escalating requirements for stringent security measures and surveillance protocols to combat rising security threats and enhance overall safety measures within these industries.

Furthermore, the segmentation based on deployment mode, where organizations can opt for on-premise or cloud-based deployment, offers a crucial decision-making point for businesses. While on-premise deployment ensures greater control and data security, cloud deployment provides scalability, flexibility, and cost-efficiency, making it an appealing choice for small and medium enterprises seeking efficient AI video analytics solutions. This dichotomy reflects the diverse needs and priorities of organizations based on their operational requirements and data privacy considerations.

The end-user segmentation underscores the vast potential of the AI video analytics market across various sectors, including BFSI, government and defense, retail, healthcare, transportation, and others. Notably, the government and defense sector emerges as a key contributor to market growth, fueled by the mounting adoption of AI video analytics for public safety, border control, and law enforcement applications. The integration of advanced video analytics capabilities within these sectors is poised to revolutionize surveillance practices and bolster security measures in critical areas.

In terms of market players, prominent companies such as IBM Corporation, Cisco Systems, Inc., Honeywell International Inc., Axis Communications AB, and AllGoVision Technologies Pvt. Ltd. are leading the charge with their innovative AI video analytics solutions. These market players specialize in offering tailored solutions that harness machine learning, deep learning algorithms, and AI-powered video analytics to deliver real-time insights, ensuring enhanced security, operational efficiency, and customer experience across diverse industries.

In conclusion, the global AI video analytics market is on a trajectory of substantial growth, propelled by the surging demand for advanced surveillance systems and the infusion of AI technologies to augment security and operational efficiency. The market landscape is characterized by a diverse array of applications, deployment modes, end-user segments, and key market players, collectively driving innovation and transformation within the realm of video analytics. As organizations increasingly prioritize safety, security, and intelligent surveillance solutions, the AI video analytics market is poised to witness significant advancements and widespread adoption across industries, forging a path toward a more secure and technologically advanced future.The global AI video analytics market is experiencing rapid growth due to the rising demand for innovative video surveillance systems across various industries. One of the key drivers fuelling this growth is the convergence of AI technologies with video analytics to enhance security measures and operational efficiency. The integration of AI-powered features such as real-time monitoring, facial recognition, object tracking, and behavior analysis is revolutionizing the way organizations approach security and surveillance. With the increasing focus on leveraging AI video analytics for advanced facial recognition applications in sectors like government, retail, and banking, the market is witnessing a significant shift towards more sophisticated and intelligent surveillance solutions.

Moreover, the segmentation based on deployment modes, namely on-premise and cloud deployment, presents businesses with critical decision-making points. While on-premise deployment offers greater control and data security, cloud deployment provides scalability, flexibility, and cost-effectiveness, catering to the needs of small and medium enterprises seeking efficient AI video analytics solutions. This diversity in deployment options reflects the varying priorities and operational requirements of organizations, allowing them to choose the most suitable deployment model based on their specific needs.

The end-user segmentation highlights the extensive potential of the AI video analytics market across industries such as BFSI, government and defense, retail, healthcare, transportation, and others. Particularly, the government and defense sector stand out as significant contributors to market growth, driven by the increasing adoption of AI video analytics for critical applications like public safety, border control, and law enforcement. The deployment of advanced video analytics capabilities within these sectors is reshaping surveillance practices and strengthening security measures in sensitive areas.

Major market players like IBM Corporation, Cisco Systems, Inc., Honeywell International Inc., Axis Communications AB, and AllGoVision Technologies Pvt. Ltd. are at the forefront of driving innovation in AI video analytics solutions. Leveraging machine learning, deep learning algorithms, and AI-powered analytics, these companies deliver real-time insights that enhance security, operational efficiency, and customer experience across diverse industries. Their expertise in tailoring solutions to meet specific industry needs underscores their pivotal role in advancing the adoption of AI video analytics and shaping the future of intelligent surveillance.

In conclusion, the global AI video analytics market is poised for significant advancements, propelled by the increasing demand for cutting-edge surveillance systems and the integration of AI technologies to bolster security and operational effectiveness. The market's dynamic landscape, characterized by diverse applications, deployment options, end-user segments, and key market players, reflects a wave of innovation and transformation in video analytics technology. As organizations prioritize safety, security, and advanced surveillance solutions, the AI video analytics market is set to witness widespread adoption and drive towards a more secure and technologically advanced future.

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AI Video Analytics Market Research Questionnaire – 25 Sets of Analyst Questions

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