The surveillance system used by businesses to keep an eye on business operations and automatically recognize time and space events in videos is referred to as AI-powered video analytics. Furthermore, maintaining and monitoring video surveillance while dealing with a large number of cameras is quite difficult due to the large amount of labor required. This software's main goal is to be to use real-time video analytics to detect, recognize, and track the object. Furthermore, the market faces considerable problems in terms of data storage and the surge in occurrences of internet breaches in video surveillance. The use of cutting-edge technology by various sectors such as retail, healthcare, and traffic control, on the other hand, is likely to boost the AI-powered video analytics market forward in the approaching years.
MARKET SCOPE
The "Global AI-powered Video Analytics Market Analysis to 2028" is a specialized and in-depth study of the AI-powered video analytics market with a special focus on the global market trend analysis. The report aims to provide an overview of AI-powered video analytics market with detailed market segmentation by component, deployment type, enterprise size, component, application, and geography. The global AI-powered video analytics market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading AI-powered video analytics market players and offers key trends and opportunities in the AI-powered video analytics market.
MARKET SEGMENTATION
- The global AI-powered video analytics market is segmented on the basis of component, deployment type, enterprise size, application.
- On the basis of component, the market is segmented as software, and services
- On the basis of deployment, the market is segmented as on-premise, and cloud.
- On the basis of enterprise size the market is segmented into SMEs and large enterprise.
- On the basis of application, the market is segmented as transportation, infrastructure, retail, enterprise and others.
MARKET DYNAMICS
Drivers:
- Artificial Intelligence and Machine Learning to Boost the Growth of this Market.
- Demand for security cameras for the surveillance of assets and machineries are expected to propel the growth of this market.
Restraints:
- High cost of installment, security breaches by hackers, and lack of internet infrastructure in developing nations are anticipated to restrict the growth of market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The AI-powered video analytics market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the AI-powered video analytics market in these regions.
IMPACT OF COVID-19 ON AI-POWERED VIDEO ANALYTICS MARKET
The outbreak of COVID-19 virus in December 2019 affected majority of the countries around the globe with the World Health Organization declaring it a public health emergency. The pandemic is expected to have negative impact on the global artificial intelligence powered video analytics market in 2020. With rise of the global health crisis, various enterprises are facing several challenges in operating business functions like production, sales, and after sales services, thus resulting in shutdown of business functions. However, video analysis and surveillance technology were able to make a significant growth in the market with the help of government initiatives, such as surveillance on public places for lockdown and social distancing measures, which played significant role in limiting the spread of disease.
MARKET PLAYERS
The report covers key developments in the AI-powered video analytics market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from IOT in warehousemarket market are anticipated to lucrative growth opportunities in the future with the rising demand for AI-powered video analytics market in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the AI-powered video analytics market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- 3VR Inc.
- Agent Video Intelligence Ltd.
- Anixter Inc.,
- IntelliVision Corp.
- Gorilla Technology Group Inc.
- Dolby Laboratories Inc.
- BriefCam Ltd.
- Axis Communications AB
- Genetec Inc.
- Motorola Solutions Inc.