The Video Analytics Market is projected to reach $19.3 billion by 2029, at a CAGR of 21.0% from 2022 to 2029. The growth of the Video Analytics Market is driven by growing security & surveillance concerns, advancements in deep learning and edge computing, and the advent of IoT-driven video surveillance. However, the low effectiveness & high prices of supporting hardware and public privacy concerns restrain the growth of this market. The incorporation of AI in video analytics solutions, the integration of drone feeds with video analytics, and the growth in smart city projects are creating growth opportunities for the players operating in this market. However, the complexity of video processing tools and data drift & storage concerns are major challenges for market growth.
Here are the top 10 companies operating in the Video Analytics Market
Eagle Eye Networks, Inc.
Founded in 2012 and headquartered in Austin, U.S., Eagle Eye is the global leader in cloud video surveillance, delivering cyber-secure, cloud-based video with artificial intelligence (AI) and analytics to make businesses more efficient. It provides security and real-time business intelligence, helping organizations of all sizes & types optimize operations. With offices in Amsterdam, Bangalore, and Tokyo, the company has a strong presence in the Americas, Europe, and Asia-Pacific.
Gorilla Technology Group, Inc.
Founded in 2001 and headquartered in Taipei, R.O.C. Gorilla Technology Group, Inc. is one of the global leaders in video intelligence and IoT technology, supporting a wide range of video-centric and content management applications for smart retail, enterprise surveillance, city security, and broadcast media. The company offers cutting-edge AI-based video analytics solutions, such as people counting, line crossing, intrusion detection, and direction detection. Furthermore, it offers solutions for government & public services, smart city & transportation, and industrial and commercial sectors. Gorilla has a strong presence across North America, Europe, Asia-Pacific, and the Middle East & Africa.
Axis Communication AB
Founded in 1984 and headquartered in Lund, Sweden, Axis Communication AB is the leading player in the video analytics market. The company operates through two reporting segments, namely, Video and Other Segments. The Video segment includes video surveillance, audio, and access control products & solutions. With its subsidiaries and a strong distribution network, the company has a geographical presence across North America, Europe, and Asia-Pacific. Some of its subsidiaries are Axis Video Systems India Private Limited (India), Axis Communications Video Sdn. Bhd. (Malaysia), Axis Communications SA Pty Ltd. (South Africa), and Axis Communications Com e Serv Ltda. (Brazil). As of 2020, the company had a headcount of over 3,805 employees worldwide.
Cisco Systems, Inc.
Founded in 1984 and headquartered in California, U.S., Cisco Systems, Inc. designs and sells a broad range of technologies and integrates intent-based technologies across networking, security, collaboration, applications, and the cloud. The company operates through four business segments, namely, Infrastructure Platform, Applications, Security, and Services. The video analytics business revenue comes from the Security Business segment. Cisco Systems has a strong geographical presence across the Americas, Europe, the Middle East & Africa (EMEA), Asia Pacific, Japan, and China (APJC). Some of its major subsidiaries are Cisco Meraki, OpenDNS, AppDynamics, and ThousandEyes, Inc. As of 2020, Cisco Systems had a headcount of over 25,800 employees worldwide.
Verint Systems, Inc.
Founded in 1994 and headquartered in New York, U.S., Verint Systems, Inc. is a multinational technology company. The company operates through two segments, namely, Customer Engagement and Cyber Intelligence. It operates through the Cyber Intelligence segment in the video analytics market. With its subsidiaries and a strong distribution network, the company has a geographical presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Some of its subsidiaries are Cognyte Brasil S.A. (Brazil), Cognyte Analytics India Private Limited (India), Gita Technologies Ltd. (Israel), Verint Systems (Australia) PTY Ltd. (Australia), and Verint Witness Systems Servicios S.A. de C.V. (Mexico). As of January 2021, the company had a headcount of 4,300 employees worldwide.
Meticulous Research in its latest publication on Video Analytics Market has predicted the growth of 21% during the forecast year 2022-2029.
Stanley Convergent Security Solutions, Inc.
Founded in 1991 and headquartered in Indiana, U.S., Stanley Convergent Security Solutions, a division of Stanley Black & Decker, Inc. (U.S.), is a company providing electronic security solutions and monitoring. It specializes in integrated security systems, visitor management systems, intrusion solutions, access control systems, video surveillance, fire detection, and active shooter detection. Furthermore, it offers these solutions for several industries, including biotech & pharma, education, manufacturing & logistics, retail, government, commercial offices, BFSI, healthcare, utilities & energy, and data centers. The parent company, Stanley Black & Decker, Inc., works on three operating segments: tools & storage, industrial, and security. The Stanley Security brand in the Security Segment accounts for the revenue of video analytics. The company has a strong geographical presence in North America, Europe, and the Asia Pacific. As of 2021, there are 53,100 employees spread across 60 countries.
Honeywell International, Inc.
Founded in 1906 and headquartered in the U.S., Honeywell International, Inc. is a technology company. It operates through four business segments, namely, Aerospace, Building Technologies, Performance Materials and Technologies, and Safety & Productivity Solutions. The revenue associated with the video analytics is attributed to Honeywell’s Safety and Productivity Solutions segment. The company has a strong presence across the Americas, Europe, Asia-Pacific, and the Middle East & Africa with its subsidiaries. Some of its subsidiaries are Honeywell Automation India Limited (India), Novar GmbH (Germany), and Honeywell UK Ltd. (U.K.). As of 2020, the company had a headcount of 103,000 employees across the globe.
Huawei Technologies Co., Ltd.
Founded in 1987 and headquartered in Shenzhen, China, Huawei is a leading provider of information & communications technology (ICT) infrastructure and smart devices. Huawei divides its business into three operating segments, namely, Carrier, Enterprise, and Consumer. The revenue of the video analytics market comes from the enterprise business segment.
The company has a strong geographical presence in the Americas, Europe, Asia-Pacific, and the Middle East & Africa. Some of its major subsidiaries are Huawei Technologies Coöperatief U.A. (Netherlands), Huawei Technologies Deutschland GmbH (Germany), Huawei International Pte. Ltd. (Singapore), and Huawei Software Technologies Co., Ltd. (PRC). As of 2020, the company had almost 197,000 employees in over 170 countries.
Founded in 2015 and headquartered in Florida, U.S., ADT Inc. is a leading provider of security, automation, and smart home solutions serving consumer and business customers. It offers home and video security solutions and smart home automation. Monitoring and Related Services and Installation are the two major segments through which the company operates in the market. ADT has a geographical presence across the U.S. and Canada. Some of its major subsidiaries are ADT Security Services Canada, Inc. (Canada), Protec, Inc. (the U.K.), and ADT US Holdings, Inc. As of 2020, the company has 20,500 employees around the globe.
AllGoVision Technologies Pvt. Ltd.
Founded in 2009 and headquartered in Bangalore, India, AllGoVision Technologies is a leading market player in the video analytics market. The company provides products such as video analytics software, SDK, and covering applications, including face and license plate recognition. These products are used for city, traffic, building surveillance, queue management, people counting, social distancing, crowd detection, and contact tracing. The company has a strong geographical presence across North America, Europe, Asia-Pacific, and the Middle East & Africa.
Authoritative Research on the Video Analytics Market – Global Opportunity Analysis and Industry Forecast (2022-2029)
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