The video analytics market was valued at USD 1528.1 million in 2019, and it is expected to reach USD 4142.7 million by 2025, registering a CAGR of 24.5% during the forecast period of 2020-2025. Analytics has enabled various end-users in the usage of specific data insights into actionable intelligence for numerous functions. The ideas could be used in monitoring the queues in retail outlets and hospitals, generate heat maps, etc. The surveillance and retail industries are expected to drive the market positively during the forecast period.

• The video-analytics are being deployed in the city, retail, vehicle, and worksite settings and are being used to acquire insights for decision making. The video surveillance sector uses it for analyzing threats, recognizing, mitigating, and monitoring purposes. China is investing heavily in the capabilities of facial recognition. According to Tsinghua University, China's market size is expected to reach CNY 34 billion in biometric recognition technologies.
• Video analytics is not only being deployed for producing customer movement heatmaps and store planning but is also widely being adopted to tackle organized retail crime. Inpixon, a company that engages in indoor positioning and data analytics, collaborated with the National Anti-Organized Retail Crime Association (NAORCA Worldwide) to fight against retail crime.
• The retail industry is increasingly adopting video analytics and emerging as one of the prominent markets. The growing retail market is also driving the demand; according to the US Census Bureau, the whole retail and food services sales in the US during the year 2018 stood at USD 6.02 trillion.
• The growth in the development of smart cities is one of the significant reasons which is driving the market. Due to the number of smart cities growth, the demand for video surveillance and connected devices across city buildings is expected to increase. According to Consumer Technology Association, spending on smart cities worldwide is expected to reach USD 34.35 billion by 2020.
• As per information provided by Tencent, the number of surveillance cameras installed in China during the year 2017 was valued at 176 million units, and it is expected to reach 626 million units by 2021. Besides, South Korea's Ministry of the Interior and Safety stated that the number of CCTV cameras deployed in public places during fiscal 2018 stood at 1,032,879 units. Such developments are spearheading the demand in the region.
• Moreover, government surveillance is rising globally, owing to the COVID-19 outbreak. From Israel to South Korea to China, governments around the world are using technology to track the COVID-19 outbreak as they race to stem its spread. They are using a combination of location data, video camera footage, and credit card information, to track COVID-19 in their countries. It is increasingly essential for complex investigative procedures, particularly in coronavirus emergency, to be able to rapidly analyze mass video data in terms of real-time situation awareness.