Video Analytics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Video Analytics Market Analysis and it is Segmented by Type (Software (On-premise and Cloud) and Services), by End User (BFSI, Healthcare, Retail & Logistics, Critical Infrastructure, Hospitality and Transportation, Defense and Security, and Other End-user Verticals), and by Geography (North America, Europe, Asia-Pacific, Latin America and Middle East and Africa). The market size and forecasts are provided in terms of value (USD million) for all the above segments.

Video Analytics Market Size

Video Analytics Market Summary
Study Period 2021 - 2029
Market Size (2024) USD 2.96 Billion
Market Size (2029) USD 6.01 Billion
CAGR (2024 - 2029) 15.20 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Video Analytics Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Video Analytics Market Analysis

The Video Analytics Market size is estimated at USD 2.96 billion in 2024, and is expected to reach USD 6.01 billion by 2029, growing at a CAGR of 15.20% during the forecast period (2024-2029).

Analytics has enabled various end-users to turn specific data insights into actionable intelligence for numerous functions. They monitor 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.

  • Video analytics are being deployed in city, retail, vehicle, and worksite settings to acquire insights for decision-making. The video surveillance sector uses it for analyzing threats, recognizing them, mitigating them, and monitoring their effects. China is investing heavily in the capabilities of facial recognition. According to NetEase, China's market size is expected to reach CNY 40 billion (USD 5.73 billion) in biometric recognition technologies.
  • Moreover, the video analytics market is witnessing an increasing demand for non-security reasons as well as for crowd management applications. End users could measure the flow of people at specific exit and entry points within a building. Industries like retail and entertainment are using video analytics for these applications. This technology helps monitor the dwell time in retail stores, count the people at concerts, and more.
  • Also, the development of smart cities is one of the significant factors driving the market. Due to the growth of smart cities, the demand for video surveillance and connected devices across city buildings is expected to increase drastically. According to the Consumer Technology Association, consumer spending on traditional and emerging technologies is forecast to amount to USD 505 billion by the end of the current year.
  • However, the surge in the overall cost, operational issues, and privacy issues related to video analytics and surveillance might be a factor that restrains the market's growth throughout the forecast period.
  • The COVID-19 pandemic has had a mixed impact on the video analytics industry. The impact has been adverse on end users, such as retail, logistics, hospitality, and transportation, as the worldwide lockdowns created a slump in footfall. Thus, the demand for video analytics was also affected. Moreover, owing to the COVID-19 outbreak, government surveillance is rising globally. From Israel to South Korea to China, governments worldwide are using technology to track the COVID-19 outbreak as they race to stem its spread. They use location data, video camera footage, and credit card information to track COVID-19 in their countries.

Video Analytics Market Trends

This section covers the major market trends shaping the Video Analytics Market according to our research experts:

Retail Industry is expected to Hold a Major Share

  • In retail stores, a lot of information is captured in videos for loss prevention, theft analysis, and post-analysis when a mishap occurs. Hence, real-time video analytics can unravel various insights from videos captured in stores and help improve store operations and the customer experience.
  • Moreover, the global retail sector is also focusing on deploying innovative solutions to increase security and customer experience, for which a few are implementing facial recognition technology. From security to advertisements, many face recognition applications are being used in retail. From sending customized ads to identified shoppers to identifying gender, age, and customer count to capturing glance time on products, the applications are endless.
  • As per Zenith, global ad spending is increasing steadily; last year, it stood at USD 722.84 million. Additionally, ad spending worldwide is expected to reach around USD 885 billion by the end of 2024. Hence, a significant share of the expenditure is on gaining consumer insights into target the consumer segment. This is where video analytics finds a prime opportunity, where video analytics can be used for heat mapping, customer services, and reducing retail shrinkage. The growth opportunities in this space are ample for the technology's growth.
  • For instance, the prominent US retailer Walmart has affirmed that it utilizes image recognition cameras at registration to identify theft. Having used the innovation in more than 1,000 stores, the organization has also invested in ensuring safety for its customers and associates. Moreover, companies like Identiv Inc. have a dedicated product portfolio known as 3VR Retail Optimization Analytics that engages in demographics, queue line, people counting, and dwell time analytics.
  • As per the India Brand Equity Foundation, by 2026, the total retail market in India is expected to surpass 1.7 trillion, representing an increase of over 80% compared to 2018. This significant rise in India's overall total retail market will significantly augment the market's growth throughout the forecast period.
Video Analytics Market: Value of the retail market in India from 2018 to 2020, with estimates until 2026

North America is expected to hold a major share

  • North America is one of the most important markets for video analytics. The region, particularly the United States, is a major technology innovator and investor. Aside from that, widespread adoption among end-user industries and regional government involvement in video surveillance infrastructure development fuels the adoption of video analytics solutions in the North American region.
  • The region has a high adoption rate of CCTV cameras in various surveillance settings, from street corners to university campuses and even private homes. Most sites have multiple cameras, generating a large volume of footage. In the United States alone, there are about 70 million surveillance cameras installed, which works out to 4.6 people per installed camera. Also, the country has a high penetration of surveillance cameras, with the adoption being most common among private-sector retail and commercial establishments, such as hotels, restaurants, and office complexes.
  • Post 9/11, the massive advancement in IP cameras and their implementation across the region have also developed the space for the market's growth in the last decade. Most regional municipal law enforcement is leveraging video analytics for real-time response and post-event investigation, and cities are also using the data for urban planning and traffic optimization. Many American cities, including Detroit, have aggressively invested in surveillance infrastructure, including the recent installation of cameras to monitor public housing residents.
  • Police in New York, Atlanta, and New Orleans now use video analytics-enabled cameras to improve investigations. The Baltimore Police Department has also conducted secret aerial surveillance of residents for several years. The regional market is also witnessing the integration of deep learning, AI, and neural networking into the product offering, increasing accuracy and lowering overall solution costs. As a result, the market's growth is accelerating exponentially.
  • Also, the region is witnessing an increasing adoption of smart home security cameras, which may further expand the scope of the market studied. Hence, AI-based video analytics further enhance efficiencies, offering many non-security-related insights for businesses, especially in smart city applications. For instance, in the last quarter of this year, Roku Inc., an American company based in California, announced the launch of Roku Smart Home, a whole new lineup of devices, including security cameras, smart lights, video doorbells, and voice-enabled smart plugs. The company also introduced a Roku Smart Home mobile app and a security camera subscription service.
Video Analytics Market - Growth Rate by Region

Video Analytics Industry Overview

The market is quite fragmented and moving toward a consolidated market format, owing to prominent vendors who can spend on R&D to improve their offerings. The companies include artificial intelligence and machine learning to enhance their offerings. The major companies include Axis Communications AB, Avigilon Corporation (Motorola Solutions), Cisco Systems Inc., IBM Corporation, and Aventura Technologies Inc. Some of the latest developments in the market are:

  • In September 2022, Honeywell launched the latest iteration of its Pro-Watch Integrated Security Suite, including Pro-Watch 6.0 and Pro-Watch Video Management System (VMS) R750, along with the 35 Series cameras that will round out its portfolio of cameras that work in NDAA-compliant systems, at the Global Security Exchange (GSX) 2022. Honeywell Pro-Watch 6.0 is the latest iteration of the Honeywell Pro-Watch Integrated Security Suite, enabling higher levels of compliance for highly regulated industries without adding work to security teams.
  • In March 2022, Senstar, a world leader in video management solutions and perimeter intrusion detection systems (PIDS), announced that it had opened a software development branch in Timisoara, Romania. A development center in the EMEA region will allow the company to holistically address its customers' unique needs and develop related products and solutions.

Video Analytics Market Leaders

  1. Axis Communications AB

  2. Cisco Systems , Inc.

  3. International Business Machines Corporation

  4. Aventura Technologies Inc.

  5. Avigilon Corporation (Motorola Solutions)

*Disclaimer: Major Players sorted in no particular order

Video Analytics Market Concentration
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Video Analytics Market News

  • November 2022: Servian, Australia's data consulting firm, and VisualCortex, the video intelligence Platform bridging computer vision's potential to practical business outcomes, have signed a referral and services agreement. According to the terms of the collaboration agreement, Servian would be able to recommend VisualCortex's Video Intelligence Platform to its current and potential clients in Australia and New Zealand, as well as provide implementation, integration, model creation, and related professional services.
  • October 2022: Awiros will provide advanced video analytics for high-resolution surveillance cameras for the Bengaluru Safe City project. Awiros' AI-based Video Intelligence platform, automatic number plate recognition, facial recognition system, and other Video AI applications would empower the analysis of video feeds from over 7000 cameras spread across 3000+ locations in Bengaluru city. This would make it possible for Bengaluru City Police to do situational analysis in real-time and respond quickly to any potential crimes being perpetrated by offenders for the safety of the public, especially women and children.

Video Analytics Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growing Emphasis among Enterprises on Obtaining Actionable Insights

      2. 4.2.2 Technological Advancements coupled with High Investments in City Surveillance

    3. 4.3 Market Challenges

      1. 4.3.1 Cost, Operational, and Privacy Issues Related to Video Analytics and Surveillance

    4. 4.4 Market Opportunities

    5. 4.5 Key Case Studies and Implementation Use-cases

    6. 4.6 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.6.1 Bargaining Power of Suppliers

      2. 4.6.2 Bargaining Power of Buyers

      3. 4.6.3 Threat of New Entrants

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

    7. 4.7 Impact of COVID-19 on the Video Analytics Industry



    1. 6.1 Type

      1. 6.1.1 Software (On-premise and Cloud)

      2. 6.1.2 Services

    2. 6.2 By End User

      1. 6.2.1 BFSI

      2. 6.2.2 Healthcare

      3. 6.2.3 Retail & Logistics

      4. 6.2.4 Critical Infrastructure

      5. 6.2.5 Hospitality and Transportation

      6. 6.2.6 Defense and Security

      7. 6.2.7 Other End-user verticals (Manufacturing, etc.)

    3. 6.3 Geography

      1. 6.3.1 North America

      2. 6.3.2 Europe

      3. 6.3.3 Asia-Pacific

      4. 6.3.4 Latin America

      5. 6.3.5 Middle East & Africa


    1. 7.1 Company Profiles

      1. 7.1.1 Cisco Systems Inc.

      2. 7.1.2 Identiv Inc.

      3. 7.1.3 Aventura Technologies Inc.

      4. 7.1.4 Genetec Inc.

      5. 7.1.5 Honeywell International Inc.

      6. 7.1.6 Agent Video Intelligence Ltd

      7. 7.1.7 Objectvideo Labs LLC

      8. 7.1.8 Qognify Limited

      9. 7.1.9 NEC Corporation

      10. 7.1.10 Herta Security SL

      11. 7.1.11 Verint Systems Inc.

      12. 7.1.12 ISS Inc.

      13. 7.1.13 International Business Machines Corporation

    2. *List Not Exhaustive


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Video Analytics Industry Segmentation

Video analytics is software that is used for monitoring video streams in near real-time. While monitoring the videos, the software identifies attributes, events, or patterns of specific behavior via video analysis of monitored environments. The software can generate automatic alerts and facilitate forensic analysis of historical data to identify trends, patterns, and incidents. The software enables users to analyze, organize, and share any insight gained from the data to make smarter, better decisions.

The video analytics market is segmented by type (software (on-premise and cloud) and services), by end user (BFSI, healthcare, retail & logistics, critical infrastructure, hospitality and transportation, defense and security, and other end-user verticals), and by geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

Software (On-premise and Cloud)
By End User
Retail & Logistics
Critical Infrastructure
Hospitality and Transportation
Defense and Security
Other End-user verticals (Manufacturing, etc.)
North America
Latin America
Middle East & Africa
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Video Analytics Market Research FAQs

The Video Analytics Market size is expected to reach USD 2.96 billion in 2024 and grow at a CAGR of 15.20% to reach USD 6.01 billion by 2029.

In 2024, the Video Analytics Market size is expected to reach USD 2.96 billion.

Axis Communications AB, Cisco Systems , Inc., International Business Machines Corporation, Aventura Technologies Inc. and Avigilon Corporation (Motorola Solutions) are the major companies operating in the Video Analytics Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Video Analytics Market.

In 2023, the Video Analytics Market size was estimated at USD 2.57 billion. The report covers the Video Analytics Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Video Analytics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Video Analytics Industry Report

Statistics for the 2024 Video Analytics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Video Analytics analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Video Analytics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)