Intelligent Video (IV) Market Size, Share, Growth, and Global Industry Growth, By Type (Camera-Based Systems and Server-Based Systems), By Application (BFSI, Retail Sector, Industrial Sector, Transport and Logistics Sector, Government and Public Sector, and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

INTELLIGENT VIDEO (IV) MARKET REPORT OVERVIEW

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The global intelligent video (IV) market size was USD 3430 million in 2021 and is projected to touch USD 21080.65 million by 2031, exhibiting a CAGR of 19.9% during the forecast period.

Intelligent video (IV) also known as video content analytics or simply video analytics is a technology that processes the digital video signals. Digital video signals use special algorithms to perform security-related functions. There are three types of video analytics; artificial intelligence algorithms, fixed algorithms analytics, and facial recognition systems. They have a wide range of applications in various domains such as entertainment, healthcare, transport, retail, security and safety, and other various domains.    

Rising use of intelligent video (IV) is propelled by the wide applications in various enterprises is expected to increase the market growth. Applications in various domains such as BFSI, retail, education, entertainment, hospitality, traffic management, defense, transportation, and other domains as well are anticipated to drive market growth. Increasing penetration of analytics platforms to reduce the crime rates by analyzing suspicious activities. Increasing adoption of high resolution cameras and uses of such cameras is projected to drive market size.

COVID-19 Impact: Restrictions on Various Industries Paused Market Growth

The effects of the COVID-19 pandemic are already being felt on a global level, the intelligent video (IV) market was considerably influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. The pandemic restricted the usage of video analytics services and software for a short period of time due to social distancing measures. But as pandemic progressed, adoption of analytics integrated surveillance systems accelerated the demand for intelligent video (IV) solutions. Opening of various industries such as BFSI, retail, education, entertainment, hospitality, traffic management, defense, transportation led to the usage of face recognition surveillance systems.  

LATEST TRENDS

"Technological Innovations and Evolution to Boost Market Growth"

The global intelligent video (IV) market growth is estimated to increase owing to technological innovations and evolution. Trend for the global market for video analytics is growing mainly aided by new technologies such as Artificial Intelligence and IoT. This has propelled the adoption in the end-user industries. Manufacturers have been offering intelligent video analytics recorders, all-in-one video management systems, intelligent analytics solutions and technology. In addition, the introduction of AI and IoT-based intelligent solutions offers advanced insights. It helps in gaining insights in event-based solutions such as in tracking people, objects, and vehicles. Real-time detection of the videos to monitor suspicious activities. Such introduction of new and advanced technologies is estimated to produce gainful prospects for market growth during the forecast period.

INTELLIGENT VIDEO (IV) MARKET SEGMENTATION

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• By Type

Based on type; the market is divided into camera-based systems and server-based systems.

Camera-based systems are expected to be the leading part of the type segment.  

• By Application

Based on application; the market is divided into BFSI sector, industrial sector, transport and logistics sector, government and public sector, retail sector, and others.

Government and public sector is expected to be the leading part of the application segment.  

DRIVING FACTORS

"Increasing Adoption of High-Resolution Cameras to Amplify Market Growth "

Increasing adoption of high-resolution cameras is expected to facilitate market growth. High resolution of 4K or 8K in the cameras enables the users to get accurate analysis. High resolution cameras help in analyzing the crowd and triggers the alarms. This is done by filtering and searching the videos and gaining insights from the video data. In addition to the resolution, high definition, enhanced vision angle, and sustainability which is predicted to drive market growth. They also offer increased pixels for enhanced super zooming capabilities for long-distance vision. Thus, HD videos offer more security to homes which is expected to fuel intelligent video (IV) market growth.

"Rising Investments in Smart Cities to Boost Market Expansion"

Growing urbanization is leading to a dense urban environment which is anticipated to create demand for the product. Introduction of advanced technological solutions to have secure urban cities and smart cities. Intelligent video solutions to enhance safety of such cities and help overcoming challenges is expected to drive market growth. There are an increasing number of investments done for the safety and security solutions. Management of transport systems and traffic management of smart cities is expected to support the demand for skincare products.   

RESTRAINING FACTORS

"Rise in Cyber Crimes Cases to Impede Market Development"

There are a number of factors that can boost the growth of the intelligent video (IV) market. Growing number of cyberattacks and data breaches on video surveillance cameras. Advanced solutions for video analytics are vulnerable to cyberattacks and are at the risk of leaking. Rising cases of breaches across the cloud platforms can impede market growth. Such growing cases of cybercrimes and threats are expected to decrease market growth and act as restraint.

INTELLIGENT VIDEO (IV) MARKET REGIONAL INSIGHTS

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"Increasing Demand for Advanced Video Analytics Solutions in North America to Drive Market Share"

Asia Pacific to have a governing part in the global intelligent video (IV) market share owing to the introduction of new and advanced video analytics solutions. Growing demand for enhanced public safety infrastructure is expected to drive the market growth. Progressive demand for business intelligence solutions is anticipated to drive market share. Implementation of video analytics that are incorporated with advanced technologies across various end-user industries is expected to drive the market share. Need for a proper surveillance system for national security in various countries of the region is expected to boost the region’s growth during the forecast period.

KEY INDUSTRY PLAYERS

"Market Players to Boost Market Growth"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• IBM (U.S.)
• Cisco Systems, Inc. (U.S.)
• Robert Bosch GmbH (Germany)
• Axis Communications AB (Sweden)
• Siemens (Germany)
• Honeywell International, Inc. (U.S.)
• Panasonic (Japan)
• Verint Systems (U.S.)
• Avigilon (Canada)
• Agent Video Intelligence, Inc. (U.S.)
• Objectvideo, Inc. (U.S.)
• Advantech (U.S.)
• Infinova (China)
• Qognify (U.S.)
• PureTech Systems (U.S.)
• IntelliVision (U.S.)
• VCA Technology (U.K.)

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.