Ai Video Analytic Market Overview
As per MRFR analysis, the Ai Video Analytic Market Size was estimated at 4.11 (USD Billion) in 2022. The Ai Video Analytic Market Industry is expected to grow from 4.95 (USD Billion) in 2023 to 26.54 (USD Billion) by 2032. The Ai Video Analytic Market CAGR (growth rate) is expected to be around 20.5% during the forecast period (2024 - 2032).
Key Ai Video Analytic Market Trends Highlighted
Due to technological advancements and growing demands in various sectors, the worldwide AI video analytics market is expanding rapidly. These will enhance security, improve operational efficiency and optimize the customer experience. These enable valuable insights to be extracted from video footage by providing real-time monitoring, automated alerts, object detection and facial recognition. The opportunities in the AI video analytics market are possible through integration with other technologies, such as IoT and cloud computing. The retail, healthcare and transportation sectors have substantial growth potential due to the adoption of AI-powered video analytics.
Furthermore, edge computing solutions development enables real-time analytics at source, hence reducing bandwidth requirements and latency. In addition, current trends in AI video analytics involve increased use of deep learning algorithms which offer improved analysis leading to accurate results. Furthermore, this has been boosted further by the rise of virtual reality (VR) and augmented reality (AR). By integrating AI video analytics with business intelligence systems, one can make data-driven decisions that lead to better outcomes for operations.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Ai Video Analytic Market Drivers
Rising Demand for Enhanced Security and Surveillance
Rapidly growing security and safety concerns in public as well as private spaces are driving the demand for augmented video analytics solutions. Whether deploying AI-powered systems to minimize security risks and threats or to avoid accidents and safety hazards, modern organizations and individuals are investing in advanced video analytics systems to improve surveillance capabilities, situational awareness, and timely incident response. AI video analytics systems utilize complex algorithms and machine learning approaches to analyze real-time video data and perform detection and classification of suspicious activities, objects, and persons.
By fully automating the monitoring process and sending real-time alerts, AI video analysis helps organizations boost their level of safety and minimize the time of incident response. Retail, transportation, healthcare, and manufacturing are only a few sectors that have already adopted the technology consistently, supporting the claim that growing investments into AI video analytics will keep boosting the market.
Advancements in Artificial Intelligence and Machine Learning
The increasing development of artificial intelligence and machine learning contributes a lot to the growth of the AI video analytics market. These technologies create favorable conditions for creating more sophisticated and accurate video analytics algorithms. Moreover, learning algorithms of AI and ML due to large volumes of video data allow the creation of systems capable of solving complex tasks such as object recognition, facial recognition, behavioral analysis, etc. Such opportunities contribute to creating more reliable and efficient AI video analytics systems capable of detecting and classifying events on video data. Furthermore, as AI and ML technologies are being developed, the solutions will be more sophisticated, which will have a positive influence on their capabilities and the number of operations they can perform.
Growing Adoption in Smart Cities and Intelligent Transportation Systems
The development of smart cities and intelligent transportation systems is creating new opportunities for the AI video analytics market. Smart cities aim to improve urban infrastructure and services through the use of technology, and AI video analytics plays a crucial role in this transformation. AI video analytics systems are used in smart cities to optimize traffic flow, enhance public safety, and improve overall efficiency. In intelligent transportation systems, AI video analytics is used to monitor traffic patterns, detect accidents, and provide real-time information to drivers. The increasing adoption of smart cities and intelligent transportation initiatives is expected to drive the demand for AI video analytics solutions in the coming years.
Ai Video Analytic Market Segment Insights
Ai Video Analytic Market Deployment Model Insights
The Ai Video Analytic Market is segmented based on the deployment model into cloud-based and on-premises. The cloud-based deployment model is expected to hold a larger market share in 2024 due to its scalability, cost-effectiveness, and ease of deployment. The cloud-based deployment model allows businesses to access AI video analytics services without investing in expensive hardware and software infrastructure. The on-premises deployment model, on the other hand, provides businesses with greater control over their data and security. However, the on-premises deployment model requires businesses to invest in hardware, software, and IT staff to manage and maintain the infrastructure.
The Ai Video Analytic Market for cloud-based deployment is projected to grow from USD 2.68 billion in 2023 to USD 11.78 billion by 2032, at a CAGR of 20.6% during the forecast period. The growth of the cloud-based deployment model is attributed to the increasing adoption of cloud computing services by businesses of all sizes. The cloud-based deployment model offers businesses several benefits, such as scalability, cost-effectiveness, and ease of deployment. The Ai Video Analytic Market for on-premises deployment is projected to grow from USD 2.27 billion in 2023 to USD 10.84 billion by 2032, at a CAGR of 20.1% during the forecast period.
The growth of the on-premises deployment model is attributed to the increasing need for businesses to have greater control over their data and security. The on-premises deployment model allows businesses to deploy AI video analytics solutions on their own servers, giving them complete control over their data and security. Some of the key players in the Ai Video Analytic Market include Cisco Systems, Inc., IBM Corporation, Amazon Web Services, Inc., Microsoft Corporation, and Google LLC. These players offer a wide range of AI video analytics solutions, including cloud-based and on-premises solutions.They are also investing heavily in research and development to develop new and innovative AI video analytics solutions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Ai Video Analytic Market Industry Vertical Insights
The Ai Video Analytic Market is segmented into various industry verticals, including Retail, Healthcare, Manufacturing, Transportation, and Government. Each vertical presents unique opportunities and challenges for Ai Video Analytic solutions. In the Retail sector, Ai Video Analytics helps optimize store operations, enhance customer experience, and reduce shrinkage. For instance, Ai-powered video analytics can monitor customer traffic patterns, identify high-traffic areas, and optimize staffing levels accordingly. In 2024, the Ai Video Analytic Market in Retail is projected to reach USD 1.24 billion, growing at a CAGR of 22.3%.
Within Healthcare, Ai Video Analytics is revolutionizing patient care, improving operational efficiency, and enhancing safety. Ai-powered video analytics can be used for remote patient monitoring, fall detection, and medication adherence tracking. The Healthcare segment is anticipated to account for USD 1.06 billion in 2024, exhibiting a CAGR of 21.5%. In the Manufacturing sector, Ai Video Analytics is driving automation, improving quality control, and optimizing production processes. For example, AI-powered video analytics can detect defects in products, monitor production lines, and identify areas for improvement.
The Manufacturing segment is expected to reach USD 987 million in 2024, growing at a CAGR of 20.8%. Transportation is another key industry vertical for Ai Video Analytics. Ai-powered video analytics can enhance traffic management, optimize fleet operations, and improve passenger safety. In 2024, the Transportation segment is projected to account for USD 854 million, growing at a CAGR of 20.2%. Finally, Government agencies are leveraging Ai Video Analytics to enhance public safety, improve border security, and optimize urban planning. For instance, Ai-powered video analytics can be used for facial recognition, crowd monitoring, and traffic violation detection.The Government segment is anticipated to reach USD 763 million in 2024, exhibiting a CAGR of 19.9%.
Ai Video Analytic Market Analytics Type Insights
The Ai Video Analytic Market is segmented into Object Detection and Recognition, Facial Recognition, Motion Detection, Video Summarization, and Behavioral Analysis. Among these segments, Object Detection and Recognition is expected to hold the largest share of the market in 2024, owing to its wide range of applications in various industries such as retail, manufacturing, and healthcare. Facial Recognition is anticipated to be the fastest-growing segment during the forecast period due to its increasing adoption in security and surveillance applications. Motion Detection is expected to account for a significant share of the market, driven by its use in security systems and traffic monitoring applications. Video Summarization is projected to witness moderate growth over the forecast period, owing to its increasing adoption in media and entertainment applications. Behavioral Analysis is expected to hold a small share of the market, but it is expected to grow rapidly in the coming years due to its increasing adoption in customer behavior analysis and marketing applications.
Ai Video Analytic Market Applications Insights
The Ai Video Analytic Market segmentation by Applications includes Security and Surveillance, Customer Analytics, Operational Efficiency, Risk Management, and Compliance. Security and Surveillance is the leading segment, holding a market share of around 35% in 2023. The growth of this segment can be attributed to the increasing adoption of video surveillance systems in various verticals, such as retail, banking, and transportation. Customer Analytics is another significant segment, and its growth is driven by the rising demand for customer data analytics.
This segment is expected to witness significant growth in the coming years as businesses are increasingly focusing on improving customer experience and loyalty. Operational Efficiency is another key segment, and its growth is fueled by the need for businesses to improve their operational efficiency. This segment is expected to witness steady growth in the coming years as businesses look for ways to reduce costs and improve productivity. Risk Management and Compliance is a relatively smaller segment, but its growth is expected to be driven by the increasing regulatory requirements for businesses to manage risks. This segment is expected to witness moderate growth in the coming years as businesses become more aware of the importance of risk management.
Ai Video Analytic Market Regional Insights
The Ai Video Analytic Market is segmented into North America, Europe, APAC, South America, and MEA. North America is expected to hold the largest market share in 2023, owing to the presence of major technology companies and early adoption of AI-powered video analytics solutions. The region is also home to a large number of video surveillance systems, which is driving the demand for AI video analytics solutions. Europe is expected to be the second-largest market, followed by APAC. The APAC region is expected to witness the highest growth rate during the forecast period, owing to the increasing adoption of AI video analytics solutions in various industries, such as retail, transportation, and manufacturing. South America and MEA are expected to be the smallest markets, but they are expected to grow at a significant rate during the forecast period.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Ai Video Analytic Market Key Players And Competitive Insights
Major players in the Ai Video Analytic Market are focusing on developing innovative solutions to meet the evolving needs of customers. Leading Ai Video Analytic Market players are investing heavily in research and development to improve the accuracy and efficiency of their products. The Ai Video Analytic Market industry is expected to witness significant growth in the coming years, driven by increasing demand for video surveillance and analysis solutions across various industries.
Hikvision, a leading player in the Ai Video Analytic Market, offers a wide range of video surveillance and analysis solutions. The company has a strong focus on research and development, and its products are known for their high quality and reliability. Hikvision has a global presence, with operations in over 180 countries. The company's products are used in a variety of applications, including public safety, retail, transportation, and healthcare.
Axis Communications, a competitor in the Ai Video Analytic Market, is another leading provider of video surveillance and analysis solutions. The company offers a wide range of products, including network cameras, video management software, and analytics applications. Axis Communications has a strong focus on innovation, and its products are known for their advanced features and ease of use. The company has a global presence, with operations in over 50 countries. Axis Communications products are used in a variety of applications, including retail, transportation, and education.
Key Companies in the Ai Video Analytic Market Include
- Genetec
- Avigilon
- Hanwha Techwin
- Uniview
- Pelco
- Panasonic
- IndigoVision
- Dahua
- Honeywell
- Bosch Security
- Cisco
- Verint Systems
- Hikvision
- Axis Communications
- Dallmeier
Ai Video Analytic Market Industry Developments
Recent advancements in AI-powered video analytics have garnered significant attention in the global market. In 2023, the market valuation stood at approximately USD 4.95 billion, and it is projected to reach USD 26.54 billion by 2032, exhibiting a CAGR of 20.5% from 2024 to 2032.Notable market developments include the increasing adoption of AI-powered video surveillance systems in various industries, such as retail, healthcare, and manufacturing. Additionally, the growing demand for remote monitoring and security solutions has fueled the adoption of AI video analytics. Furthermore, advancements in deep learning algorithms and the availability of high-resolution cameras have enhanced the accuracy and efficiency of AI video analytics systems.
Ai Video Analytic Market Segmentation Insights
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Ai Video Analytic Market Deployment Model Outlook
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Ai Video Analytic Market Industry Vertical Outlook
- Retail
- Healthcare
- Manufacturing
- Transportation
- Government
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Ai Video Analytic Market Analytics Type Outlook
- Object Detection and Recognition
- Facial Recognition
- Motion Detection
- Video Summarization
- Behavioral Analysis
- Ai Video Analytic Market Applications Outlook
- Security and Surveillance
- Customer Analytics
- Operational Efficiency
- Risk Management
- Compliance
| Report Attribute/Metric |
Details |
| Market Size 2022 |
4.11 (USD Billion) |
| Market Size 2023 |
4.95 (USD Billion) |
| Market Size 2032 |
26.54 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
20.5% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Genetec, Avigilon, Hanwha Techwin, Uniview, Pelco, Panasonic, IndigoVision, Dahua, Honeywell, Bosch Security, Cisco, Verint Systems, Hikvision, Axis Communications, Dallmeier |
| Segments Covered |
Deployment Model, Industry Vertical, Analytics Type, Applications, Regional |
| Key Market Opportunities |
Retail Analytics Smart Surveillance Healthcare Diagnostics Predictive Maintenance Fraud Detection |
| Key Market Dynamics |
Increasing adoption of AI in video surveillance systems Growing demand for real-time video analytics Need for improved security and safety. Rise of smart cities and intelligent transportation systems Expansion of cloud-based video analytics platforms |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Ai Video Analytic Market is expected to reach a valuation of 4.95 billion USD in 2023, with a projected CAGR of 20.5% from 2024 to 2032. This growth is attributed to the increasing adoption of AI-powered video analytics solutions across various industries.
North America and Europe are expected to be the dominant regions in the Ai Video Analytic Market, accounting for a significant share of the market in 2023. The Asia Pacific region is projected to witness the highest growth rate during the forecast period due to the increasing adoption of AI-powered video analytics solutions in emerging economies.
Ai Video Analytic solutions find applications in a wide range of industries, including retail, manufacturing, healthcare, and transportation. These solutions are used for various purposes, such as security and surveillance, process optimization, customer behavior analysis, and predictive maintenance.
Key competitors in the Ai Video Analytic Market include: Cisco Systems, IBM, Google Cloud, Microsoft, Amazon Web Services, Axis Communications, Bosch Sicherheitssysteme, Honeywell, Hikvision, Dahua Technology.
The growth of the Ai Video Analytic Market is driven by several factors, including: - Increasing demand for video surveillance and security solutions - Growing adoption of AI-powered technologies - Rising awareness of the benefits of video analytics - Government initiatives and regulations related to video surveillance
The Ai Video Analytic Market faces certain challenges, such as: - Privacy concerns related to the use of video analytics - Lack of skilled professionals in the field of AI video analytics - High cost of implementation and maintenance of video analytics solutions
Key trends in the Ai Video Analytic Market include: - Increasing adoption of cloud-based video analytics solutions - Growing use of AI video analytics for predictive analytics and forecasting - Integration of AI video analytics with other technologies, such as IoT and blockchain
The Ai Video Analytic Market is expected to witness a CAGR of 20.5% from 2023 to 2032, reaching a valuation of 26.54 billion USD by 2032.
The growth of the Ai Video Analytic Market is influenced by several factors, including: - Technological advancements in AI and video analytics - Increasing demand for video surveillance and security solutions - Government initiatives and regulations related to video surveillance - Growing awareness of the benefits of video analytics
Ai Video Analytic solutions have a wide range of potential applications, including: - Security and surveillance - Process optimization - Customer behavior analysis - Predictive maintenance - Quality control - Healthcare diagnostics
