Network cameras and video analytics market is projected to reach USD 30.6 billion in 2023 with a compound annual growth rate (CAGR) of 19.1% from 2023 to 2033. Network camera and video analytics revenues are likely to reach a value of USD 175 billion by 2033.
One of the major and growing fields in data analytics, security, and surveillance is network cameras and video analytics. This constantly evolving business includes sophisticated video analysis software and network cameras, often called IP cameras.
Network cameras collect visual data and transmit it over an Internet Protocol (IP) network, while video analytics uses advanced algorithms to interpret that data. This process enables the automated gathering of insights and actionable intelligence.
Modern cameras have surpassed traditional surveillance, providing high-resolution video recording and data transmission over the network. They provide features like remote access, scalability, and seamless integration with other systems, turning visual information into actionable data.
The market spans a wide array of applications that range from security and surveillance to retail analytics, traffic management, smart city initiatives, healthcare wellness tracking, etc.
Network cameras and video analytics serve a wide customer base. They include government agencies, commercial entities, industrial premises, residential buildings, transportation terminals, and public places.
The combination of artificial intelligence and machine learning has revolutionized video analytics, making it possible to analyze visual data accurately and automatically. Real-time detection and reaction to events have improved security measures and enhanced incident management.
The increasing smart city initiatives have led to increased demand for network cameras and analytics, which are an important part of management and security in cities. The data processing at the edge reduces latency significantly and lessens bandwidth usage to the benefit of making operations more efficient.
The network camera and video analytics market has transformed old surveillance techniques into a modern, data-intensive industry providing capability for enhanced security, efficient operations, and output value in various fields and sectors. It will continue to shape the future of data-driven monitoring, security, and decision-making with continuously developed technology.
Key Takeaways from the Report:
The United States is anticipated to be valued at US$ 35.8 billion by 2033.
Expanding at a CAGR of 18.9%, the market in China is estimated to surge to a valuation of US$ 39.8 billion by 2033.
In the type segment, the IP camera segment is expected to dominate the network cameras and video analytics market with a CAGR of 19.0% by 2033.
The United Kingdom is projected to reach a valuation of US$ 6.5 billion by 2033.
Japan is projected to reach a valuation of US$ 33.6 billion by 2033.
“The market for network cameras and video analytics is in growing demand for non-security details as well as crowd organization applications. End users can measure human traffic at specific entry and exit points in a building. Businesses like entertainment and retail use video analytics for the same application. This technology can track wait times in retail stores, count individuals at concerts, and more.”– says a lead analyst at Future Market Insights (FMI)
Competitive Landscape:
ADT Security Services; Agent Video Intelligence; Axis Communications AB; Bosch Security Systems; Canon, Inc.; are key manufacturers listed in the FMI report.
The key players in the market rely heavily on research and development to inflate their product lines, which will help with the growth of the market. These well-known trademarks have a strong impact on distribution networks, brand awareness, and economies of scale to reach large customer bases.
For instance,
• In November 2022, Servian, an Australian data consulting firm, and VisualCortex, an intelligent video
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global network cameras and video analytics market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the network cameras and video analytics market by type (IP cameras, video analytics software) application (security/surveillance, others) end-use (government, retail, banking & financial, transportation, other)
Network Cameras and Video Analytics Market Segmentation by Category
Type:
IP Cameras
Video Analytics SoftwareApplication:
Security / Surveillance
Others
End-Use:
Government
Retail
Banking & Financial
Transportation
Other
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector across verticals in APAC, EMEA, and the Americas reflecting his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Join us as we commemorate 10 years of delivering trusted market insights. Reflecting on a decade of achievements, we continue to lead with integrity, innovation, and expertise.
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