The Network Cameras and Video Analytics Market is projected to reach a value of US$ 30.6 Billion in 2023, growing at a CAGR of 19.1% from 2023 to 2033. By 2033, sales of network cameras and video analytics are estimated to reach a value of US$ 175 Billion.
The network camera and video analytics market is an important and growing sector in surveillance, security, and data analytics. This dynamic market includes network cameras, also known as IP cameras and sophisticated video analysis software.
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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 covers a wide range of applications ranging from improving security and surveillance to enabling retail analytics, traffic management, smart city initiatives, healthcare wellness tracking, etc.
Network cameras and video analytics target a wide range of customers. This includes government organizations, commercial enterprises, industrial facilities, residential areas, transportation hubs, and public spaces.
The combination of artificial intelligence and machine learning has revolutionized video analytics, enabling accurate and automated visual data analysis. The ability to detect and react to events in real-time has enhanced security measures and improved incident management.
The rise of smart city initiatives has fueled demand for network cameras and analytics, which play an important role in urban management and security. Data processing at the network edge has reduced latency and reduced bandwidth consumption, allowing for more efficient operations.
The network camera and video analytics market has turned conventional surveillance into a dynamic, data-rich field with the ability to enhance security, streamline operations, and extract valuable insights in diverse fields and industries. As technology continues to evolve, this market is bound to shape the future of data-driven monitoring, security, and decision-making.
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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 Visual Cortex, an intelligent video
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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 Software Application:
Security / Surveillance
Others
End-Use:
Government
Retail
Banking & Financial
Transportation
Other