The Asia Pacific video analytics market is expected to grow from US$ 1,543.61 million in 2022 to US$ 5,564.99 million by 2028; it is estimated to grow at a CAGR of 23.8% from 2022 to 2028.
IP-based surveillance systems, high-resolution IP cameras, and network video recorders are increasingly being used in video management systems. An increase in IP infrastructure, a rise in tele density, and a demand for remote access are the factors encouraging developments in IP-based security solutions. As a result, companies in the video analytics market are expanding their product portfolios to include IP-based security cameras with integrated video analytics functions. For example, in October 2020, Bosch released "IP 3000i Cameras" with a built-in video analytics system. The integration of IP-based security cameras with video analytics enables remote access, smart data capture, blocked emergency exit or queue notifications, intrusion detection, crowd management, and facial recognition. IP-based security cameras are used in retail spaces for behavior analytics and demographics. Thus, the need for video analytics solutions is growing with the elevating deployment of IP-based security cameras across various sectors. Because it is prone to a variety of mishaps and crimes, the public transportation industry is seeing significant government investments in public safety. According to Axis Communications' poll, 97% of respondents from 30 nations have security cameras installed in their vehicles. In addition, various institutes and businesses are collaborating to develop innovative solutions.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific video analytics market. The Asia Pacific video analytics market is expected to grow at a good CAGR during the forecast period.
Asia Pacific video analytics market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific Video Analytics Market Segmentation
The Asia Pacific video analytics market is segmented into component, deployment, application, vertical, and country. Based on component, the Asia Pacific video analytics market is bifurcated into solution and service. The solution segment would dominate the Asia Pacific video analytics market in 2022. By deployment, the Asia Pacific video analytics market is categorized into on premise and cloud based. The cloud-based segment would dominate the Asia Pacific video analytics market in 2022. In terms of application, the Asia Pacific video analytics market is categorized into crowd management, facial recognition, intrusion detection, license plate recognition, motion detection, and others. The crowd management segment would dominate the Asia Pacific video analytics market in 2022. From vertical point of reference, the Asia Pacific video analytics market is categorized into BFSI, education, hospitality and entertainment, manufacturing, defense and border security, retail, transportation and logistics, and others. The defense and border security segment would dominate the Asia Pacific video analytics market in 2022. Based on country, the Asia Pacific video analytics market is segmented into China, Japan, India, Australia, South Korea, and Rest of Asia Pacific. China would dominate the Asia Pacific video analytics market in 2022.
Key players operating in the Asia Pacific Video analytics market are Avigilon Corporation; AXIS COMMUNICATIONS; Agent Video Intelligence Ltd.; Honeywell International Inc.; AllGoVision Technologies Pvt. Ltd.; Hangzhou Hikvision Digital Technologies Co., Ltd.; Huawei Technologies Co., Ltd.; NEC Corporation; and BriefCam, by Altair, among others.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 1,543.61 Million |
| Market Size by 2028 | US$ 5,564.99 Million |
| CAGR (2022 - 2028) | 23.8% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Video Analytics Market is valued at US$ 1,543.61 Million in 2022, it is projected to reach US$ 5,564.99 Million by 2028.
As per our report Asia Pacific Video Analytics Market, the market size is valued at US$ 1,543.61 Million in 2022, projecting it to reach US$ 5,564.99 Million by 2028. This translates to a CAGR of approximately 23.8% during the forecast period.
The Asia Pacific Video Analytics Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Video Analytics Market report:
The Asia Pacific Video Analytics Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Video Analytics Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Video Analytics Market value chain can benefit from the information contained in a comprehensive market report.
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