The South America video analytics market is expected to grow from US$ 177.42 million in 2022 to US$ 527.90 million by 2028; it is estimated to grow at a CAGR of 19.9% from 2022 to 2028.
Major companies in the video analytics market are continuously improving their offerings to gain a competitive advantage and meet the changing needs of end users. As a result, they are combining modern technologies such as artificial intelligence, deep learning, and machine learning with video analytics software. Furthermore, powerful AI-based video analytics solutions provided by video analytics market players provide an autonomous way to monitor and improve video content analysis in real time. Sprint, for instance, released "Curiosity Smart Video Analytics" in August 2019, combining technologies from Hitachi Vantara and Ericsson. Furthermore, the integration of these advanced technologies in video analytics can result in a considerable increase in accuracy, as well as a significant reduction in false alarms, which has been a weakness of video analytics in surveillance. Machine learning may also assist in the proper classification of photos and various objects. Thus, the integration of advanced technologies is likely to introduce new trends in the video analytics market during the forecast period.
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 South America video analytics market. The South America video analytics market is expected to grow at a good CAGR during the forecast period.
South America Video Analytics Market Revenue and Forecast to 2028 (US$ Million)
South America Video Analytics Market Segmentation
The South America video analytics market is segmented into component, deployment, application, vertical, and country. Based on component, the South America video analytics market is divided into solution and service. The solution segment would dominate the South America video analytics market in 2022. In terms of deployment, the South America video analytics market is categorized into on premise and cloud based. The cloud-based segment would dominate the South America video analytics market in 2022. From application point of reference, the South America 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 South America video analytics market in 2022. Based on vertical, the South America 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 South America video analytics market in 2022. Based on country, the South America video analytics market is segmented into Brazil, Argentina, and Rest of South America. Brazil would dominate the South America video analytics market in 2022.
Key players operating in the South America 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$ 177.42 Million |
| Market Size by 2028 | US$ 527.90 Million |
| CAGR (2022 - 2028) | 19.9% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered |
South and Central America
|
| Market leaders and key company profiles |
|
The South America Video Analytics Market is valued at US$ 177.42 Million in 2022, it is projected to reach US$ 527.90 Million by 2028.
As per our report South America Video Analytics Market, the market size is valued at US$ 177.42 Million in 2022, projecting it to reach US$ 527.90 Million by 2028. This translates to a CAGR of approximately 19.9% during the forecast period.
The South America 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 South America Video Analytics Market report:
The South America Video Analytics Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South America Video Analytics Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South America Video Analytics Market value chain can benefit from the information contained in a comprehensive market report.
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