Video Analytics Market Size, Share, Key Players, Growth Trends, and Forecast Analysis
July 10, 2023 ⚊ 1 Min read ⚊ Views 38 ⚊ NEWS
According to a research report “Video Analytics Market by Component (Software and Services), Application (Incident Detection, Intrusion Management, Traffic Monitoring), Deployment Model (Cloud and On-premises), Type, Vertical and Region – Global Forecast to 2027” published by MarketsandMarkets, the global video analytics market is projected to grow from USD 7.1 billion in 2022 to USD 20.3 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 23.4% during the forecast period. The growth of the video analytics market can be attributed to government initiatives in adopting emerging technologies to enhance public safety infrastructure. Moreover, the significant drop in crime rate due to surveillance cameras fuels the growth of the video analytics market.
