Europe Video Analytics Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component (Solution and Service), Deployment (On Premise and Cloud Based), Application (Crowd Management, Facial Recognition, Intrusion Detection, License Plate Re

Europe Video Analytics Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Component (Solution and Service), Deployment (On Premise and Cloud Based), Application (Crowd Management, Facial Recognition, Intrusion Detection, License Plate Recognition, Motion Detection, and Others), and Vertical (BFSI, Education, Hospitality and Entertainment, Manufacturing, Defense and Border Security, Retail, Transportation and Logistics, and Others)

The Europe video analytics market is expected to grow from US$ 1,982.62 million in 2022 to US$ 6,268.86 million by 2028; it is estimated to grow at a CAGR of 21.2% from 2022 to 2028.
With advancements in AI engines, video data can now be used as a basis for predictive analytics. It can also be used for anticipating future market trends, patterns, and behaviors, making surveillance systems more intelligent and capable of making judgments. According to current video analytics trends, the video analytics technology has only scratched the surface of its potential and application reach. Advanced video content analytics is likely to be implemented at a much higher rate with the surge in demand for IoT and cybersecurity. The combination of powerful video content analytics and cybersecurity solutions is expected to open new opportunities for market players. In addition, in many procedures, mobile cameras can be used in conjunction with video analytics software, which indicates the potential for the development of smartphone apps for video analytics. The growing use of video analytics systems presents considerable prospects for software and hardware makers, as well as service providers. To capitalize on new prospects, business models must be revisited and reshaped to meet current demands. Given the early stages and high potential of developing technologies such as emotion AI, stakeholders must develop unique industrial use cases and find ways to stimulate early adoption.
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 Europe video analytics market. The Europe video analytics market is expected to grow at a good CAGR during the forecast period.
Europe Video Analytics Market Revenue and Forecast to 2028 (US$ Million )

Europe Video Analytics Market Segmentation

The Europe video analytics market is segmented into component, deployment, application, vertical, and country. Based on component, the Europe video analytics market is bifurcated into solution and service. The solution segment would dominate the Europe video analytics market in 2022. By deployment, the Europe video analytics market is categorized into on premise and cloud based. The cloud-based segment would dominate the Europe video analytics market in 2022. In terms of application, the Europe 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 Europe video analytics market in 2022. From vertical point of reference, the Europe 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 Europe video analytics market in 2022. Based on country, the Europe video analytics market is segmented into Germany, the UK, France, Italy, Russia, and Rest of Europe. The UK would dominate the Europe video analytics market in 2022.
Key players operating in the Europe 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.

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