Video Analytics Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032
- Report ID: ME_00178
- Format: Electronic (PDF)
- Publish Type:
- Number of Pages: 250
Market Snapshot
Source: Market Expertz
| Study Period | 2019-2032 |
| Base Year | 2023 |
| Forcast Year | 2023-2032 |
| CAGR | 6.34 |
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The Video Analytics Market size is projected to grow at a CAGR of 7.92% between 2022 and 2032. The market size is anticipated to witness an increase of USD 12,560.85 million during this period. The growth of the market is driven by several factors, including the rising demand for security and surveillance solutions, the proliferation of video data from various sources, and the integration of advanced technologies in video analytics systems. Video analytics involves the use of algorithms and artificial intelligence to analyze and extract meaningful insights from video data, enabling businesses and organizations to enhance security, make informed decisions, and optimize operations
Video Analytics Market Overview:
Drivers:
The growing demand for security and surveillance solutions is a key driver fueling the growth of the Video Analytics Market. With increasing security concerns across various industries such as retail, transportation, and public safety, there is a heightened need for intelligent video analytics systems that can detect and respond to security threats in real time.
Moreover, the proliferation of video data from various sources, including CCTV cameras, smartphones, and IoT devices, is driving market growth. As the volume of video data increases, organizations are looking for ways to extract valuable insights from this data to gain a competitive edge, enhance customer experiences, and improve operational efficiency.
Trends:
The integration of advanced technologies, such as artificial intelligence and machine learning, is a significant trend shaping the Video Analytics Market. These technologies enable video analytics systems to identify patterns, recognize objects, and even predict events. This integration opens up new possibilities for applications such as crowd management, traffic analysis, and anomaly detection.
Furthermore, the rise of edge computing is impacting the Video Analytics Market. Edge analytics allows data to be processed and analyzed at the edge of the network, reducing latency and enabling real-time decision-making. This is particularly valuable in time-sensitive applications such as security and surveillance.
Restraints:
Data privacy and ethical concerns pose challenges to the growth of the Video Analytics Market. As video analytics systems become more sophisticated, there is a need to ensure that data collected from video sources is used in compliance with privacy regulations and ethical standards. Organizations must prioritize data protection to maintain trust and avoid legal issues.
Additionally, the complexity of deploying and managing video analytics systems can be a restraining factor. Implementing these systems requires integration with existing infrastructure, training personnel, and ensuring continuous system performance. These challenges may deter some organizations from adopting video analytics solutions.
Video Analytics Market Segmentation By Application:
The Security and Surveillance segment is expected to witness significant growth during the forecast period. Video analytics plays a crucial role in enhancing security by enabling real-time monitoring, intrusion detection, and threat identification. This application is widely adopted in industries such as retail, transportation, and critical infrastructure.
Furthermore, the Retail segment is anticipated to experience substantial growth. Video analytics solutions are used in retail environments to analyze customer behavior, optimize store layouts, and enhance customer experiences. Retailers leverage these insights to make informed decisions and improve sales strategies.
Video Analytics Market Segmentation By Deployment:
The On-Premises segment is driving the growth of the Video Analytics Market. Many organizations prefer to deploy video analytics solutions on-premises to have more control over their data and ensure compliance with internal security policies.
Regional Overview:
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North America is expected to contribute significantly to the growth of the global Video Analytics Market. The region's advanced technology infrastructure, increasing adoption of smart city initiatives, and emphasis on security drive the demand for video analytics solutions. Additionally, Europe is anticipated to witness substantial growth as businesses and governments invest in intelligent surveillance systems and smart transportation solutions.
Video Analytics Market Customer Landscape:
The Video Analytics Market report provides insights into the adoption lifecycle of the market, from early adopters to laggards. It analyzes adoption rates in various industries and regions, considering factors such as industry vertical, business size, and digital maturity.
Major Video Analytics Market Companies:
Companies in the Video Analytics Market are employing strategies such as partnerships, acquisitions, and technological innovations to gain a competitive edge.
- Avigilon Corporation (Motorola Solutions)
- Axis Communications AB
- Bosch Security Systems GmbH
- Honeywell International Inc.
- IBM Corporation
- Genetec Inc.
- Cisco Systems, Inc.
- Milestone Systems A/S
- Hanwha Techwin Co., Ltd.
- Aventura Technologies, Inc.
Segment Overview:
The Video Analytics Market report forecasts market growth by revenue at the global, regional, and country levels, analyzing trends and growth opportunities from 2019 to 2032.
- Application Outlook (USD Million, 2019 - 2032)
- Security and Surveillance
- Retail
- Traffic Management
- Smart City
- Industrial
- Others
- Deployment Outlook (USD Million, 2019 - 2032)
- On-Premises
- Cloud
- Geography Outlook (USD Million, 2019 - 2032)
- North America
- The U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Rest of Europe
- APAC
- China
- Japan
- India
- South America
- Brazil
- Argentina
- Chile
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
Key Benefits for Stakeholders
- Comprehensive Market Analysis- The study meticulously segments the market based on both economic and non-economic criteria, conducting both qualitative and quantitative analyses. This rigorous approach offers a deep understanding of various market segments and sub-segments.
- Accurate Market Valuation- Precise market values in USD Billion are furnished for each segment and sub-segment, facilitating stakeholders in making precise assessments of market opportunities.
- Identification of Growth Prospects- The report pinpoints regions and market segments poised for rapid expansion, as well as those with substantial market share potential. This assists stakeholders in making well-informed strategic decisions.
- Insightful Regional Analysis- The research explores regional factors influencing the market and scrutinizes product or service utilization in diverse geographical areas, enhancing comprehension of regional dynamics.
- Comprehensive Competitive Insight- The report encompasses critical data, including market share of leading players, recent service/product launches, collaborations, expansions, and acquisitions made by profiled companies in the last five years. This provides a holistic view of the competitive landscape.
- Detailed Company Profiles- In-depth profiles of key market participants encompass company overviews, business insights, product benchmarking, and SWOT analyses. This equips stakeholders with the means to evaluate the strengths and weaknesses of these entities.
- Future Market Outlook- The research furnishes an industry perspective on the present and future based on recent developments, enabling stakeholders to anticipate market trends and forthcoming changes.
- Thorough Market Examination- Porter’s five forces analysis is employed in the study to provide a comprehensive examination of the market from multiple angles, including competitive forces and market dynamics.
- Value Chain Insights- The research leverages the Value Chain concept to elucidate the market, offering insights into how products or services traverse the market ecosystem.
- Market Dynamics and Growth Prospects- The study presents current market dynamics and growth prospects for the foreseeable future, empowering stakeholders with invaluable information for strategic decision-making.
1 Industry Overview of Video Analytics
1.1 Video Analytics Market Overview
1.1.1 Video Analytics Product Scope
1.1.2 Market Status and Outlook
1.2 Global Video Analytics Market Size and Analysis by Regions
1.2.1 United States
1.2.2 EU
1.2.3 Japan
1.2.4 China
1.2.5 India
1.2.6 Southeast Asia
1.3 Video Analytics Market by Type
1.3.1 Software
1.3.2 Services
1.4 Video Analytics Market by End Users/Application
1.4.1 Border Security
1.4.2 Hospitality and Entertainment
1.4.3 City Surveillance
1.4.4 Transportation
1.4.5 Critical Infrastructure Protection
1.4.6 BFSI & Retail
1.4.7 Education
1.4.8 Others
2 Global Video Analytics Competition Analysis by Players
2.1 Video Analytics Market Size (Value) by Players (2016 and 2017)
2.2 Competitive Status and Trend
2.2.1 Market Concentration Rate
2.2.2 Product/Service Differences
2.2.3 New Entrants
2.2.4 The Technology Trends in Future
3 Company (Top Players) Profiles
3.1 Intelligent Video
3.1.1 Company Profile
3.1.2 Main Business/Business Overview
3.1.3 Products, Services and Solutions
3.1.4 Video Analytics Revenue (Value) (2012-2017)
3.1.5 Recent Developments
3.2 IBM
3.2.1 Company Profile
3.2.2 Main Business/Business Overview
3.2.3 Products, Services and Solutions
3.2.4 Video Analytics Revenue (Value) (2012-2017)
3.2.5 Recent Developments
3.3 IntelliVision
3.3.1 Company Profile
3.3.2 Main Business/Business Overview
3.3.3 Products, Services and Solutions
3.3.4 Video Analytics Revenue (Value) (2012-2017)
3.3.5 Recent Developments
3.4 Robert Bosch GmbH
3.4.1 Company Profile
3.4.2 Main Business/Business Overview
3.4.3 Products, Services and Solutions
3.4.4 Video Analytics Revenue (Value) (2012-2017)
3.4.5 Recent Developments
3.5 Cisco Systems, Inc.
3.5.1 Company Profile
3.5.2 Main Business/Business Overview
3.5.3 Products, Services and Solutions
3.5.4 Video Analytics Revenue (Value) (2012-2017)
3.5.5 Recent Developments
3.6 Honeywell International, Inc.
3.6.1 Company Profile
3.6.2 Main Business/Business Overview
3.6.3 Products, Services and Solutions
3.6.4 Video Analytics Revenue (Value) (2012-2017)
3.6.5 Recent Developments
3.7 Axis Communications AB
3.7.1 Company Profile
3.7.2 Main Business/Business Overview
3.7.3 Products, Services and Solutions
3.7.4 Video Analytics Revenue (Value) (2012-2017)
3.7.5 Recent Developments
3.8 Agent Video Intelligence
3.8.1 Company Profile
3.8.2 Main Business/Business Overview
3.8.3 Products, Services and Solutions
3.8.4 Video Analytics Revenue (Value) (2012-2017)
3.8.5 Recent Developments
3.9 Objectvideo, Inc.
3.9.1 Company Profile
3.9.2 Main Business/Business Overview
3.9.3 Products, Services and Solutions
3.9.4 Video Analytics Revenue (Value) (2012-2017)
3.9.5 Recent Developments
3.10 Avigilon
3.10.1 Company Profile
3.10.2 Main Business/Business Overview
3.10.3 Products, Services and Solutions
3.10.4 Video Analytics Revenue (Value) (2012-2017)
3.10.5 Recent Developments
3.11 Qognify
3.12 PureTech Systems
3.13 VCA Technology
3.14 DVTEL
3.15 Sony
3.16 Panasonic
3.17 PELCO
3.18 Infinova
3.19 Siemens
3.20 Nice Systems
3.21 Verint Systems
3.22 VideoIQ
3.23 Nuuo
4 Global Video Analytics Market Size by Type and Application (2012-2017)
4.1 Global Video Analytics Market Size by Type (2012-2017)
4.2 Global Video Analytics Market Size by Application (2012-2017)
4.3 Potential Application of Video Analytics in Future
4.4 Top Consumer/End Users of Video Analytics
5 United States Video Analytics Development Status and Outlook
5.1 United States Video Analytics Market Size (2012-2017)
5.2 United States Video Analytics Market Size and Market Share by Players (2016 and 2017)
6 EU Video Analytics Development Status and Outlook
6.1 EU Video Analytics Market Size (2012-2017)
6.2 EU Video Analytics Market Size and Market Share by Players (2016 and 2017)
7 Japan Video Analytics Development Status and Outlook
7.1 Japan Video Analytics Market Size (2012-2017)
7.2 Japan Video Analytics Market Size and Market Share by Players (2016 and 2017)
8 China Video Analytics Development Status and Outlook
8.1 China Video Analytics Market Size (2012-2017)
8.2 China Video Analytics Market Size and Market Share by Players (2016 and 2017)
9 India Video Analytics Development Status and Outlook
9.1 India Video Analytics Market Size (2012-2017)
9.2 India Video Analytics Market Size and Market Share by Players (2016 and 2017)
10 Southeast Asia Video Analytics Development Status and Outlook
10.1 Southeast Asia Video Analytics Market Size (2012-2017)
10.2 Southeast Asia Video Analytics Market Size and Market Share by Players (2016 and 2017)
11 Market Forecast by Regions, Type and Application (2017-2022)
11.1 Global Video Analytics Market Size (Value) by Regions (2017-2022)
11.1.1 United States Video Analytics Revenue and Growth Rate (2017-2022)
11.1.2 EU Video Analytics Revenue and Growth Rate (2017-2022)
11.1.3 Japan Video Analytics Revenue and Growth Rate (2017-2022)
11.1.4 China Video Analytics Revenue and Growth Rate (2017-2022)
11.1.5 India Video Analytics Revenue and Growth Rate (2017-2022)
11.1.6 Southeast Asia Video Analytics Revenue and Growth Rate (2017-2022)
11.2 Global Video Analytics Market Size (Value) by Type (2017-2022)
11.3 Global Video Analytics Market Size by Application (2017-2022)
12 Video Analytics Market Dynamics
12.1 Video Analytics Market Opportunities
12.2 Video Analytics Challenge and Risk
12.2.1 Competition from Opponents
12.2.2 Downside Risks of Economy
12.3 Video Analytics Market Constraints and Threat
12.3.1 Threat from Substitute
12.3.2 Government Policy
12.3.3 Technology Risks
12.4 Video Analytics Market Driving Force
12.4.1 Growing Demand from Emerging Markets
12.4.2 Potential Application
13 Market Effect Factors Analysis
13.1 Technology Progress/Risk
13.1.1 Substitutes
13.1.2 Technology Progress in Related Industry
13.2 Consumer Needs Trend/Customer Preference
13.3 External Environmental Change
13.3.1 Economic Fluctuations
13.3.2 Other Risk Factors
14 Research Finding/Conclusion
15 Appendix
Methodology
Analyst Introduction
Data Source
Figure Video Analytics Product Scope
Figure Global Video Analytics Market Size (Million USD) (2012-2017)
Table Global Video Analytics Market Size (Million USD) and Growth Rate by Regions (2012-2017)
Figure Global Video Analytics Market Share by Regions in 2016
Figure United States Video Analytics Market Size (Million USD) and Growth Rate by Regions (2012-2017)
Figure EU Video Analytics Market Size (Million USD) and Growth Rate by Regions (2012-2017)
Figure Japan Video Analytics Market Size (Million USD) and Growth Rate by Regions (2012-2017)
Figure China Video Analytics Market Size (Million USD) and Growth Rate by Regions (2012-2017)
Figure India Video Analytics Market Size (Million USD) and Growth Rate by Regions (2012-2017)
Figure Southeast Asia Video Analytics Market Size (Million USD) and Growth Rate by Regions (2012-2017)
Figure Global Video Analytics Market Share by Type in 2016
Figure Software Market Size (Million USD) and Growth Rate (2012-2017)
Figure Services Market Size (Million USD) and Growth Rate (2012-2017)
Figure Global Video Analytics Market Share by Application in 2016
Table Key Downstream Customer in Border Security
Figure Video Analytics Market Size (Million USD) and Growth Rate in Border Security (2012-2017)
Table Key Downstream Customer in Hospitality and Entertainment
Figure Video Analytics Market Size (Million USD) and Growth Rate in Hospitality and Entertainment (2012-2017)
Table Key Downstream Customer in City Surveillance
Figure Video Analytics Market Size (Million USD) and Growth Rate in City Surveillance (2012-2017)
Table Key Downstream Customer in Transportation
Figure Video Analytics Market Size (Million USD) and Growth Rate in Transportation (2012-2017)
Table Key Downstream Customer in Critical Infrastructure Protection
Figure Video Analytics Market Size (Million USD) and Growth Rate in Critical Infrastructure Protection (2012-2017)
Table Key Downstream Customer in BFSI & Retail
Figure Video Analytics Market Size (Million USD) and Growth Rate in BFSI & Retail (2012-2017)
Table Key Downstream Customer in Education
Figure Video Analytics Market Size (Million USD) and Growth Rate in Education (2012-2017)
Table Key Downstream Customer in Others
Figure Video Analytics Market Size (Million USD) and Growth Rate in Others (2012-2017)
Table Video Analytics Market Size (Million USD) by Players (2016 and 2017)
Figure Video Analytics Market Size Share by Players in 2016
Figure Video Analytics Market Size Share by Players in 2017
Table Intelligent Video Basic Information List
Table Video Analytics Business Revenue (Million USD) of Intelligent Video (2012-2017)
Figure Intelligent Video Video Analytics Business Revenue Market Share in 2016
Table IBM Basic Information List
Table Video Analytics Business Revenue (Million USD) of IBM (2012-2017)
Figure IBM Video Analytics Business Revenue Market Share in 2016
Table IntelliVision Basic Information List
Table Video Analytics Business Revenue (Million USD) of IntelliVision (2012-2017)
Figure IntelliVision Video Analytics Business Revenue Market Share in 2016
Table Robert Bosch GmbH Basic Information List
Table Video Analytics Business Revenue (Million USD) of Robert Bosch GmbH (2012-2017)
Figure Robert Bosch GmbH Video Analytics Business Revenue Market Share in 2016
Table Cisco Systems, Inc. Basic Information List
Table Video Analytics Business Revenue (Million USD) of Cisco Systems, Inc. (2012-2017)
Figure Cisco Systems, Inc. Video Analytics Business Revenue Market Share in 2016
Table Honeywell International, Inc. Basic Information List
Table Video Analytics Business Revenue (Million USD) of Honeywell International, Inc. (2012-2017)
Figure Honeywell International, Inc. Video Analytics Business Revenue Market Share in 2016
Table Axis Communications AB Basic Information List
Table Video Analytics Business Revenue (Million USD) of Axis Communications AB (2012-2017)
Figure Axis Communications AB Video Analytics Business Revenue Market Share in 2016
Table Agent Video Intelligence Basic Information List
Table Video Analytics Business Revenue (Million USD) of Agent Video Intelligence (2012-2017)
Figure Agent Video Intelligence Video Analytics Business Revenue Market Share in 2016
Table Objectvideo, Inc. Basic Information List
Table Video Analytics Business Revenue (Million USD) of Objectvideo, Inc. (2012-2017)
Figure Objectvideo, Inc. Video Analytics Business Revenue Market Share in 2016
Table Avigilon Basic Information List
Table Video Analytics Business Revenue (Million USD) of Avigilon (2012-2017)
Figure Avigilon Video Analytics Business Revenue Market Share in 2016
Table Qognify Basic Information List
Table Video Analytics Business Revenue (Million USD) of Qognify (2012-2017)
Figure Qognify Video Analytics Business Revenue Market Share in 2016
Table PureTech Systems Basic Information List
Table Video Analytics Business Revenue (Million USD) of PureTech Systems (2012-2017)
Figure PureTech Systems Video Analytics Business Revenue Market Share in 2016
Table VCA Technology Basic Information List
Table Video Analytics Business Revenue (Million USD) of VCA Technology (2012-2017)
Figure VCA Technology Video Analytics Business Revenue Market Share in 2016
Table DVTEL Basic Information List
Table Video Analytics Business Revenue (Million USD) of DVTEL (2012-2017)
Figure DVTEL Video Analytics Business Revenue Market Share in 2016
Table Sony Basic Information List
Table Video Analytics Business Revenue (Million USD) of Sony (2012-2017)
Figure Sony Video Analytics Business Revenue Market Share in 2016
Table Panasonic Basic Information List
Table Video Analytics Business Revenue (Million USD) of Panasonic (2012-2017)
Figure Panasonic Video Analytics Business Revenue Market Share in 2016
Table PELCO Basic Information List
Table Video Analytics Business Revenue (Million USD) of PELCO (2012-2017)
Figure PELCO Video Analytics Business Revenue Market Share in 2016
Table Infinova Basic Information List
Table Video Analytics Business Revenue (Million USD) of Infinova (2012-2017)
Figure Infinova Video Analytics Business Revenue Market Share in 2016
Table Siemens Basic Information List
Table Video Analytics Business Revenue (Million USD) of Siemens (2012-2017)
Figure Siemens Video Analytics Business Revenue Market Share in 2016
Table Nice Systems Basic Information List
Table Video Analytics Business Revenue (Million USD) of Nice Systems (2012-2017)
Figure Nice Systems Video Analytics Business Revenue Market Share in 2016
Table Verint Systems Basic Information List
Table Video Analytics Business Revenue (Million USD) of Verint Systems (2012-2017)
Figure Verint Systems Video Analytics Business Revenue Market Share in 2016
Table VideoIQ Basic Information List
Table Video Analytics Business Revenue (Million USD) of VideoIQ (2012-2017)
Figure VideoIQ Video Analytics Business Revenue Market Share in 2016
Table Nuuo Basic Information List
Table Video Analytics Business Revenue (Million USD) of Nuuo (2012-2017)
Figure Nuuo Video Analytics Business Revenue Market Share in 2016
Table Global Video Analytics Market Size (Million USD) by Type (2012-2017)
Figure Global Video Analytics Market Size Share by Type in 2012
Figure Global Video Analytics Market Size Share by Type in 2013
Figure Global Video Analytics Market Size Share by Type in 2014
Figure Global Video Analytics Market Size Share by Type in 2015
Figure Global Video Analytics Market Size Share by Type in 2016
Figure Global Video Analytics Market Size Share by Type in 2017
Table Global Video Analytics Market Size (Million USD) by Application (2012-2017)
Figure Global Video Analytics Market Size (Million USD) by Application in 2012
Figure Global Video Analytics Market Size (Million USD) by Application in 2013
Figure Global Video Analytics Market Size (Million USD) by Application in 2014
Figure Global Video Analytics Market Size (Million USD) by Application in 2015
Figure Global Video Analytics Market Size (Million USD) by Application in 2016
Figure Global Video Analytics Market Size (Million USD) by Application in 2017
Table Top Consumer/End Users of Video Analytics
Figure United States Video Analytics Market Size (Million USD) and Growth Rate by Regions (2012-2017)
Table United States Video Analytics Market Size (Million USD) by Players (2012-2017)
Figure United States Video Analytics Market Size Share by Players in 2016
Figure United States Video Analytics Market Size Share by Players in 2017
Figure EU Video Analytics Market Size (Million USD) and Growth Rate by Regions (2012-2017)
Table EU Video Analytics Market Size (Million USD) by Players (2012-2017)
Figure EU Video Analytics Market Size Share by Players in 2016
Figure EU Video Analytics Market Size Share by Players in 2017
Figure Japan Video Analytics Market Size (Million USD) and Growth Rate by Regions (2012-2017)
Table Japan Video Analytics Market Size (Million USD) by Players (2012-2017)
Figure Japan Video Analytics Market Size Share by Players in 2016
Figure Japan Video Analytics Market Size Share by Players in 2017
Figure China Video Analytics Market Size (Million USD) and Growth Rate by Regions (2012-2017)
Table China Video Analytics Market Size (Million USD) by Players (2012-2017)
Figure China Video Analytics Market Size Share by Players in 2016
Figure China Video Analytics Market Size Share by Players in 2017
Figure India Video Analytics Market Size (Million USD) and Growth Rate by Regions (2012-2017)
Table India Video Analytics Market Size (Million USD) by Players (2012-2017)
Figure India Video Analytics Market Size Share by Players in 2016
Figure India Video Analytics Market Size Share by Players in 2017
Figure Southeast Asia Video Analytics Market Size (Million USD) and Growth Rate by Regions (2012-2017)
Table Southeast Asia Video Analytics Market Size (Million USD) by Players (2012-2017)
Figure Southeast Asia Video Analytics Market Size Share by Players in 2016
Figure Southeast Asia Video Analytics Market Size Share by Players in 2017
Figure Global Video Analytics Market Size (Million USD) by Regions (2017-2022)
Table Global Video Analytics Market Size (Million USD) by Regions (2017-2022)
Figure Global Video Analytics Market Size Share by Regions in 2017
Figure Global Video Analytics Market Size Share by Regions in 2022
Figure United States Video Analytics Revenue (Million USD) and Growth Rate (2017-2022)
Figure EU Video Analytics Revenue (Million USD) and Growth Rate (2017-2022)
Figure Japan Video Analytics Revenue (Million USD) and Growth Rate (2017-2022)
Figure China Video Analytics Revenue (Million USD) and Growth Rate (2017-2022)
Figure India Video Analytics Revenue (Million USD) and Growth Rate (2017-2022)
Figure Southeast Asia Video Analytics Revenue (Million USD) and Growth Rate (2017-2022)
Table Global Video Analytics Market Size (Million USD) by Type (2017-2022)
Figure Global Video Analytics Market Size Share by Type in 2017
Figure Global Video Analytics Market Size Share by Type in 2022
Table Global Video Analytics Market Size (Million USD) by Application (2017-2022)
Figure Global Video Analytics Market Size (Million USD) by Application in 2017
Figure Global Video Analytics Market Size (Million USD) by Application in 2022
RESEARCH METHODOLOGY
A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.
Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.
Now let’s take a closer look at the research methods here.
Secondary Research Model
Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.
Primary Insights
Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.
However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.
Market Estimation
The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.
Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.
Final Presentation
The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.
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