Video Analytics Market is Expected to Grow at a CAGR of 21.0% to Reach $19.3 Billion By 2029 - Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research®.
The video analytics technology provides round-the-clock surveillance of premises without physical monitoring, with higher efficiency than manual surveillance.
- The video analytics technology provides round-the-clock surveillance of premises without physical monitoring, with higher efficiency than manual surveillance.
- However, its effectiveness, high cost of installation, and public privacy concerns are the major restraining factors slowing the growth of the market.
- The complexity of video processing tools, data drifting, and storage pose serious challenges to the growth of this market.
- Based on deployment mode, in 2022, the cloud-based segment is estimated to account for the largest share of the video analytics market.