Video Analytics Market Worth $19.3 Billion by 2029

 

According to a new market research report titled, ‘Video Analytics Market by Component (Software & Services), Application (Facial Recognition, People Counting, ANPR, Video Telematics), End-use Industry (BFSI, Education, Healthcare, Retail, Manufacturing, Government)—Global Forecast to 2029,’ the video analytics market is expected to reach $19.3 billion by 2029 at a CAGR of 21% during the forecast period 2022­–2029.

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The key function of video analytics is to automatically recognize temporal and spatial events in videos. Video analytics software are used to review the surveillance videos recorded with a video surveillance system. Video analytics surveillance system is highly efficient; it reduces the workload on security & management staff and helps capture the full value of security video by making IP camera systems more perceptive at work.

The growth of the video analytics market is primarily d riven by factors such as the growing implementation of video analytics in surveillance across different end-use industries, including banking, financial services, and insurance (BFSI), education, healthcare, retail, transportation, and manufacturing. In addition, the technological advancement in deep learning, artificial intelligence & edge computing has led to an improvement in the efficiency & accuracy of video analytics, further boosting the demand for this market.

The Impact of COVID-19 on the Video Analytics Market

In the first quarter of 2020, the world was hit by the COVID-19 pandemic. The spread of COVID-19 disease has had an unprecedented impact on public health and industrial structures, accelerating social reforms in several areas. Though the macro challenges, such as disrupted supply chains, decentralized workforce, and the provision of safe and healthy employee workspaces, were different in past recessions, the market players had to deal with these monumental challenges.

COVID-19 disease has severely impacted almost all major industries, including education, logistics & supply chain, healthcare, BFSI, retail, and manufacturing. In the second quarter of 2020, the COVID-19 pandemic spread to almost all parts of the world, forcing the governments to impose restrictions on all economic and social activities. Several governments have started adopting video analytics to monitor the situation and keep the public safe. The video analytics software are in high demand due to factors such as facial recognition, crowd management, people counting, and intrusion & access control. The adoption of video analytics has radically helped the local governments keep the spread of the virus to a minimum. This has further boosted the global demand for video analytics software.

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In March 2021, Honeywell International, Inc. (U.S.) announced that it is working with San Diego International Airport (SAN)'s accelerator program, the Airport Innovation Lab, to test the use of advanced video analytics technology to enhance airport health and safety. Using deep-learning, artificial intelligence, and video analytics, the Honeywell Pro-Watch Video Management System (VMS) uses cameras to identify if the airport's occupants are complying with guidelines around social distancing and wearing masks. Under the recommended operating conditions, the advanced analytics provides an industry-leading level of accuracy, isolates, and reports instances of non-compliance to the airport staff.

The video analytics market is segmented based on component (software and services), deployment mode (cloud and on-premise), application (facial recognition, intrusion, & access control, object & pattern detection, people counting, crowding & flow management, automatic number plate recognition (ANPR) system, video telematics, and vehicle counting), end-use industry (BFSI, education, aerospace and defense, healthcare, manufacturing, retail, automotive, transportation & logistics, government, agriculture, and others), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at the country level.

Based on component, in 2022, the software segment is estimated to account for the largest share of the video analytics market. The large market share of the segment can be attributed to the growing adoption of video analytics software by various end-use industries. However, the services segment is expected to grow at the highest CAGR during the forecast period due to the growing demand for managed & professional services.

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Based on deployment mode, in 2022, the cloud-based segment is estimated to account for the largest share of the video analytics market. The high growth of this segment is attributed to the benefits offered by cloud-based systems such as flexibility, quick & easy global real-time data access, scalability as per user demand, and technology upgradation with the latest firewall.

Based on application, the people counting segment is estimated to account for the largest share of the video analytics market in 2022. During the COVID-19 pandemic, end-use industries such as healthcare, BFSI, education, retail, and governments widely adopted video analytics for people counting. It helps these industries maintain social distancing, safeguard premises, and monitor crowd density at their places. However, the video telematics segment is expected to grow at the highest CAGR during the forecast period.

Based on end-use industry, in 2022, the BFSI segment is expected to account for the largest market share. The BFSI sector has adopted video analytics for security & surveillance of banks, surveillance of premises, face & mask detection, and monitoring of people's behavior in banks. However, the healthcare segment is expected to become the fastest growing market during the forecast period. The growing need for surveillance of hospital premises, maintaining social distancing, and keeping hospital premises safe are the major driving factors for the fast growth of this segment.

Based on geography, in 2022, North America is projected to account for the largest share of the market. This can be attributed to the increased adoption of video analytics in various end-use industries, such as healthcare, BFSI, manufacturing, and education. These industries have adopted video analytics to monitor their workforce effectively during the pandemic. However, the Asia-Pacific region is projected to have the fastest-growing CAGR during the forecast period due to the rapid adoption of emerging technologies in their planned smart city projects. Also, the healthcare, education, and manufacturing sectors are widely adopting video analytics to improve their efficiency and performance.

The report also includes an extensive assessment of the key strategic developments by leading market players over the past four years (2019–2022). The video analytics market has witnessed product launches & enhancements that enabled companies to broaden their product portfolios, partner with other key players, sign contracts with other industry players, and acquire SMEs to boost their market presence.

In July 2021, Gorilla Technology Group, Inc. (R.O.C.) partnered with Tekwind (Japan), a leading hardware distributor in Japan, to deliver Gorilla IVAR (an edge AI video analytic platform) and help expand the company’s presence in the country.

The key video analytics software players operating in the market include AllGoVision Technologies Pvt. Ltd. (India), Axis Communications AB (Sweden), Cisco Systems, Inc. (U.S.), Honeywell International, Inc. (U.S.), IBM Corporation (U.S.), IntelliVision (U.S.), Verint Systems, Inc. (U.S.), Huawei Technologies Co., Ltd. (China), Gorilla Technology Group, Inc. (R.O.C.), i2v Systems Pvt. Ltd. (India), ADT, Inc. (U.S.), Agent Video Intelligence Ltd. (U.S.), IntuVision, Inc. (U.S.), Avigilon Corporation (Canada), Stanley Convergent Security Solutions, Inc. (U.S.), Eagle Eye Networks (U.S.), and Milestone Systems A/S (Denmark).

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Scope of the Report:

Video Analytics Market, by Component

• Software
• Central Processing Software
• Edge Processing Software
• Services
• Managed Services
• Professional Services

Video Analytics Market, by Deployment Mode

• Cloud-based
• On-premise

Video Analytics Market, by Application

• Facial Recognition
• Intrusion & Access Control
• Object & Pattern Detection
• People Counting
• Crowding & Flow Management
• Automatic Number Plate Recognition (ANPR) System
• Video Telematics
• Vehicle Counting

Video Analytics Market, by End-use Industry

• BFSI
• Education
• Aerospace & Defense
• Healthcare
• Manufacturing Industry
• Retail
• Automotive, Transportation, and Logistics
• Government
• Agriculture
• Others (Event Management, Hospitality, Entertainment)

 

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Video Analytics Market, by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Netherlands
• Rest of Europe (RoE)
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Australia & New Zealand
• Rest of Asia-Pacific (RoAPAC)
• Latin America
• Mexico
• Brazil
• Rest of Latin America
• Middle East & Africa
• Saudi Arabia
• UAE
• Israel
• Rest of Middle East & Africa (RoMEA)

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“Industrial Control Systems Security Market” Worth $29.9 Billion by 2029

 

Meticulous Research®—a leading global market research company, published a research report titled, ‘Industrial Control Systems Security Market by Offering, Security Type (Endpoint, Cloud, Network), Organization Size, Application (DLP, DDoS, UTM, IAM, SIEM), End-use Industry (Automotive, Electronics & Electrical, Energy & Utility), and Geography -Global Forecasts to 2029’.

 

According to this latest publication from Meticulous Research®, the global industrial control systems security market is expected to grow at a CAGR of 7.6% from 2022–2029 to reach $29.9 billion by 2029. Consistent rise in the adoption of cloud-based services, supportive government initiatives and regulations towards the adoption of ICS security solutions and increasing digitization in the manufacturing industry are the major factors driving the growth of this market.

 

In addition, the increasing adoption of Industry 4.0 and smart manufacturing and rising demand for robotic process automation systems are expected to offer significant growth opportunities for the market growth. Factors including high capital expenditure for deploying ICS security systems are a major market challenge. The use of artificial intelligence (AI) and 5G technology are trends in the market. However, the perception of ICS security as a comprehensive solution may restrain the growth of this market to a certain extent.

 

The global industrial control systems security market is segmented based on offering, security type, organization size, application, and end-use industry. The study also evaluates industry competitors and analyses the market at the country level.

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Based on offering, the industrial control systems security market is segmented into hardware, software, and services. In 2022, the software segment is estimated to account for the largest share of the industrial control systems security market. The increasing demand for ICS security solutions and robust & cost-effective security solutions among business enterprises to strengthen their security infrastructure, the increasing number of large enterprises using cloud platforms for data repositories, and the growing number of data security concerns are driving the growth of this segment. The software segment is also projected to register the highest CAGR during the forecast period.

 

Based on security type, the industrial control systems security market is segmented into application security, endpoint security, cloud security, and network security. In 2022, the network security segment is estimated to account for the largest share of the industrial control systems security market. The rising demand for network security & privacy; increasing adoption of ICS security solutions for protecting reliability & usability of the data & the network connecting different industrial applications; and surge in incidences of APTs, malware, and phishing attacks are expected to drive the growing demand for the network security segment in the coming years. However, the cloud security segment is projected to register the highest CAGR during the forecast period.

 

Based on organization size, the industrial control systems security market is segmented into small & medium enterprises (SMEs) and large enterprises. In 2022, the large enterprises segment is estimated to account for the largest share of the industrial control systems security market. The increasing number of cyber threats across large network infrastructures & database servers, growing focus on developing strategic IT initiatives, and early adopters of advanced technologies are expected to drive the segment growth in the coming years. Industrial control systems security increases efficiency and usability in large enterprises. With this new paradigm, ICS and IoT security solutions are required to protect the safety and functionality of Internet-connected systems in these enterprises. However, the SMEs segment is projected to register the highest CAGR during the forecast period.

 

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Based on application, the industrial control systems security market is segmented into data loss prevention, unified threat management, encryption, identity & access management, risk & compliance management, antivirus/antimalware, intrusion detection/prevention system, distributed denial of service mitigation, security & vulnerability management, security configuration management, security information, and event management, whitelisting, firewall and other applications.

 

In 2022, the identity & access management segment is estimated to account for the largest share of the industrial control systems security market. The increasing need for integrity and safety of confidential information in end-use industries, the growing emphasis on compliance management, the increasing trend of mobility solutions, and the increase in security concerns among organizations are driving the growth of this segment. However, the data loss prevention segment is projected to register the highest CAGR during the forecast period.

 

Based on end-use industry, the industrial control systems security market is segmented into automotive, electronics & electrical, chemicals, heavy metals & machinery, energy & utility, and other end-use industries. In 2022, the energy & utility segment is estimated to account for the largest share of the industrial control systems security market. The growth of this segment is attributed to the government initiatives to promote industrial automation and the growing number of cyberattacks on the energy & utility industry. In 2022, in the U.S., hackers developed new tools to gain full system access to multiple industrial control devices and federal agencies, including the U.S. Department of Energy. This could have allowed supervisory control and data acquisition devices at energy facilities to be compromised. Incidents like these are expected to propel the demand for industrial control systems security.

 

Some of the other factors driving the growth of this segment include shifting preference from traditional business models to sophisticated technologies, the need for cloud-based security solutions, rising investments in Industry 4.0 technologies, and increasing demand for ICS security solutions. However, the automotive segment is projected to register the highest CAGR during the forecast period.

 

Based on geography, the industrial control systems security market is segmented into North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. In 2022, North America is estimated to account for the largest share of the industrial control systems security market. The large market share of this region is attributed to the increasing focus on technological innovation, consistently growing industrialization, supportive government initiatives for developing industrial security infrastructure, growing awareness regarding ICS security among small & medium-sized enterprises, and high adoption of data-driven methods in manufacturing operations. However, Asia-Pacific is expected to register the highest CAGR during the forecast period. The high growth of this segment is attributed to the growing cybercrimes, rapid investments in industrial infrastructure, and high adoption of advanced technologies such as IoT and cloud computing in this region.

Key Players:

The key players operating in the industrial control systems security market are FireEye, Inc. (U.S.), Checkpoint Software Technologies Ltd. (Israel), IBM Corporation (U.S.), Palo Alto Networks, Inc. (U.S.), Honeywell International Inc. (U.S.), Cisco Systems, Inc. (U.S.), Fortinet, Inc. (U.S.), Darktrace Holdings Limited (U.K.), ABB (Switzerland), BAE Systems (U.K.), Schneider Electric SE (France), Trend Micro Incorporated (Japan), Applied Security (Netherlands), Kaspersky Labs (Russia), Airbus (France), Juniper Networks, Inc. (U.S.), Sophos Ltd. (U.K.), Imperva (U.S.), Claroty (U.S.), Cyberbit (Israel), Verve Industrial Protection (U.S.), Crowdstrike Holdings, Inc. (U.S.), Positive Technologies (Russia), and Radiflow (U.S.).

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Key questions answered in the report-

 

·         Which are the high-growth market segments based on offering, organization size, security type, application, and end-use industry?

·         What was the historical market for industrial control systems security?

·         What are the market forecasts and estimates for the period 2022–2029?

·         What are the major drivers, restraints, and opportunities in the industrial control systems security market?

·         Who are the major players, and what shares do they hold in the industrial control systems security market?

·         How is the competitive landscape in the industrial control systems security market?

·         What are the recent developments in the industrial control systems security market?

·         What are the different strategies adopted by the major players in the industrial control systems security market?

·         What are the key geographic trends, and which are the high-growth countries?

·         Who are the local emerging players in the global industrial control systems security market, and how do they compete with the other players?

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NON INVASIVE PRENATAL TESTING (NIPT) MARKET GLOBAL OPPORTUNITY ANALYSIS AND INDUSTRY FORECAST (2019 – 2027)

Meticulous Research®– leading global market research company published a research report titled “Non Invasive Prenatal Testing (NIPT) Market by Product & Solution (Consumables, Systems, Software), Method (Ultrasound Screening, Cell Free DNA Test), Application (Trisomy, Microdeletions, Monosomy), and End-user (Diagnostic Labs) – Global Forecast to 2027”. 

According to this latest publication from Meticulous Research®, the global non-invasive prenatal testing market is expected to grow at a CAGR of 17.1% from 2019 to reach $13.1 billion by 2027.

The high growth of non-invasive prenatal testing market is mainly attributed to the high risk of chromosomal abnormalities with increasing maternal age, rise in occurrences of chromosomal aneuploidies among fetus, development of advanced and new technologies and non-invasive parenteral testing products, and improving reimbursement scenario for NIPT. In addition, rising awareness regarding non-invasive prenatal testing and untapped market opportunity in emerging markets offer significant growth opportunities for the players operating in this market.

Non-Invasive Prenatal Testing (NIPT), a novel genetic screening method based on the analysis of cell-free deoxyribose nucleic acid (cf-DNA) of the fetus in the maternal plasma is considered as a valuable test for the pregnant women to provide early diagnosis of genetic disorders. NIPT offers several advantages over conventional prenatal testing procedures; in addition to being non-invasive, these tests offer shorter turnaround times, lower risk to fetus and pregnant women during testing, and high accuracy. Increasing occurrences of chromosomal aneuploidies among fetus with the increase in maternal age, availability of the partial reimbursement policies for NIPT services in some of the countries, and developments in new technologies are the key factors driving steady growth in the global NIPT market.

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The global non-invasive prenatal testing market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2027- by product & solution (consumables, systems, software), method (ultrasound screening, cell free DNA test), application (trisomy, microdeletions, monosomy), and end-user. The study also evaluates industry competitors and analyzes the market at regional and country level.

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On the basis of products and solutions, the kits/consumables segment commanded the largest share of the overall NIPT market in 2019, mainly due to increasing incidences of chromosomal abnormalities, rise in the number of tests and products for NIPT, and improvement of approvals or licenses for assays.

On the basis of application, trisomy segment accounted for the largest share of the overall NIPT market in 2019. The large share of this segment is mainly attributed to the factors such as the increasing maternal age and rising incidence of chromosomal abnormalities.

On the basis of end user, diagnostic laboratories segment accounted for the largest share of the overall NIPT market in 2019, as the large volume of NIPT testing done at diagnostic laboratories owing to availability of the well-equipped facility and availability of trained/skilled laboratory technicians. The initiatives taken by diagnostic laboratories to provide high quality testing services is further driving the growth in this market.

This research report analyzes major geographies and provides comprehensive analysis for North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, India, and RoAPAC), Latin America, and the Middle East & Africa. North America commanded the largest share of the global non-invasive prenatal testing market in 2019, followed by Europe and Asia-Pacific regions. High diagnostic and treatment rate of trisomy disorders and the emergence of key organizations in the U.S. are accelerating the non-invasive prenatal testing market in the North American region.

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Key questions answered in the report-

• Which are the high growth market segments in terms of product & solutions, method, application, end-users, and region/countries?
• What was the historical market for non-invasive prenatal testing across the globe?
• What are the market forecasts and estimates for the period 2019-2027?
• What are the major drivers, restraints, opportunities, and trends in the global non-invasive prenatal testing market?
• Who are the major players in the non-invasive prenatal testing market?
• How is the competitive landscape and who are the market leaders in the global non-invasive prenatal testing market?
• What are the different strategies adopted by the major players in the global non-invasive prenatal testing market?
• What are the geographical trends and high growth regions/ countries?

Key Players

The key players operating in the global non-invasive prenatal testing market are Agilent Technologies, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), PerkinElmer, Inc. (Massachusetts), Illumina, Inc. (U.S.), Beijing Genomics Institute (China), Eurofins LifeCodexx AG (Germany), NATERA, INC. (U.S.), Igenomix SL (Spain), Laboratory Corporation of America Holdings (U.S.), F. Hoffman-La Roche Ltd. (Switzerland), GE Healthcare (U.S.), and Yourgene Health (U.K.) among others.

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Scope of the Report:

Non-Invasive Prenatal Testing Market by Product & Solutions

• Kits / Consumables
• Systems
  • Nuchal Translucency Ultrasound Devices
  • Next Generation Sequencing Systems
  • Microarrays
  • Polymerase Chain Reaction Instruments
• Software

Market by Non-Invasive Prenatal Testing Method

• Ultrasound Screening
• Cell-free DNA Screening

Non-Invasive Prenatal Testing Market by Application

• Trisomy Detection
• Microdeletions Syndrome
• Sex Chromosomal Abnormalities
• Other Applications

Note: Other applications include sex determination and cystic fibrosis

Non-Invasive Prenatal Testing Market by End User

• Diagnostic Laboratories
• Hospitals
• Academic and Research Institutes

Non-Invasive Prenatal Testing Market by Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K
  • France
  • Italy
  • Spain
  • Rest of Europe (RoE)
• Asia-Pacific (APAC)
  • Japan
  • China
  • India
  • Rest of APAC (RoAPAC)
• Latin America
• Middle East and Africa                       ………..Continue

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