According to a new report published by Allied Market Research, titled, "Video Analytics in Banking Market," The video analytics in banking market was valued at $1.4 billion in 2022, and is estimated to reach $12.1 billion by 2032, growing at a CAGR of 24.7% from 2023 to 2032.
Increase in adoption of high-resolution cameras and the rise in demand for real-time event detection is boosting the growth of global video analytics in banking market. In addition, increase in the use of digital transformation technology positively impacts growth of the video analytics in banking market. However, government regulations related to CCTV surveillance & high cost, and increasing security concerns are hampering the video analytics in banking market growth. On the contrary, rising Innovations in the banking industry are expected to offer remunerative opportunities for expansion of the video analytics in banking market during the forecast period.
The video analytics in banking market is segmented on the basis of by component, deployment mode, application, and region. On the basis of component, the market is categorized into solution and service. On the basis of deployment mode, the market is fragmented into on-premise, and cloud. By application, it is classified into security and fraud detection, customer behavior analysis, queue management, ATM monitoring, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the video analytics in banking market are Axis Communications AB, AllGoVision Technologies Pvt. Ltd, bosch sicherheitssysteme gmbh, Wipro Limited, Eagle Eye Networks, Inc., IBM Corporation, Zhejiang Dahua Technology Co., Ltd, Grekkom Technologies, Senstar Corporation Inc., and Avigilon Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the global video analytics in banking market forecast along with the current and future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on global video analytics in banking market trend is provided in the report.
- The Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2022 to 2032 is provided to determine the market potential.
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Key Market Segments
By Component
By Deployment Mode
By Application
- Others
- Security and Fraud Detection
- Customer Behavior Analysis
- Queue Management
- ATM Monitoring
By Region
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players:
- AllGoVision Technologies Pvt. Ltd
- Avigilon Corporation
- Axis Communications AB
- Bosch Sicherheitssysteme GmbH
- Eagle Eye Networks, Inc.
- Grekkom Technologies
- IBM Corporation
- Senstar Corporation Inc.
- Wipro Limited
- Zhejiang Dahua Technology Co., Ltd