Global Video Analytics in Banking Market to Reach $12.1 Billion, by 2032 at 24.7% CAGR: Allied Market Research

The growth of the video analytics in banking market is driven by the increase in adoption of high-resolution cameras, the rise in demand for real-time event detection, and the increase in use of digital transformation technology.
PORTLAND, Ore., Aug. 3, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Video Analytics in Banking Market by Component (Software, and Services), Deployment Mode (On-premise, and Cloud), and Application (Security and Fraud Detection, Customer Behavior Analysis, Queue Management, ATM Monitoring, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global Video analytics in banking Market was valued at $1,379.62 million in 2022 and is estimated to reach $12,140.72 million by 2032, exhibiting a CAGR of 24.7% from 2023 to 2032.
Request PDF Brochure: https://www.alliedmarketresearch.com/request-sample/111242 
Prime determinants of growth 
Increase in adoption of high-resolution cameras and the rise in demand for real-time event detection are boosting the growth of the global video analytics in banking market. In addition, the increase in 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 increase in 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.
Report coverage & details:
Report Coverage
Details
Forecast Period
2023–2032
Base Year
2022
Market Size in 2022
$ 1,379.62 million
Market Size in 2032
$ 12,140.72 million
CAGR
24.7 %
No. of Pages in Report
231
Segments covered
Component, Deployment Mode, Application, and Region.
Drivers 
Increase in adoption of high-resolution cameras. 
Rise in demand for real-time event detection
Increase in use of digital transformation technology
Opportunities
Rising innovations in the banking industry
Restraints
Government regulations related to CCTV surveillance & high cost
Increase in security concerns
 
Covid-19 Scenario
The video analytics in banking market has faced challenges during the COVID-19 pandemic, owing to social distancing measures, supply chain disruptions, and limited movements of goods and services.However, the outbreak accelerated the adoption of video analytics integrated surveillance systems, closed-circuit television (CCTV) cameras, and video streaming services.The service segment to maintain its leadership status throughout the forecast period.
Based on the component, the software segment held the highest market share in 2022, accounting for around two-thirds of the global video analytics in banking market revenue, owing to increasing adoption of video analytics applications for reducing crime rates through timely alerts about suspicious or unusual activities. However, the service segment is projected to manifest the highest CAGR of 26.5% from 2023 to 2032, owing to the increase in adoption of digital technology across numerous industries and the need to offer better services. 
The on-premise segment to maintain its leadership status throughout the forecast period
Based on deployment mode, the on-premise segment held the highest market share in 2022, accounting for more than three-fifths of the global video analytics in banking market revenue, owing to industries that handle sensitive data and are vulnerable to cyberattacks or data breaches, such as banking, financial services & insurance (BFSI), education, and healthcare, have adopted the on-premise deployment approach. However, the cloud segment is projected to manifest the highest CAGR of 26.2% from 2023 to 2032, owing to growing acceptance in programs like motion detection, intrusion detection, number plate recognition. 
Procure Complete Report (231 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/44VmyqY 
The customer behavior analysis segment to maintain its lead position during the forecast period
Based on application, the security and fraud detection segment accounted for the largest share in 2022, contributing to nearly two-fifths of the global video analytics in banking market revenue, owing to increasing usage of video analytics to deliver superior customer engagement. However, the customer behavior analysis segment is expected to portray the largest CAGR of 28.9% from 2023 to 2032 and is projected to maintain its lead position during the forecast period, owing to increasing demand for technologies that help financial institutions to increase customer satisfaction, gain a competitive advantage.
Asia-Pacific maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global video analytics in banking market revenue, owing to presence of most successful video analytics in banking businesses in the region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 27.8% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to increasing government initiatives in the banking industry and an increasing number of mobile and internet users in developing nations such as India and China are accounted development of private and rural banking.
Leading Market Players: –
AllGoVision Technologies Pvt. Ltd,Senstar Corporation Inc.,Wipro Limited,Bosch Sicherheitssysteme GmbH,Eagle Eye Networks, Inc.,IBM Corporation,Zhejiang Dahua Technology Co., Ltd,Axis Communications AB,Avigilon Corporation,Grekkom TechnologiesThe report provides a detailed analysis of these key players in the global video analytics in banking market. These players have adopted different strategies such as acquisition, partnerships, and new product launches to increase their market share and maintain dominant shares in the market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits for Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the video analytics in banking market analysis from 2023 to 2032 to identify the prevailing video analytics in banking market opportunities.Video analytics in banking market outlook research is offered along with information related to key drivers, restraints, and opportunities.Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.In-depth analysis of the video analytics in banking market segmentation assists to determine the prevailing video analytics in banking market opportunity.Major countries in each region are mapped according to their revenue contribution to the global video analytics in banking market forecast.Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.The report includes an analysis of the regional as well as global video analytics in banking market trends, key players, market segments, application areas, and market growth strategies.
Video Analytics in Banking Market Report Highlights
By Component
SoftwareServiceBy Deployment Mode
On-premiseCloudBy Application
OthersSecurity and Fraud DetectionCustomer Behavior AnalysisQueue ManagementATM MonitoringBy Region
North America (U.S., Canada)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: Avigilon Corporation, Eagle Eye Networks, Inc., AllGoVision Technologies Pvt. Ltd, Wipro Limited, Bosch Sicherheitssysteme GmbH, Grekkom Technologies, Zhejiang Dahua Technology Co., Ltd, IBM Corporation, Axis Communications AB, Senstar Corporation Inc.
Want to Access the Statistical Data and Graphs, Key Players’ Strategies: https://www.alliedmarketresearch.com/video-analytics-in-banking-market/purchase-options
Similar Reports We Have in BFSI Industry:
Banking Credit Analytics Market by Component (Solution, Service), by Deployment Mode (On-premise, Cloud), by Application (Risk Management, Fraud Detection, Credit Analysis, Portfolio Management, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
Voice Banking Market by Component (Solution, Services), by Deployment Mode (On-Premise, Cloud), by Technology (Machine Learning, Deep Learning, Natural Language Processing, Others), by Application (Banks, NBFCs, Credit Unions, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
Blockchain In Retail Banking Market by Component (Solution, Service), by Deployment Mode (On-Premise, Cloud), by Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises), by Application (Remittances, Identity Management, Compliance Management, Payments and Smart Contracts, Fraud Prevention, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
Banking Security Market by Component (Software, Service), by Software Type (Video Surveillance, Access Control, Intrusion Detection, Physical Security Information Management), by Service Type (Consulting Training Service, Integration Service, Managed Service), by Application (Multi-Factor Authentication, Risk and Compliance, Safety and Security, Risk Management, Cyber Security) and by End User (Banks, Non-Banking Financial Institutions): Global Opportunity Analysis and Industry Forecast, 2023-2032
Banking Enterprise Mobility Market by Component (Solution, Services), by Device Type (Laptops, Mobile Devices, Tablets) and by End User (Small Enterprise, Medium Enterprise, Large Enterprise): Global Opportunity Analysis and Industry Forecast, 2023-2032
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact Us:
David Correa5933 NE Win Sivers Drive#205, Portland, OR 97220United StatesUSA/Canada (Toll Free):+1-800-792-5285, +1-503-894-6022UK: +44-845-528-1300Hong Kong: +852-301-84916India (Pune): +91-20-66346060Fax: +1(855)550-5975help@alliedmarketresearch.comWeb: www.alliedmarketresearch.comAllied Market Research Blog: https://blog.alliedmarketresearch.comFollow Us on | Facebook | LinkedIn | YouTube |
Logo: https://mma.prnewswire.com/media/636519/3950895/Allied_Market_Research_Logo.jpg 
 
View original content:https://www.prnewswire.co.uk/news-releases/global-video-analytics-in-banking-market-to-reach-12-1-billion-by-2032-at-24-7-cagr-allied-market-research-301892770.html