The Global Video Analytics in Banking Market size is expected to reach $7.5 billion by 2030, rising at a market growth of 24.9% CAGR during the forecast period.
The rapid expansion of e-commerce, online transactions, and digital services has led to a rapid expansion of the digital economy across the Asia Pacific region. Thus, the Asia Pacific region generated $374.9 million revenue in the market in 2022. This expansion has increased the need for video analytics to find and address potential fraud, security holes, and other irregularities in these digital transactions. Growing banking services, fintech developments, and increased digital payments contribute to the regional banking services sector's rapid growth. For anti-money laundering (AML) initiatives, fraud prevention, and regulatory compliance in this industry, these solutions are essential. Some of the factors impacting the market are increased use of cameras with high resolution, growing innovation within the financial sector, and governmental guidelines for CCTV surveillance.
Organizations can do precise and complex video analyses because of the rising deployment of high-resolution cameras like 4k or 8k. High-resolution movies also make it easier to recognize and analyze crowd members, set off alarms when specific criteria are fulfilled, filter and search videos, and, more precisely, derive insights from video metadata. Furthermore, more camera pixels offer better digital zoom capabilities to improve long-distance vision. Therefore, such developments are causing the banking industry to adopt video analytics, thereby propelling the growth of the market. Additionally, BFSI firms are boosting their investments in artificial intelligence (AI) and machine learning solutions to revolutionize the management of financial institutions so that they can offer improved services to end users and automate the required solutions. In addition, as the BFSI sector became more complicated and competitive, the need for industry-specific solutions grew to assist businesses in achieving their objectives. Major financial institutions like Bank of America, JPMorgan, and Morgan Stanley are making significant investments in data mining, HD security cameras, statistics, machine learning (ML), and AI technologies for the development of video analytics solutions to detect red flags like money laundering methods and for other fraud cases. This is expected to provide a lucrative opportunity for the growth of the market.
However, despite the advantages provided by video analytics, there are numerous privacy issues that people have frequently brought up. Because of this, developed countries like the UK and the US are requiring the application of video analytics in banking, but only in specific locations and with limited capacity. For instance, in October of 2021, the European Parliament adopted a resolution that establishes limitations on the creation of individual face recognition databases as well as the application of facial recognition technology by law enforcement officers in public areas. As a result, it is projected that stringent regulations will limit the market expansion.
Component Outlook
Based on component, the market is characterized into software and service. The software segment garnered the highest revenue share in the market in 2022. Software that watches and analyzes video is known as video analytics software. Using automated algorithms, video analytics software can recognize, detect, and examine videos' actions, behavior, and content. The efficient operation of surveillance software can be greatly increased by video analytics. The closed-circuit television (CCTV) security cameras, a network video recorder (NVR), or a third-party plugin or built-in video management software (VMS) can all come pre-installed with video analytics software (CCTV software). Users may select the ideal hardware for the security surveillance infrastructure using an open VMS platform.
Deployment Mode Outlook
On the basis of deployment mode, the market is classified into on-premise and cloud. The on-premise segment acquired the largest revenue share in the market in 2022. An on-premise approach has several benefits for businesses that want more control over IT choices, setups, and modifications related to their video content analytics installations. An organization has more control over configurations and updates when it owns its hardware and software; for example, no modifications to the system may be performed without the end user organization considering the pros and cons and making judgments. In these cases, the end-user has complete authority over system expansion, updates, and management rather than the vendor.
Application Outlook
By application, the market is divided into security & fraud detection, customer behavior analysis, queue management, ATM monitoring, and others. The ATM monitoring segment garnered a remarkable growth rate in the market in 2022. ATMs are becoming increasingly important in how clients conduct business as many banks close their physical locations to save money. ATMs are still seen as a necessary service despite the global transition to mobile and internet banking and projections of an eventually cashless future. Managers and IT teams can examine network availability issues, security breaches, and unsuccessful customer contacts more thoroughly with the help of real-time ATM monitoring and transaction data.
Regional Outlook
Region wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. The North America segment procured the highest revenue share in the market in 2022. The presence of many of the most prosperous financial software companies has aided the regional market's growth. These businesses include Citigroup, JPMorgan Chase, and Bank of America. Innovative banking security products like video analytics that can aid in process optimization and increase competitiveness are greatly needed by these firms. The sizeable and well-established information technology sector in North America has also aided in the development of such solutions.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Senstar Technologies Ltd., Zhejiang Dahua Technology Co., Ltd, Axis Communications AB (Canon, Inc.), AllGoVision Technologies Pvt. Ltd, IBM Corporation, Wipro Limited, Bosch Security Systems GmbH (Robert Bosch GmbH), Grekkom Technologies, Avigilon Corporation (Motorola Solutions), and Eagle Eye Networks, Inc.
Scope of the Study
Market Segments covered in the Report:
By Component
By Application
- Security & Fraud Detection
- ATM Monitoring
- Customer Behavior Analysis
- Queue Management
- Others
By Deployment Mode
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Companies Profiled
- Senstar Technologies Ltd.
- Zhejiang Dahua Technology Co., Ltd
- Axis Communications AB (Canon, Inc.)
- AllGoVision Technologies Pvt. Ltd
- IBM Corporation
- Wipro Limited
- Bosch Security Systems GmbH (Robert Bosch GmbH)
- Grekkom Technologies
- Avigilon Corporation (Motorola Solutions)
- Eagle Eye Networks, Inc.
Unique Offerings from KBV Research
- Exhaustive coverage
- Highest number of market tables and figures
- Subscription based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 Global Video Analytics in Banking Market, by Component
- 1.4.2 Global Video Analytics in Banking Market, by Application
- 1.4.3 Global Video Analytics in Banking Market, by Deployment Mode
- 1.4.4 Global Video Analytics in Banking Market, by Geography
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
Chapter 4. Competition Analysis - Global
- 4.1 Market Share Analysis, 2022
- 4.2 Porter's Five Forces Analysis
Chapter 5. Global Video Analytics in Banking Market by Component
- 5.1 Global Software Market by Region
- 5.2 Global Services Market by Region
Chapter 6. Global Video Analytics in Banking Market by Application
- 6.1 Global Security & Fraud Detection Market by Region
- 6.2 Global ATM Monitoring Market by Region
- 6.3 Global Customer Behavior Analysis Market by Region
- 6.4 Global Queue Management Market by Region
- 6.5 Global Others Market by Region
Chapter 7. Global Video Analytics in Banking Market by Deployment Mode
- 7.1 Global On-premise Market by Region
- 7.2 Global Cloud Market by Region
Chapter 8. Global Video Analytics in Banking Market by Region
- 8.1 North America Video Analytics in Banking Market
- 8.1.1 North America Video Analytics in Banking Market by Component
- 8.1.1.1 North America Software Market by Country
- 8.1.1.2 North America Services Market by Country
- 8.1.2 North America Video Analytics in Banking Market by Application
- 8.1.2.1 North America Security & Fraud Detection Market by Country
- 8.1.2.2 North America ATM Monitoring Market by Country
- 8.1.2.3 North America Customer Behavior Analysis Market by Country
- 8.1.2.4 North America Queue Management Market by Country
- 8.1.2.5 North America Others Market by Country
- 8.1.3 North America Video Analytics in Banking Market by Deployment Mode
- 8.1.3.1 North America On-premise Market by Country
- 8.1.3.2 North America Cloud Market by Country
- 8.1.4 North America Video Analytics in Banking Market by Country
- 8.1.4.1 US Video Analytics in Banking Market
- 8.1.4.1.1 US Video Analytics in Banking Market by Component
- 8.1.4.1.2 US Video Analytics in Banking Market by Application
- 8.1.4.1.3 US Video Analytics in Banking Market by Deployment Mode
- 8.1.4.2 Canada Video Analytics in Banking Market
- 8.1.4.2.1 Canada Video Analytics in Banking Market by Component
- 8.1.4.2.2 Canada Video Analytics in Banking Market by Application
- 8.1.4.2.3 Canada Video Analytics in Banking Market by Deployment Mode
- 8.1.4.3 Mexico Video Analytics in Banking Market
- 8.1.4.3.1 Mexico Video Analytics in Banking Market by Component
- 8.1.4.3.2 Mexico Video Analytics in Banking Market by Application
- 8.1.4.3.3 Mexico Video Analytics in Banking Market by Deployment Mode
- 8.1.4.4 Rest of North America Video Analytics in Banking Market
- 8.1.4.4.1 Rest of North America Video Analytics in Banking Market by Component
- 8.1.4.4.2 Rest of North America Video Analytics in Banking Market by Application
- 8.1.4.4.3 Rest of North America Video Analytics in Banking Market by Deployment Mode
- 8.2 Europe Video Analytics in Banking Market
- 8.2.1 Europe Video Analytics in Banking Market by Component
- 8.2.1.1 Europe Software Market by Country
- 8.2.1.2 Europe Services Market by Country
- 8.2.2 Europe Video Analytics in Banking Market by Application
- 8.2.2.1 Europe Security & Fraud Detection Market by Country
- 8.2.2.2 Europe ATM Monitoring Market by Country
- 8.2.2.3 Europe Customer Behavior Analysis Market by Country
- 8.2.2.4 Europe Queue Management Market by Country
- 8.2.2.5 Europe Others Market by Country
- 8.2.3 Europe Video Analytics in Banking Market by Deployment Mode
- 8.2.3.1 Europe On-premise Market by Country
- 8.2.3.2 Europe Cloud Market by Country
- 8.2.4 Europe Video Analytics in Banking Market by Country
- 8.2.4.1 Germany Video Analytics in Banking Market
- 8.2.4.1.1 Germany Video Analytics in Banking Market by Component
- 8.2.4.1.2 Germany Video Analytics in Banking Market by Application
- 8.2.4.1.3 Germany Video Analytics in Banking Market by Deployment Mode
- 8.2.4.2 UK Video Analytics in Banking Market
- 8.2.4.2.1 UK Video Analytics in Banking Market by Component
- 8.2.4.2.2 UK Video Analytics in Banking Market by Application
- 8.2.4.2.3 UK Video Analytics in Banking Market by Deployment Mode
- 8.2.4.3 France Video Analytics in Banking Market
- 8.2.4.3.1 France Video Analytics in Banking Market by Component
- 8.2.4.3.2 France Video Analytics in Banking Market by Application
- 8.2.4.3.3 France Video Analytics in Banking Market by Deployment Mode
- 8.2.4.4 Russia Video Analytics in Banking Market
- 8.2.4.4.1 Russia Video Analytics in Banking Market by Component
- 8.2.4.4.2 Russia Video Analytics in Banking Market by Application
- 8.2.4.4.3 Russia Video Analytics in Banking Market by Deployment Mode
- 8.2.4.5 Spain Video Analytics in Banking Market
- 8.2.4.5.1 Spain Video Analytics in Banking Market by Component
- 8.2.4.5.2 Spain Video Analytics in Banking Market by Application
- 8.2.4.5.3 Spain Video Analytics in Banking Market by Deployment Mode
- 8.2.4.6 Italy Video Analytics in Banking Market
- 8.2.4.6.1 Italy Video Analytics in Banking Market by Component
- 8.2.4.6.2 Italy Video Analytics in Banking Market by Application
- 8.2.4.6.3 Italy Video Analytics in Banking Market by Deployment Mode
- 8.2.4.7 Rest of Europe Video Analytics in Banking Market
- 8.2.4.7.1 Rest of Europe Video Analytics in Banking Market by Component
- 8.2.4.7.2 Rest of Europe Video Analytics in Banking Market by Application
- 8.2.4.7.3 Rest of Europe Video Analytics in Banking Market by Deployment Mode
- 8.3 Asia Pacific Video Analytics in Banking Market
- 8.3.1 Asia Pacific Video Analytics in Banking Market by Component
- 8.3.1.1 Asia Pacific Software Market by Country
- 8.3.1.2 Asia Pacific Services Market by Country
- 8.3.2 Asia Pacific Video Analytics in Banking Market by Application
- 8.3.2.1 Asia Pacific Security & Fraud Detection Market by Country
- 8.3.2.2 Asia Pacific ATM Monitoring Market by Country
- 8.3.2.3 Asia Pacific Customer Behavior Analysis Market by Country
- 8.3.2.4 Asia Pacific Queue Management Market by Country
- 8.3.2.5 Asia Pacific Others Market by Country
- 8.3.3 Asia Pacific Video Analytics in Banking Market by Deployment Mode
- 8.3.3.1 Asia Pacific On-premise Market by Country
- 8.3.3.2 Asia Pacific Cloud Market by Country
- 8.3.4 Asia Pacific Video Analytics in Banking Market by Country
- 8.3.4.1 China Video Analytics in Banking Market
- 8.3.4.1.1 China Video Analytics in Banking Market by Component
- 8.3.4.1.2 China Video Analytics in Banking Market by Application
- 8.3.4.1.3 China Video Analytics in Banking Market by Deployment Mode
- 8.3.4.2 Japan Video Analytics in Banking Market
- 8.3.4.2.1 Japan Video Analytics in Banking Market by Component
- 8.3.4.2.2 Japan Video Analytics in Banking Market by Application
- 8.3.4.2.3 Japan Video Analytics in Banking Market by Deployment Mode
- 8.3.4.3 India Video Analytics in Banking Market
- 8.3.4.3.1 India Video Analytics in Banking Market by Component
- 8.3.4.3.2 India Video Analytics in Banking Market by Application
- 8.3.4.3.3 India Video Analytics in Banking Market by Deployment Mode
- 8.3.4.4 South Korea Video Analytics in Banking Market
- 8.3.4.4.1 South Korea Video Analytics in Banking Market by Component
- 8.3.4.4.2 South Korea Video Analytics in Banking Market by Application
- 8.3.4.4.3 South Korea Video Analytics in Banking Market by Deployment Mode
- 8.3.4.5 Singapore Video Analytics in Banking Market
- 8.3.4.5.1 Singapore Video Analytics in Banking Market by Component
- 8.3.4.5.2 Singapore Video Analytics in Banking Market by Application
- 8.3.4.5.3 Singapore Video Analytics in Banking Market by Deployment Mode
- 8.3.4.6 Malaysia Video Analytics in Banking Market
- 8.3.4.6.1 Malaysia Video Analytics in Banking Market by Component
- 8.3.4.6.2 Malaysia Video Analytics in Banking Market by Application
- 8.3.4.6.3 Malaysia Video Analytics in Banking Market by Deployment Mode
- 8.3.4.7 Rest of Asia Pacific Video Analytics in Banking Market
- 8.3.4.7.1 Rest of Asia Pacific Video Analytics in Banking Market by Component
- 8.3.4.7.2 Rest of Asia Pacific Video Analytics in Banking Market by Application
- 8.3.4.7.3 Rest of Asia Pacific Video Analytics in Banking Market by Deployment Mode
- 8.4 LAMEA Video Analytics in Banking Market
- 8.4.1 LAMEA Video Analytics in Banking Market by Component
- 8.4.1.1 LAMEA Software Market by Country
- 8.4.1.2 LAMEA Services Market by Country
- 8.4.2 LAMEA Video Analytics in Banking Market by Application
- 8.4.2.1 LAMEA Security & Fraud Detection Market by Country
- 8.4.2.2 LAMEA ATM Monitoring Market by Country
- 8.4.2.3 LAMEA Customer Behavior Analysis Market by Country
- 8.4.2.4 LAMEA Queue Management Market by Country
- 8.4.2.5 LAMEA Others Market by Country
- 8.4.3 LAMEA Video Analytics in Banking Market by Deployment Mode
- 8.4.3.1 LAMEA On-premise Market by Country
- 8.4.3.2 LAMEA Cloud Market by Country
- 8.4.4 LAMEA Video Analytics in Banking Market by Country
- 8.4.4.1 Brazil Video Analytics in Banking Market
- 8.4.4.1.1 Brazil Video Analytics in Banking Market by Component
- 8.4.4.1.2 Brazil Video Analytics in Banking Market by Application
- 8.4.4.1.3 Brazil Video Analytics in Banking Market by Deployment Mode
- 8.4.4.2 Argentina Video Analytics in Banking Market
- 8.4.4.2.1 Argentina Video Analytics in Banking Market by Component
- 8.4.4.2.2 Argentina Video Analytics in Banking Market by Application
- 8.4.4.2.3 Argentina Video Analytics in Banking Market by Deployment Mode
- 8.4.4.3 UAE Video Analytics in Banking Market
- 8.4.4.3.1 UAE Video Analytics in Banking Market by Component
- 8.4.4.3.2 UAE Video Analytics in Banking Market by Application
- 8.4.4.3.3 UAE Video Analytics in Banking Market by Deployment Mode
- 8.4.4.4 Saudi Arabia Video Analytics in Banking Market
- 8.4.4.4.1 Saudi Arabia Video Analytics in Banking Market by Component
- 8.4.4.4.2 Saudi Arabia Video Analytics in Banking Market by Application
- 8.4.4.4.3 Saudi Arabia Video Analytics in Banking Market by Deployment Mode
- 8.4.4.5 South Africa Video Analytics in Banking Market
- 8.4.4.5.1 South Africa Video Analytics in Banking Market by Component
- 8.4.4.5.2 South Africa Video Analytics in Banking Market by Application
- 8.4.4.5.3 South Africa Video Analytics in Banking Market by Deployment Mode
- 8.4.4.6 Nigeria Video Analytics in Banking Market
- 8.4.4.6.1 Nigeria Video Analytics in Banking Market by Component
- 8.4.4.6.2 Nigeria Video Analytics in Banking Market by Application
- 8.4.4.6.3 Nigeria Video Analytics in Banking Market by Deployment Mode
- 8.4.4.7 Rest of LAMEA Video Analytics in Banking Market
- 8.4.4.7.1 Rest of LAMEA Video Analytics in Banking Market by Component
- 8.4.4.7.2 Rest of LAMEA Video Analytics in Banking Market by Application
- 8.4.4.7.3 Rest of LAMEA Video Analytics in Banking Market by Deployment Mode
Chapter 9. Company Profiles
- 9.1 Senstar Technologies Ltd.
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Regional Analysis
- 9.1.4 Research & Development Expenses
- 9.1.5 SWOT Analysis
- 9.2 Zhejiang Dahua Technology Co., Ltd.
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Regional Analysis
- 9.2.4 Product Development Expenses
- 9.2.5 SWOT Analysis
- 9.3 Axis Communications AB (Canon, Inc.)
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental and Regional Analysis
- 9.3.4 Research & Development Expenses
- 9.3.5 SWOT Analysis
- 9.4 AllGoVision Technologies Pvt. Ltd
- 9.4.1 Company Overview
- 9.4.2 Recent strategies and developments:
- 9.4.2.1 Product Launches and Product Expansions:
- 9.4.3 SWOT Analysis
- 9.5 IBM Corporation
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Segmental and Regional Analysis
- 9.5.4 Research & Development Expenses
- 9.5.5 SWOT Analysis
- 9.6 Wipro Limited
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Research & Development Expenses
- 9.6.5 SWOT Analysis
- 9.7 Bosch Security Systems GmbH (Robert Bosch GmbH)
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Segmental and Regional Analysis
- 9.7.4 Research & Development Expense
- 9.7.5 Recent strategies and developments:
- 9.7.5.1 Product Launches and Product Expansions:
- 9.7.6 SWOT Analysis
- 9.8 Grekkom Technologies
- 9.8.1 Company Overview
- 9.8.2 SWOT Analysis
- 9.9 Avigilon Corporation (Motorola Solutions, Inc.)
- 9.9.1 Company Overview
- 9.9.2 Financial Analysis
- 9.9.3 Regional & Segmental Analysis
- 9.9.4 Research & Development Expenses
- 9.9.5 Recent strategies and developments:
- 9.9.5.1 Product Launches and Product Expansions:
- 9.9.6 SWOT Analysis
- 9.10. Eagle Eye Networks, Inc.
- 9.10.1 Company Overview
- 9.10.2 Recent strategies and developments:
- 9.10.2.1 Acquisition and Mergers:
- 9.10.3 SWOT Analysis
Chapter 10. Winning Imperative for Video Analytics in Banking Market