Global Video Analytics in Banking Market was Worth US$ 1.46 Billion in 2022, Growing at an Estimated CAGR of 23.6% From 2023-2031.

Video analytics in banking refers to the use of AI-powered technology to analyze surveillance footage within bank premises. It detects suspicious activities, monitors queues, and enhances customer service. By automating security measures and optimizing operations, video analytics enhances overall safety, efficiency, and customer experience in banking environments.

On-premise deployment dominates the video analytics in banking market due to security concerns and data control. Professionals prefer on-premise solutions for sensitive data handling and compliance reasons.

Global Video Analytics in Banking Market Revenue & Forecast, (US$ Million), 2015 – 2031

COVID-19 Impact Analysis on Global Video Analytics in Banking Market

Pre-COVID-19, the video analytics in banking market experienced steady growth driven by security and operational optimization through AI-driven analytics. Post-COVID-19, pandemic-induced digital transformation emphasized remote monitoring and safety compliance, fostering innovation in contactless solutions and reshaping the role of video analytics in the banking sector.

A key driver is the imperative to enhance security in banking. Banks consider video analytics crucial for fraud detection and threat prevention, offering real-time alerts for unusual activities to safeguard assets and customer data, aligning with the industry’s commitment to maintaining trust. Data privacy concerns are a significant restraint in the video analytics in banking market. A majority of banking professionals are wary of video analytics impacting customer privacy. Balancing surveillance benefits and data protection poses challenges, necessitating robust privacy measures and regulatory compliance to mitigate apprehensions.

Security and fraud detection have been a primary focus of video analytics in the banking sector. Video analytics systems can monitor live feeds from surveillance cameras and analyze them in real-time to detect unusual activities or behaviors, such as unauthorized access to restricted areas, suspicious movements, or tampering with ATMs. These analytics help banks enhance security measures and reduce the risk of fraud.

North America dominated the global video analytics in banking market in 2022. This can be attributed to the region’s advanced technological infrastructure, mature banking industry, and focus on security and fraud prevention. For example, reports from organizations like the American Bankers Association have highlighted the significant investments made by North American banks in security technologies, including video analytics, to safeguard customer data and prevent fraudulent activities.

Competitive Landscape

The video analytics in banking market involves the use of AI, machine learning, computer vision, and data analytics to extract valuable insights from video data captured within banking facilities. This technology is applied to various aspects of banking operations, including security monitoring, fraud detection, customer behavior analysis, compliance management, and operational optimization. The video analytics in banking market features a mix of established technology vendors, specialized solution providers, and emerging startups. A few of the key players operating in the global video analytics in banking market are

• AllGoVision Technologies Pvt. Ltd
• Avigilon (Motorola Solutions, Inc.)
• Axis Communications AB
• Bosch Sicherheitssysteme GmbH
• Eagle Eye Networks
• Grekkom
• IBM Corporation
• Senstar Corporation
• Wipro
• Zhejiang Dahua Technology Co., Ltd.
• Other Industry Participants

Report Summary of Global Video Analytics in Banking Market

Global Video Analytics in Banking Market

By Component

• Software
• Service

By Deployment Mode

• On-premise
• Cloud

By Application

• Security and Fraud Detection
• Customer Behavior Analysis
• Queue Management
• ATM Monitoring
• Others

By Region

• North America (U.S., Canada, Mexico, Rest of North America)
• Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
• Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
• Latin America (Brazil, Argentina, Rest of Latin America)

Global Video Analytics in Banking Market Report Coverage and Deliverables

Table of Contents

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**Exclusive for Multi-User and Enterprise User.

Global Video Analytics in Banking Market Segmentation

By Component

By Deployment Mode

By Application

By Region

**Note: The report covers cross-segmentation analysis by region further into countries

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The Niche Research approach encompasses both primary and secondary research methods to provide comprehensive insights. While primary research is the cornerstone of our studies, we also incorporate secondary research sources such as company annual reports, premium industry databases, press releases, industry journals, and white papers.

Within our primary research, we actively engage with various industry stakeholders, conducting paid interviews and surveys. Our meticulous analysis extends to every market participant in major countries, allowing us to thoroughly examine their portfolios, calculate market shares, and segment revenues.

Our data collection primarily focuses on individual countries within our research scope, enabling us to estimate regional market sizes. Typically, we employ a bottom-up approach, meticulously tracking trends in different countries. We analyze growth drivers, constraints, technological innovations, and opportunities for each country, ultimately arriving at regional figures.Our process begins by examining the growth prospects of each country. Building upon these insights, we project growth and trends for the entire region. Finally, we utilize our proprietary model to refine estimations and forecasts.

Our data validation standards are integral to ensuring the reliability and accuracy of our research findings. Here’s a breakdown of our data validation processes and the stakeholders we engage with during our primary research:

• Supply Side Analysis: We initiate a supply side analysis by directly contacting market participants, through telephonic interviews and questionnaires containing both open-ended and close-ended questions. We gather information on their portfolios, segment revenues, developments, and growth strategies.
• Demand Side Analysis: To gain insights into adoption trends and consumer preferences, we reach out to target customers and users (non-vendors). This information forms a vital part of the qualitative analysis section of our reports, covering market dynamics, adoption trends, consumer behavior, spending patterns, and other related aspects.
• Consultant Insights: We tap into the expertise of our partner consultants from around the world to obtain their unique viewpoints and perspectives. Their insights contribute to a well-rounded understanding of the markets under investigation.
• In-House Validation: To ensure data accuracy and reliability, we conduct cross-validation of data points and information through our in-house team of consultants and utilize advanced data modeling tools for thorough verification.

The forecasts we provide are based on a comprehensive assessment of various factors, including:

• Market Trends and Past Performance (Last Five Years): We accurately analyze market trends and performance data from preceding five years to identify historical patterns and understand the market’s evolution.
• Historical Performance and Growth of Market Participants: We assess the historical performance and growth trajectories of key market participants. This analysis provides insights into the competitive landscape and individual company strategies.
• Market Determinants Impact Analysis (Next Eight Years): We conduct a rigorous analysis of the factors that are projected to influence the market over the next eight years. This includes assessing both internal and external determinants that can shape market dynamics.
• Drivers and Challenges for the Forecast Period:Identify the factors expected to drive market growth during the forecast period, as well as the challenges that the industry may face. This analysis aids in deriving an accurate growth rate projection.
• New Acquisitions, Collaborations, or Partnerships: We keep a close watch on any new acquisitions, collaborations, or partnerships within the industry. These developments can have a significant impact on market dynamics and competitiveness.
• Macro and Micro Factors Analysis:A thorough examination of both macro-level factors (e.g., economic trends, regulatory changes) and micro-level factors (e.g., technological advancements, consumer preferences) that may influence the market during the forecast period.
• End-User Sentiment Analysis: To understand the market from the end-user perspective, we conduct sentiment analysis. This involves assessing the sentiment, preferences, and feedback of the end-users, which can provide valuable insights into market trends.
• Perspective of Primary Participants: Insights gathered directly from primary research participants play a crucial role in shaping our forecasts. Their perspectives and experiences provide valuable qualitative data.
• Year-on-Year Growth Trend: We utilize a year-on-year growth trend based on historical market growth and expected future trends. This helps in formulating our growth projections, aligning them with the market’s historical performance.

Research process adopted by TNR involves multiple stages, including data collection, validation, quality checks, and presentation. It’s crucial that the data and information we provide add value to your existing market understanding and expertise. We have also established partnerships with business consulting, research, and survey organizations across regions and globally to collaborate on regional analysis and data validation, ensuring the highest level of accuracy and reliability in our reports.