GITNUX MARKETDATA REPORT 2024

Retail Video Analytics Industry Statistics

The retail video analytics industry is expected to grow rapidly, with projected revenue of $9.64 billion by 2025.

With sources from: mordorintelligence.com, axis.com, grandviewresearch.com, chainstoreage.com and many more

Statistic 1

The global retail analytics market size was valued at $3.14 billion in 2018.

Statistic 2

Market research firm Mordor Intelligence estimates the retail video analytics market will reach a CAGR of 21.4% during the forecast period 2021–2026.

Statistic 3

North America is estimated to hold the largest share of the retail video analytics market in 2021.

Statistic 4

Loss prevention remains the most popular use of video analytics in retail, with over 50% of retailers currently implementing this technique.

Statistic 5

Retailers saved an estimated $4 billion in 2017 using video analytics for loss prevention.

Statistic 6

The Asia-Pacific region is expected to grow at the highest CAGR in retail video analytics from 2021 to 2026.

Statistic 7

Approximately 41% of retailers have implemented some form of video analytics.

Statistic 8

A survey revealed Retail Video Analytics Technology will see a significant growth of 21% in 2022.

Statistic 9

Video analytics solutions for retail were one of the top three security product trends in 2019.

Statistic 10

The global video analytics market, including retail analytics, is expected to reach $11.17 billion by 2025.

Statistic 11

More than 60% of retailers are boosting technology budgets in 2021, with a significant portion expected to be allocated toward video analytics.

Statistic 12

Video analytics in retail is expected to contribute to a 3.7% increase in sales over the next five years.

Statistic 13

By 2023, more than 50% of major retailers around the globe will adopt AI and video analytics in order to cut costs and improve sales.

Statistic 14

The adoption of video analytics in retail can boost customer satisfaction by 19% and increase revenue by 14.6%.

Statistic 15

45% use of AI and video analytics is for improving customer experience.

Statistic 16

68% of retailers believe integrating video analytics can help create a better shopper experience.

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In this post, we explore the latest statistics and trends shaping the retail video analytics industry. From market size and growth projections to the impact on sales and customer experience, these data points shed light on the increasing adoption and significance of video analytics in the retail sector.

Statistic 1

"The global retail analytics market size was valued at $3.14 billion in 2018."

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Statistic 2

"Market research firm Mordor Intelligence estimates the retail video analytics market will reach a CAGR of 21.4% during the forecast period 2021–2026."

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Statistic 3

"North America is estimated to hold the largest share of the retail video analytics market in 2021."

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Statistic 4

"Loss prevention remains the most popular use of video analytics in retail, with over 50% of retailers currently implementing this technique."

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Statistic 5

"Retailers saved an estimated $4 billion in 2017 using video analytics for loss prevention."

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Statistic 6

"The Asia-Pacific region is expected to grow at the highest CAGR in retail video analytics from 2021 to 2026."

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Statistic 7

"Approximately 41% of retailers have implemented some form of video analytics."

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Statistic 8

"A survey revealed Retail Video Analytics Technology will see a significant growth of 21% in 2022."

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Statistic 9

"Video analytics solutions for retail were one of the top three security product trends in 2019."

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Statistic 10

"The global video analytics market, including retail analytics, is expected to reach $11.17 billion by 2025."

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Statistic 11

"More than 60% of retailers are boosting technology budgets in 2021, with a significant portion expected to be allocated toward video analytics."

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Statistic 12

"Video analytics in retail is expected to contribute to a 3.7% increase in sales over the next five years."

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Statistic 13

"By 2023, more than 50% of major retailers around the globe will adopt AI and video analytics in order to cut costs and improve sales."

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Statistic 14

"The adoption of video analytics in retail can boost customer satisfaction by 19% and increase revenue by 14.6%."

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Statistic 15

"45% use of AI and video analytics is for improving customer experience."

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Statistic 16

"68% of retailers believe integrating video analytics can help create a better shopper experience."

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Interpretation

In conclusion, the retail video analytics industry is experiencing significant growth and innovation, driven by the increasing adoption of video analytics solutions for various purposes such as loss prevention, customer experience enhancement, and sales optimization. Market trends indicate a substantial rise in market size and adoption rates, particularly in regions like North America and Asia-Pacific. The integration of AI and video analytics is poised to revolutionize the retail sector, leading to substantial cost savings, sales increases, and improved customer satisfaction. As retailers continue to invest in technology, the future of retail video analytics looks promising and is set to play a crucial role in shaping the retail landscape in the coming years.

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