Blockchain Press Releases
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.
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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.
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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 Technologies
The 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
- Software
- Service
By Deployment Mode
- On-premise
- Cloud
By Application
- Others
- Security and Fraud Detection
- Customer Behavior Analysis
- Queue Management
- ATM Monitoring
By 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
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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.
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Blockchain Press Releases
Bitrue expands Bitcoin Runes Offerings with GPTV Listing and Staking Options
VICTORIA, Seychelles, May 3, 2024 /PRNewswire/ — Leading digital asset exchange Bitrue continues its community-driven approach with the listing of a new Bitcoin Runes token, GPTV•AI•PEPE•KING (GPTV). This follows the recent addition of several other Bitcoin Runes tokens to the platform, including SATOSHI•NAKAMOTO (SATOSHI), LOBO•THE•WOLF•PUP (LOBO), RSIC•GENESIS•RUNE (RSIC), and DOG•GO•TO•THE•MOON (DOG). Trading for the GPTV/USDT pair commenced on April 30th, 2024.
What is GPTV?
GPTV is the native token of AI PEPE KING, a project claiming to be the “largest AI Meme Community” with a presence on both the Polygon (AIPEPE) and Bitcoin Runes (GPTV) blockchains. Notably, AI PEPE KING secured a $10 million investment to develop AI-powered customer service tools leveraging the ChatGPT technology. Additionally, they are building a “Dream Lottery” system. Revenue generated from these products is earmarked for buybacks and burns of both AIPEPE and GPTV tokens, potentially influencing their long-term value.
Staking Opportunities with Attractive Yields
Bitrue is also offering users staking opportunities for those holding BTR, AIPEPE, RSIC, or DOG tokens. By staking their holdings, users can earn rewards in GPTV, with estimated annual percentage yield (APY) varying on the staked token, with BTR offering 22.15%, AIPEPE at 23.18%, RSIC boasting a higher 31.37%, and DOG coming in at 23.62%. These yields present a potentially lucrative opportunity for users to grow their cryptocurrency holdings, but also come with financial risk and the potential for investment to return much lower yields.
Bitrue’s Focus on Community Engagement
The listing of these Bitcoin Runes tokens is a testament to Bitrue’s commitment to its user base. The decision to add these tokens stemmed from a community poll conducted through an X poll on Bitrue’s X account. This highlights the exchange’s dedication to incorporating community feedback into its decision-making process, fostering a sense of collaboration and shared interest.
With the addition of GPTV and the introduction of staking opportunities, Bitrue continues to expand its offerings for users interested in the burgeoning world of Bitcoin Runes tokens. The exchange’s focus on community engagement further strengthens its position as a platform that prioritizes user input and satisfaction.
About Bitrue
Launched in July 2018, Bitrue is a diversified digital asset exchange that supports trading, loans and investments. Bitrue aims to utilize blockchain technology to bring financial opportunities to everybody regardless of their location or financial position. With offices in Asia and Europe, the business continues to develop new features at a rapid speed to fully service the new wave of the digital economy. More information is available at Bitrue’s website.
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ZettaBlock, a leading provider of blockchain solutions, has recently announced a significant enhancement to its offerings with the addition of blockchain data services. This development marks a strategic move aimed at bolstering ZettaBlock’s capabilities and further solidifying its position in the blockchain industry.
By integrating blockchain data services into its portfolio, ZettaBlock seeks to address the growing demand for comprehensive and reliable data solutions within the blockchain ecosystem. The new offering will enable clients to access a wealth of blockchain data, empowering them to make informed decisions and derive valuable insights from the vast amount of information available on various blockchain networks.
ZettaBlock’s decision to expand its services comes at a time when the importance of blockchain data analytics is increasingly recognized across industries. With blockchain technology continuing to gain traction and adoption worldwide, the ability to effectively harness and analyze blockchain data has become crucial for businesses and organizations seeking to unlock new opportunities and drive innovation.
Through its blockchain data services, ZettaBlock aims to cater to the diverse needs of its clients, providing them with access to real-time and historical data from a wide range of blockchain networks. This includes transaction data, smart contract metrics, network activity, and more, allowing users to gain deeper insights into blockchain transactions and activities.
The addition of blockchain data services represents a significant milestone for ZettaBlock, underscoring the company’s commitment to delivering cutting-edge solutions that meet the evolving needs of the blockchain industry. As businesses increasingly recognize the value of blockchain data in driving decision-making and enhancing operations, ZettaBlock’s comprehensive data services are poised to play a key role in shaping the future of blockchain analytics.
Source: cryptonewsz.com
The post ZettaBlock announces the addition of blockchain data appeared first on HIPTHER Alerts.
Hong Kong has entered the cryptocurrency ETF market with the debut of its first spot cryptocurrency exchange-traded funds (ETFs) on Tuesday, signaling the city’s ambition to compete with the US in the rapidly growing sector.
The launch, led by the Hong Kong units of three mainland Chinese asset managers — Bosera Asset Management, Harvest Global Investments, and China Asset Management — saw the introduction of two ETFs each tracking bitcoin and ether prices. Bosera’s funds were launched in collaboration with HashKey Capital.
On their debut, the three bitcoin ETFs closed between 1.5% and 1.8% higher, while the ether ETFs experienced slight losses of between 0.5% and 0.8%. Despite this, total trading turnover for all six ETFs, which included trading in US dollars, Hong Kong dollars, and renminbi, reached approximately HK$99.5 million (US$12.7 million). In comparison, US-based funds saw turnover exceeding $4 billion on their first trading day.
The move marks Hong Kong’s commitment to becoming a significant player in the cryptocurrency space, following its announcement in 2022 amid pandemic restrictions and increased Chinese oversight. Joseph Chan, Hong Kong’s under-secretary for financial services and the treasury, emphasized the city’s leading position in Asia’s crypto asset development during the ETF listing ceremony.
Prior to this, CSOP Asset Management had launched Hong Kong’s first bitcoin and ether futures ETFs in late 2022, following the publication of rules for spot ETFs by the Securities and Futures Commission in December.
In January, the US Securities and Exchange Commission approved the country’s first spot bitcoin ETFs, which have since attracted significant assets under management and net inflows. Robert Zhan, director of risk consulting at KPMG China, remains optimistic about the potential of the Hong Kong funds, despite current market sentiments and relatively flat prices of bitcoin and ether leading up to the launch.
The launch of crypto-linked funds by major Chinese asset managers has generated excitement within the industry, despite China’s strict cryptocurrency regulations. Donald Day, COO of Hong Kong-based digital asset exchange VDX, believes the new funds will cater to active investors unable or unwilling to trade during US hours.
Source: ft.com
The post Hong Kong joins global crypto ETF race appeared first on HIPTHER Alerts.
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