The Video Analytics Market is set to experience revolutionary growth in near future
Video analytics is the process of collecting and extracting information, trends, and insights from video data captured during video surveillance on a real-time basis or of an already captured video. This process offers real-time effective video management and business intelligence applications such as behavior analysis, and provides alerts on the occurrence of strange or abnormal activities. Several industries, such as public sector, manufacturing, retail, and others, have adopted video analytics solution to optimize their business operations through cost-effective and real-time analytics.
Increase in demand for IP-based security systems, growth in concern over public safety & security, and increase in volume of unstructured video data drive the global video analytics market. However, high initial investment cost on systems & infrastructure and rise in number of false alarms & alerts are expected to hinder this video analytics market growth. Need of edge-based analytics and recognizing & profiling applications are expected to provide numerous opportunities for the video analytics market growth in the future.
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The global video analytics market is segmented on the basis of component, application, deployment model, industry vertical, and geography. On the basis of component, it is bifurcated into software and services. Based on application, it is classified into facial recognition & detection, incident detection, perimeter intrusion detection, crowd detection & management, traffic & parking management, and others. The deployment model segment includes cloud and on-premises. On the basis of industry vertical, the market is categorized into transportation, BFSI, retail, government, manufacturing, energy & utilities, critical infrastructure, and others. Geographically, it is analyzed across North America, Europe, Asia Pacific, and LAMEA.
The major players operating in the global video analytics market include AllGoVision Technologies Pvt. Ltd., Aventura Technologies, Inc., Axis Communications AB, Cisco Systems, Inc., Honeywell International, Inc., IBM Corporation, Intellivision, PureTech Systems, Inc., Verint Systems, Inc., and Quognify.
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KEY BENEFITS FOR STAKEHOLDERS
• The report provides an extensive analysis of the current trends, future estimations, and dynamics of the global video analytics market.
• In-depth analysis of the video analytics market is conducted based on market estimations of key segments from 2016 to 2023.
• Extensive analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
• Comprehensive analysis of all regions assists in determining the prevailing opportunities related to video analytics industry across geographies.
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