Video Analytics Market is to Rise at an Impressive Growth Rate of 20.6% CAGR Due to Rising Installation of IP Cameras

The need for enhanced security and demand for gathering insights from customer behavior is driving the video analytics market globally. The market for video analytics is anticipated to expand at a CAGR of 20.6% during the forecast period from 2015 to 2023. The global video analytics market was valued at US$ 1,709.0 Mn in 2014.

Some of the key factors driving the growth of the video analytics market include the expanding range of vertical applications, a growing trend toward bringing retail outlets and commercial premises under video analytics due to security concerns and the need to monitor and understand the environment around the premises. Video analytics is widely deployed in residential, commercial and industrial, urban security and public safety, healthcare, defense and border security, transportation and logistics, retail, and other settings.

Get PDF Sample of Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=690

Video analytics equipment and solutions provide post-event as well as real-time event detection through data analysis. This increases the efficiency and security of businesses and reduces manpower costs. Video analytics equipment manufacturers and solution providers focus on providing technologically advanced products to customers to ensure better work, greater reliability, and increased precision. This has magnified the need for video analytics in various end-use industries.

In terms of various applications, the global video analytics market is segmented into video indexing, people recognition, license plate recognition, object recognition, incident detection, and others including traffic monitoring, cross-camera tracking, safety alerts, post-event analysis, wide spectrum imagery etc. In 2014, among these, video analytics for people recognition applications was the most preferred, and accounted for around 30% of the revenue of the overall video analytics market. Moreover, this segment is expected to expand at a CAGR of 20.0% from 2015 to 2023.

Download TOC@ https://www.transparencymarketresearch.com/report-toc/690

In terms of different end-use industry, the video analytics market is classified into residential, commercial and industrial, urban security and public safety, healthcare, defense and border security, transportation and logistics, retail, and others including education, entertainment, and hospitality. In 2014, commercial and industrial end-users held the largest revenue share of around 25% of the overall video analytics market. However, video analytics deployed in retail industry are expected to grow at the fastest CAGR in terms of revenue during the forecast period from 2015 to 2023.

Geographically, North America is the largest market for video analytics, globally. In 2014, North America accounted for around 36% of the overall video analytics market revenue share. Furthermore, Asia Pacific is expected to witness the fastest growth during the forecast period. China, India, Japan, Australia, and South Korea are among the major markets for video analytics in this region.

View Report@ https://www.transparencymarketresearch.com/video-analytics-market.html

The video analytics market is highly fragmented and a few brands have established themselves in the market: Avigilon Corporation, VCA Technology Ltd., Genetec, Inc., IntelliVision, and United Technologies Corporation. A large number of other regional players are located across different geographies. These players are well established in regional markets but have a limited global presence.

The global video analytics market shows the presence of key players including Bosch Security Systems Inc., Genetec, Inc., Avigilon Corporation, VCA Technology Ltd., Milestone Systems A/S, Honeywell International, Inc., Samsung Techwin (Hanwha Techwin), Cisco Systems Inc., United Technologies Corporation, and IntelliVision.

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
Research Blog: http://www.techyounme.com/

This release was published on openPR.