Global Video Analytics Market is accounted for $2.95 billion in 2017 and is expected to reach $15.26 billion by 2026 growing at a CAGR of 20.0%. Some of the key factors influencing the market growth include falling prices of video surveillance equipment, growing inclination toward advanced technologies, rise in smart cities expenditure by governments and growing application of video analytics for reducing crime rates. However, privacy issues and high investments in legacy installations are restricting the market growth.
Some of the key players in the global Video Analytics market include IBM, Honeywell, Cisco Systems, Gorilla Technology, Axis Communications, Aventura, Puretech Systems, 3VR, Intelligent Security Systems, Allgovision, Intuvision, Digital Barriers, Delopt, Agent VI, Briefcam, Qognify, Kiwisecurity, Ipsotek, Verint and Iomniscient.
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Analytics have enabled the users to influence specific data insights into actionable intelligence for a variety of functions. The analytic programs also support analog, IP and megapixel cameras, and can be integrated within the hardware components. The addition reduces the need for extra hardware, thus making the implementation cost-effective. It enables the industries to detect the anomalies involuntarily and track the system on a real-time basis. Video analytics provides object identification, facial recognition, object detection, and perimeter intrusion detection.
By deployment, the cloud segment held significant market share during predicted period. The cloud deployment of video analytics solutions offers a variety of benefits, such as improved security, enhanced scalability, improved flexibility, and lower costs. It provides the choice of scalability, while enterprises that are more concerned about security tend to opt for the private cloud deployment type. By Geography, North America is expected to hold the largest market share during the forecast period, owing to the large presence of key industry players. As organizations are shifting to new and upgraded technologies with the rising acceptance of digital business strategies.
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End Users Covered:
-Logistics and Transportation
-Retail and Consumer Goods
-Defense and Border Security
-Hospitality and Entertainment
-Banking, Financial Services, and Insurance
-Energy & Utilities
-Commercial and Industrial
-Other End Users
-Facial Recognition & Detection
-Automatic Number Plate Recognition
-License Plate Recognition
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