DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Video Analytics Market by Type (Software and Services), Application (Intrusion Management, Incident Detection, Crowd/People Counting, Traffic Monitoring, ANPR, Facial Recognition), Deployment Model, Vertical, and Region - Global Forecast to 2022" report to their offering.
Demand for actionable insights derived from the ever-increasing data pool of video streams in organizations is one of the major drivers for the growth of the video analytics market
The video analytics market size is estimated to grow from USD 2.61 billion in 2017 to USD 11.17 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 33.7%
Government investments in emerging technologies to enhance public safety infrastructure have fueled the growth of video analytics software substantially. However, high investment costs with respect to supporting hardware and bandwidth, and storage issues are the restraining factors for the video analytics market.
The integration of video analytics with surveillance systems in traffic management department would be instrumental in identifying anomalies quicker and incidents on the road in real-time. Video analytics coupled with intelligent traffic management monitors digitally encoded video feeds of traffic cameras placed on public routes to detect incidents and continuously collect traffic data in real-time. Europe, for instance, is at the forefront in legally adopting automated incident detection systems to be deployed on public passage ways to ensure safety and reduce risks at a high degree.
APAC witnesses a significant rise in video surveillance analytics deployments with the emergence of smart cities in several countries. According to internal analysis, the APAC market is expected to be at forefront in the adoption of IoT (the IoT market is expected to grow from USD 157.05 Billion in 2016 to USD 661.74 billion by 2021, creating significant market opportunities). Governments are showing strong interest in the IoT technology to boost the public safety infrastructure.
- Demand for Actionable Insights Derived from the Ever-Increasing Data Pool in Organizations
- Government Investments Into Emerging Technologies to Enhance Public Safety Infrastructure
- High Investment Cost with Respect to Supporting Hardware
- Bandwidth and Storage Issues
- Advent of Industrial Automation
- Growing Inclination Towards Various Technologies Such as IoT, Machine Learning, and AI
- Huge Demand of Video Analytics in Non-Government Sectors Such as Retail and Entertainment
- High Demand for Recognition Application
- Demand for Improved Efficiency Levels of Video Surveillance
- Difficulties with the Remote and Isolated Locations
Issues of False Alarms and Lack of Reliability
- Agent Video Intelligent (U.S.)
- AllGoVision Technologies Pvt. Ltd.(India)
- Aventura Technologies Inc. (U.S.)
- Avigilon Corporation (Australia)
- Axis Communication (U.S.)
- Cisco Systems (U.S.)
- Genetec Inc. (Canada)
- Honeywell International Inc. (U.S.)
- I2V System Private Ltd.(India)
- IBM Corporation (U.S.)
- Intellivision Technologies (U.S.)
- IntuVision (U.S.)
- PureTech Systems Inc. (U.S.)
- Qognify (U.S.)
For more information about this report visit http://www.researchandmarkets.com/research/6kcm3f/video_analytics