Feb 27, 2020
Apr 04, 2019 (AB Digital via COMTEX) -- Video Analytics Market by Type (Software and Services), by Application (Incident Detection, Intrusion Management,...
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Apr 04, 2019 (AB Digital via COMTEX) -- Video Analytics Market by Type (Software and Services), by Application (Incident Detection, Intrusion Management,...
Video Analytics Market Size Worth $9.4 Billion By 2025 | CAGR: 22.8%
The global video analytics market size is expected to reach USD 9.4 billion by 2025, according to a new study by Grand View Research, Inc., registering a 22.8% CAGR over the forecast period. Increasing demand for intelligent security surveillance systems, which can be used for estimating key trends and deriving patterns, is the key factor driving market growth. In addition, increasing concerns over public safety and use of video analytics in criminal investigations are positively impacting demand for video analytics solutions.
Apart from surveillance, video analytics solutions have also found increasing application in the retail sector for estimating average footfall, gender bifurcation, display effectiveness, and attractiveness of shelf space. Furthermore, superstores and mega marts have started implementing these systems to gain insight into consumer behavior.
Use of advanced algorithm technology in video analytics enables examination of captured videos frame by frame, irrespective of light exposure, thereby making video analytics a reliable and efficient choice for ensuring security. Furthermore, industries such as transportation, retail, and healthcare are witnessing significant increase in the adoption of video analytics, owing to rising application of intrusion detection, license plate recognition, crowd management, and congestion detection in these industries.
To request a sample copy or view summary of this report, click the link below: https://www.grandviewresearch.com/industry-analysis/video-analytics-market
Further key findings from the study suggest:
Facial recognition is expected to emerge as the fastest growing application segment with a CAGR of 25.9% from 2017 to 2025. This can be attributed to widening scope of facial recognition solutions for surveillance purposes at malls, events, airports, and public transport, among others
By type, the services segment is projected to register the highest CAGR of 24.0% for the next eight years. This can be attributed to increasing demand for and installation of video analytics solutions, which are, in turn, propelling demand for related managed and professional services
The cloud segment is anticipated to emerge as the most preferred deployment option for video analytics solutions as it offers flexibility and convenience, allows remote access, and provides easy maintenance
North America accounted for the largest share in 2016 and is driven by presence of prominent market players who consistently work on developing new and innovative technologies in video analytics
The retail end-use segment is anticipated to register the highest CAGR of 25.6% over the forecast period. This may be attributed to use of video analytics in applications such as people counting, display and promotion effectiveness, product placement and store layout, and customer preference pattern analysis
Asia Pacific is expected to experience the highest growth from 2017 to 2025, driven by emerging economies such as India and China. These nations are expected to augment their expenditure on intelligent and security surveillance systems
Key industry participants include Cisco Systems, Inc.; Axis Communications AB; Bosch Security Systems GmbH; Agent Video Intelligence Ltd.; Honeywell International Inc.; IBM Corporation; AllGoVision Technologies Pvt. Ltd.; Genetec Inc.; Aventura Inc.; and i2v System Pvt. Ltd.
See More Reports of This Category: https://www.grandviewresearch.com/industry/electronic-security-systems-and-devices
About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Video analytics has become the need of an hour as technology has progressed, offering various applications in security, monitoring, and motion sensing.
Video analytics has become the need of an hour as the technology has progressed, offering various applications in terms of security, monitoring, and motion sensing. Along with offering a better view of what is happening, video analysis has begun providing practical and robust solutions to real-world problems.
Increase in demand for advanced business insights and need for improved surveillance system booming Video Analytics Market The V ideo ...
Surge in ICT expenditure and increase in cloud adoption across several industry verticals, including transportation, BFSI, retail, government, manufacturing, energy & utilities, critical infrastructures, and others, are anticipated to augment the penetration. The prominent markets, such as Asia-Pacific and Europe, with developed cloud infrastructure, high adoption of Internet of Things (IoT) technology, and surge in demand for IP-based security systems are anticipated to fuel the video analytics market growth in the near future.
Video Analytics Market are changing worldwide with CAGR of 22.8% by 2025
Video Analytics Market Worldwide size is expected to reach USD 9.4 billion by 2025, according to a new study by Grand View Research, Inc., registering a 22.8% CAGR over the forecast period.
Access Full Report @ https://goo.gl/Kqj2e5
Increasing demand for intelligent security surveillance systems, which can be used for estimating key trends and deriving patterns, is the key factor driving market growth. In addition, increasing concerns over public safety and use of video analytics in criminal investigations are positively impacting demand for video analytics solutions.
Apart from surveillance, video analytics solutions have also found increasing application in the retail sector for estimating average footfall, gender bifurcation, display effectiveness, and attractiveness of shelf space. Furthermore, superstores and mega marts have started implementing these systems to gain insight into consumer behavior.
Use of advanced algorithm technology in video analytics enables examination of captured videos frame by frame, irrespective of light exposure, thereby making video analytics a reliable and efficient choice for ensuring security. Furthermore, industries such as transportation, retail, and healthcare are witnessing significant increase in the adoption of video analytics, owing to rising application of intrusion detection, license plate recognition, crowd management, and congestion detection in these industries.
Further key findings from the study suggest:
• Facial recognition is expected to emerge as the fastest growing application segment with a CAGR of 25.9% from 2017 to 2025. This can be attributed to widening scope of facial recognition solutions for surveillance purposes at malls, events, airports, and public transport, among others
• By type, the services segment is projected to register the highest CAGR of 24.0% for the next eight years. This can be attributed to increasing demand for and installation of video analytics solutions, which are, in turn, propelling demand for related managed and professional services
• The cloud segment is anticipated to emerge as the most preferred deployment option for video analytics solutions as it offers flexibility and convenience, allows remote access, and provides easy maintenance
• North America accounted for the largest share in 2016 and is driven by presence of prominent market players who consistently work on developing new and innovative technologies in video analytics
• The retail end-use segment is anticipated to register the highest CAGR of 25.6% over the forecast period. This may be attributed to use of video analytics in applications such as people counting, display and promotion effectiveness, product placement and store layout, and customer preference pattern analysis
• Asia Pacific is expected to experience the highest growth from 2017 to 2025, driven by emerging economies such as India and China. These nations are expected to augment their expenditure on intelligent and security surveillance systems
Key industry participants include: Cisco Systems, Inc.; Axis Communications AB; Bosch Security Systems GmbH; Agent Video Intelligence Ltd.; Honeywell International Inc.; IBM Corporation; AllGoVision Technologies Pvt. Ltd.; Genetec Inc.; Aventura Inc.; and i2v System Pvt. Ltd.
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