Video Content Analytics Market Overview:
The video content analytics market is expanding at quite a fast pace owing to the rising need for real time event detection as well as the analysis of the recorded data. Video content analytics witnesses a huge expanse of application in almost every sector, thus becoming ubiquitous for the video surveillance system. With the emergence of video analytics, the surveillance market took a new shape by shifting away from the analog dominated market to becoming an IP driven market.
The security & surveillance business has been booming for the past decade or so. It has undergone a massive transformation. The age-old CCTV cameras have now been converted into entirely digital, advanced and network-based video surveillance systems. Shipment data revealed that at any given time approximately 2 billion security cameras are being operated across the world. This is where the video content analytics comes into the picture, this technique was formulated to put to use the video data that has been amassed from the surveillance cameras in a refined manner.
Majority of the enterprise owners are asking for this service at the moment. Therefore, Market Research Future decided to issue a research report on ‘Video Content Analytics Market’. This study affirms that this market will prosper extensively during the forecast span of 2017-2021. It is estimated to accumulate a staggering revenue turnover by the end of the forecast period. The CAGR for this period will be approximately 24-25%.
Decreased reliance on physical measures of security is one of the primary growth boosters for the market. Unlike earlier times, business owners of the modern era do not wish to hire people to safeguard their premises rather they look for something more reliable.
Apart from that, additional factors like rising need for better security products, increased stress on security, acceptance of network-based video surveillance, the cost-effectiveness of advanced video analytics DSP technologies and inculcation of video analytics in the business & retail sector happen to further foster the progression of this market.
Although, expensiveness of the system & installation costs, insufficient knowledge regarding this technology amongst the masses and privacy concerns may hamper the development of this market. However, efforts are being taken in this direction and very soon a promising solution should be discovered.
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Some of the most recognizable names in this industry can be listed as HikVision Digital, ADT Security, Bosch security system, Verint Systems, Avigilon Corporation and VCA Technology.
April 6, 2018 – BriefCam a leading market player recently launched a highly advanced & innovative video content analytics platform. It is devised from a peculiar fusion of computer vision and artificial intelligence (AI) technology and can be utilized as an essential asset.
The research report offered Market Research Future comprises of an in-depth evaluation of all the aspects of this market. Amongst them, the segmental analysis happens to be crucial. Here are some of the important pointers from that section of the report.
By software – License plate recognition, detection and recognition.
By application – Transport & logistics, government and commercial.
By architecture – Edge and server. Out of the two, server based architecture happens to have an edge over the other segment. But edge based architecture is not very far behind and is expected to be the fastest-growing segment of the market. It will generate leads through higher sales of VCA software and embedded VCA IP cameras.
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Comprehensive Regional Analysis:
The market for video content analytics has been successful in spreading its business across various sectors of the world. Some of the main regions where its presence can be predominantly observed can be listed as North America, Asia Pacific, Europe and Rest of the World.
According to the analysts at MRFR North America governs the market from the regional point of view. It accounts for approximately 37% of the market share. The next in line after North America is Asia Pacific, it is anticipated to be the fastest-growing region and it will generate a revenue of around 1 billion by the end of the forecast period. During the projection span, this market will grow at an encouraging CAGR. Lastly, the European market too will tread forward at an impressive CAGR of 20%.
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