The transformation of the video surveillance industry form traditional systems to advanced and smarter camera systems has led to the development in the field of video content analytics technology.
Market Research Future (MRFR) has published a report asserting that the global video content analytics market is registered to expand at a strong CAGR of 24.25% during the forecast period of 2015-2021.
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Market Drivers and Restraints:
Increasing application of video content analytics (VCA) in video surveillance systems to ensure public safety, improvement in business intelligence, and others is one of the major factors driving the growth of the global video content analytics market. The capability of automatically analyzing videos for detection and determination of various factors has led to the increased application of video content analytics technique in various industrial sectors such as automotive, healthcare, transport, home automation, safety and security and others, resulting in the significant expansion of the global video content analytics market.
incorporation of various software such as recognition and detection software Video Content Analytics Market technology has improved the functioning of video surveillance systems, leading to the growth of the global video content analytics market. Increasing use of video content analytics technology for security purposes as it facilitates motion detection, intrusion detection, facial recognition and others is impacting positively on the growth of the global video content analytics market.
The vital use of video content analytics technology in traffic management and other government services are some of the major factors that are driving the global video content analytics market towards higher verticals. However, obsolescence of technology and low penetration of advanced technology in underdeveloped regions are likely to hinder the growth of the global video content analytics market during the forecast period.
Major Key Player:
The prominent players of the global video content analytics market that are profiled in the report by MRFR are ADT security (the U.S.), Avigilon corporation (the U.S,), Cisco (the U.S.), HikVision Digital (China), Mobotix (Germany), Verint Systems (the U.S.), Allgo Vision (India), Bosch security system (Germany), and VCA Technology (the U.K.) among others.
The global video content analytics market has been segmented on the basis of software, architecture and application. Based on software, the video content analytics market is segmented into detection, recognition, license plate recognition and others. Based on architecture, the video content analytics market is segmented into server and edge. Based on application, the video content analytics market is segmented into government, commercial and transport and logistics.
Geographically, the global video content analytics market is segmented into North America, Europe, Asia Pacific (APAC) and the rest of the world (ROW). The North America region accounts for the maximum share in the global video content analytics market owing to the rise in demand for advanced surveillance system as a result of increased security threats and crime rate in this region.
The video content analytics market in the Asia Pacific region is growing significantly due to the increasing incorporation of video content analytics technology in various government operations and traffic management systems. The recent technological developments have led to the incorporation of video content analytics technology with artificial intelligence, which in turn is fueling the growth of video content analytics market in the Europe region.
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In August 2018, Nielsen Company’s Gracenote has announced the launch of a new mobile video analytics solution. This solution is aiming towards offering in-depth insights into the impact of mobile streaming video performance on subscriber engagement and retention.
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