The global video analytics market is expected to witness high growth owing to the need for improved operational effectiveness and enhanced surveillance solutions. Video analytics comprise security provision through automated monitoring of video content with the help of devices such as CCTV cameras and sensors. It provides benefits of tracking and identifying objects, analyzing motion and extracting video intelligence from digital, analog or IP video stream. The market is driven by increase usage of cloud computing, need for infrastructural safety, growing demand for automation and need for securing computing environment.
High installation cost and economical degradation may hamper market growth. Limitations to post recording search and difficulty in integration with existing infrastructure may hinder the video analytics market growth over the forecast period. Technological advancement and innovations have helped overcome issues such as false alerts and system complexity, and are also expected to supplement market growth. Ease of installation, enhanced user friendliness, HD quality video recordings, and biometric recognition technology are expected to create significant market growth opportunities over the next six years.
Video analytics technologies include cameras, sensors, connectivity techniques and image compression techniques. It is used in several application areas including, retail, education, banking & financial institutions, transportation, government and casinos & gaming industries. North America and Europe are mature markets as the technology is already deployed in most application segments. Asia Pacific video analytics market is expected to witness high growth owing to growing security concerns and government regulations mandating installation of surveillance devices in the region. Key players in the video analytics market include Canon Inc., ADT Security Services Inc., Bikal UK, Agent Video Intelligence, Axis Communications AB, Arecont Vision LLC, Basler AG and Bosch Security Systems among others.
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