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The global Video Analytics Market Size is expected to attain a market size of $10.7 billion by 2022, rising at a CAGR of 32.6% during the forecast period.
Video analytics software came into existence to review videos and identify useful incidents from the surroundings. The otherwise difficult task of watching videos is made easy with video analytics software and as a result efficient out can be expected from the same. Video analytics makes the surveillance system more efficient, reduces workload on security and management staff, and helps in capturing the full value of security video by making the IP camera system more intelligent. Video analytics software for security cameras is available in several forms, namely installed on camera, on NVR, or as 3rd party software. Every form of video analytics solution works in a different manner, and it would depend on the manufacturer and the application itself. Nevertheless, it is possible to set up the application to certain parameters such as to the activity the software is looking for, set up the alert notification system, and raise alarms when criteria are met.
Based on Component, the market is segmented into Software and Services. Services are further divided into Professional and Managed. Based on Application, the market is segmented into Intrusion Management, Incident Detection, Traffic Monitoring, PeopleCrowd Counting, Facial Recognition, Automatic Number Plate Recognition, and Other Application. Based on Deployment Type, the market is segmented into On-Demand and On-Premise. The verticals included in the report are Transportation, Traffic Management, Critical Infrastructure Protection, Border Security, Hospitality & Entertainment, City Surveillance, BFSI, Retail, and Others. Based on region, Video Analytics market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific) and Latin America, and Middle East & Africa. North America remained the dominant region in the global Video Analytics market in 2015. Asia-Pacific would witness promising CAGR during the forecast period (2016-2022).
The report covers the analysis of key stake holders of the Video Analytics market. Key companies profiled in the report include Cisco Systems, Inc., Honeywell International Incorporation, International Business Machines Corporation, Axis Communications, Avigilon Corporation, Genetec Inc., Aventura Technologies Inc., and I2V Systems Private Ltd.