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Global Video Analytics Market: Overview
Video analytics cancels the need to continuously watch over or engage live personnel to review video surveillance system or security camera footages by facilitating automated and round-the-clock monitoring. Video analytics software help organizations to make the best use of their surveillance or security systems by alerting security personnel only when required or at the time of the occurrence of unusual events. Video analytics benefits organizations with intelligent Internet protocol (IP) camera systems, reduced workload on management and security staff, and increased surveillance efficiency.
Global Video Analytics Market: Key Trends
The world video analytics market is prophesied to gain impetus from the strong demand for actionable insights obtained from the ever-increasing data pool of companies. The need to improve public safety infrastructure supported by investments in upcoming technologies by governments could draw limelight in the world video analytics market. However, high cost of investment on the part of supporting hardware and problems related to storage and bandwidth are expected to hold back the growth of the world video analytics market. Reliability issue, false alarms, and problems associated with isolated and remote locations could be other factors hurting the rise of demand in the world video analytics market.
Nonetheless, partnership with established players in the world video analytics market is predicted to ease the cost burden. Top-end software offering features such as intrusion management, facial recognition, traffic monitoring, and incident detection could bode well for the future of the world video analytics market. The right to protect camera-captured information data that is personally identifiable and susceptibility of sensitive organizations to security contraventions are forcing them to shift their data to the cloud. This could very well work in the favor of the world video analytics market.
Global Video Analytics Market: Market Potential
Thermal Imaging Radar (TIR) is expected to turn the table in its favor in the video surveillance industry with its game changing offering, Thermal Radar. With a couple of awards under its belt and an assurance of providing intrusion detection at a minimal cost, Thermal Radar is IP66 certified, which means it can function even in weather conditions ranging from -40°C to 55°C. Moreover, it is not restricted to the International Traffic in Arms Regulations (ITAR), unlike most radar systems, which allows it to offer more strategic and friendlier intrusion detection solutions.
Global Video Analytics Market: Regional Outlook
The need for surveillance and automated monitoring with regard to physical monitoring over CCTV cameras is prognosticated to set the tone for the North America video analytics market. The installation of video surveillance cameras has augmented considerably in North America post the 9/11 terrorist attack. As a result, North America could be poised for a telling growth in the international video analytics market at a striking pace. The growth could be fortified by the elevating concerns of the U.S. government bodies to search culprits and bring them to books as soon as possible. Consequently, the demand for advanced video analytics solutions is envisaged to flesh out in North America in the coming years.
India is foretold to experience the benefits of using video analytics especially in the transportation sector where the security of railways and railway passengers is a major concern. Security forces such as Government Railway Police (GRP) and Railway Protection Force (RPF) advantaged by opportune alerts during massive buildup of crowds at station premises could be evident of the rising need in the India video analytics market.
Global Video Analytics Market: Competitive Landscape
The introduction of high-end video analytics application, AXIS Perimeter Defender, by Axis Communications in 2016 is foreseen to be a fine instance of players wanting to adopt new product launch as a reliable strategy to spread their presence in the worldwide video analytics market. Acquisition could be another strategy adopted by companies operating in the worldwide video analytics market to improve customer experience and satisfaction. For instance, RSI Video Technologies was acquired by Honeywell in 2016. Cisco, IBM, and Genetec are some of the other leading players in operation in the worldwide video analytics market.
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The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.
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Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.
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