Video Content Analytics Market Size
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.
Market Segmentation
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.
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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Video Content Analytics Market SizeThe Video Content Analytics (VCA) or Video Content Analysis technology finds application in numerous sectors including Commercial, Residential, industrial, infrastructure and institutional.
The video data generated by IP CCTV cameras are used for data analysis to process, categorize and analyze the objects and activities captured.
The algorithms can be implemented as software on general purpose machines, or can be embedded in the IP CCTV camera’s video processing unitsThe VCA technology offers more advantages especially, when incorporated with various software(s) such as recognition software or detection software enhancing safety, operations and security.
Other sectors where VCA technology is ubiquitous include gaming, transport and casinos where the video data from the standard IP CCTV cameras are effectively used for analyzing the conversion ratio.
Owing to its wide range of application in both governmental as well as nongovernmental sectors, Detection software holds the largest market share; among the different software being used in the market.Accrediting the phenomenal expansion the Video Content Analytics Market has acquired today and potential of the VCA technology to expand widely in the years to come, the Market Research Future recently published an equally meticulous study report giving out the complete market prognosis up till 2021.
According to the MRFR study report, the VCA market is expected to grow exponentially posting a CAGR of ~24-25% (2015-2021).The Global Video Content Analytics Market is predominantly driven by the growing security concerns, and the demand of security products and adoption of network based video surveillance coupled with the proven ability of VCA technology to be advantageous in Safety & Security sectors which also has considerably minimized the reliance on physical security.
Video Content Analytics Market SizeThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Video Content Analytics Market Size.
The growth sectors of the Video Content Analytics Market Size are identified with precision for a better growth perspective.The global video content analytics (VCA) market is predicted to grow at a 24.25% CAGR over the forecast period (2015-2021), reveals the new Market Research Future (MRFR) report.
Video Content Analytics or Intelligent Video Analytics (IVA) simply put, is an automatic analysis of CCTV images for creating valuable information about the content.
It has a vast range of uses such as detecting intruders, wrongly parked cars, and left packages, and also counting events such as people leaving or entering an area.VCA is used in various domains including safety and security, smoke and flame detection, home automation, transport, automotive, retail, healthcare, and entertainment.
These factors, in accordance with the Market Research Future (MRFR) report, include increasing penetration of IoT as well as related technologies such as serverless architecture and big data, burgeoning need from enterprises, and demand for industrial automation.
Additional factors boosting market demand include an increase in demand for IP-based security infrastructure and systems, and growing demand across various industries, including manufacturing, airports, retail, financial services, banking, and others.On the contrary, high initial installment cost, poor lighting conditions, and growing incidences of false alarms at the time of bad weather are factors that may hinder the video content analytics market growth over the forecast period.Market SegmentationThe Market Research Future report offers a wide segmental analysis of the video content analytics market based on application, software, and architecture.Based on software, the video content analytics market is segmented into license plate recognition, recognition, detection, and others.Based on application, the video content analytics market is segmented into transport and logistics, commercial, and government.Based on architecture, the video content analytics market is segmented into edge and server.
Global Video Content Analytics Market Research Report: Information By Type (Solution and Service), Deployment (On-Premise and On-Cloud), Architecture (Server-Based and Edge-Based), Application (Incident Detection, Intrusion Management, Automatic Number Plate Recognition (ANPR), Facial Recognition, Traffic Monitoring, Crowd Management and others), Vertical (BFSI, Retail, Healthcare, Transportation and Logistics, Government, Manufacturing, Hospitality and Entertainment and others) - Forecast till 2025Market Overview: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.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 with video content analytics 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.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/947Market Segmentation: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.
