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Video Analytics Global Market Report 2022
Major players in the video analytics market are Allgovision Technologies Pvt. Ltd. , Aventura Technologies Inc. , Cisco Inc, Honeywell Inc. , Intell Vision technologies Corp. , Qognify Inc. , Gorilla Technology, IBM Corporation, Calipsa, Bosch Security, Huawei Technologies, Bosch Security Systems GmbH, Agent VI, Genetec Inc, and PureTech Systems Inc.
New York, June 07, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Video Analytics Global Market Report 2022" - https://www.reportlinker.com/p06284288/?utm_source=GNW
The global video analytics market is expected to grow from $4.81 billion in 2021 to $5.86 billion in 2022 at a compound annual growth rate (CAGR) of 21.8%. The market is expected to grow to $12.37 billion in 2026 at a compound annual growth rate (CAGR) of 20.5%.
The video analytics market consists of sales video analytics products and services by entities (organizations, partnerships, sole proprietors) that are used to perform a security-related functions. Video analytics is a technology that processes a digital video signal using a special algorithm to provide security to critical infrastructures with a powerful means for tracking people or objects, identifying and detecting intruders, and producing an alarm on types of behavior.
The main video analytics components include software and services.Video analytics software helps in the digital video surveillance, comprises of one or more high-end PCs, video capture cards, and licensed analytics software, and improve business processes and protect people and property.
The organization size for video analytics include small and medium enterprises and large enterprises. The different video analytics deployment modes include on premise and cloud for end-users including BFSI, retail, critical infrastructure, transportation and logistics, hospitality and entertainment, defense and security and other end-users.
North America was the largest region in the video analytics market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the video analytics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The drop in crime rate due surveillance cameras is expected to propel the growth of the video analytics market.The surveillance cameras produce a large amount of videos and are an essential part of securing any infrastructure.
Video analytics helps in reducing crime rate by automatically tracking and gaining reliable insights from video frames thus reducing the chances of negligence or human errors.For instance, in 2021, according to a systematic review of rigorous studies in the US and UK concerning the crime prevention impact of CCTV stated that CCTV resulted in reduction of crimes, especially theft and robberies in focal areas and it had been the most effective in public transport schemes (23% reduction) and car parks (more than a 50% decrease).
Therefore, the drop in crime rate due surveillance cameras will drive the growth of the video analytics market.
Technological advancements are a key trend gaining popularity in the video analytics market.Major players in the market are focusing on advanced technologies to lead the market.
For instance, in December 2019, VCA Technology, a UK-based video analytics software company launched VCA Server, a new powerful AI Deep Learning video analytics software suite.It is pre-calibrated to recognize people and vehicles to deliver an instant analytics application.
It can also distinguish shadows, foliage movement, and changes in weather conditions enabling more accurate distinctions between false positives and true events.
In April 2021, Atos, a France-based information technology service and consulting company acquired Ipsotek for an undisclosed amount.Through this acquisition, Atos aimed to complement its existing end-to-end offering in Edge AI/ML and reinforce its leading position in Edge and Computer Vision.
Ipsotek is a UK-based company that provides video analytics software.
The countries covered in the Video Analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06284288/?utm_source=GNW
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