Sarasota, FL, Sept. 27, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Video Analytics Market by Type (Software and Services), by Application (Incident Detection, Intrusion Management, People/Crowd Counting, Traffic Monitoring, Automatic Number Plate Recognition (ANPR), Facial Recognition and Other Applications) Market for Border Security, Hospitality and Entertainment, City Surveillance, Transportation, Critical Infrastructure Protection, BFSI, Retail, Education and Others Verticals: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 - 2022”. According to the report, the global video analytics market accounted for around USD 1.89 Billion in 2016 and is expected to reach approximately USD 11.10 Billion by 2022, growing at a CAGR of around 34.3% between 2017 and 2022.
Increasing terrorist attacks, frequency, and intensity of security breaches is estimated to key driving factors for video analytics market in years to come. Furthermore, rising demand for improved security arrangements, government investments especially in U.S. and U.K. in emerging technologies to enhance public safety infrastructure, the advent of industrial automation and demand for actionable insights are the key driving factors predicted to flourish the growth of video analytics market in the forecast period. Installation of video surveillance cameras in public places such as airports, railway stations, hypermarkets, hospitals, hotels, and shopping malls across the globe will contribute the growth of market massively. However, bandwidth and storage issues are expected to restrict video analytics market growth. Even so, growing inclination towards technologies such as IoT, AI, and machine learning is estimated to open new alluring opportunities for video analytics market in the near future.
Browse through 18 Market Tables and 34 Figures spread through 110 Pages and in-depth TOC on "Global Video Analytics Market: By Type, Size, Share, Trends, Applications and Forecast 2016 – 2022”.
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The software is expected to emerge as one of the most attractive type segment of the video analytics market in the forecast period. Advanced and updated version of the software will support the growth of this segment in the analysis period. Service is also expected to become another most lucrative type segment in the forecast period.
Facial recognition and traffic monitoring emerge as a leading application segment of the market. Increasing need for actionable data insights will support this application segment. Facial recognition is expected to grow with highest CAGR during the analysis period. Incident detection and people/crowd counting is also the application segment which predicted to show noticeable growth in the analysis period.
Transportation holds the largest market share in verticals segment of video analytics market in 2016. Increasing complexities in transportation verticals will surge the demand for video analytics market in coming years. Retail is another verticals segment predicted to offers significant opportunities for industry participants in near future.
Browse the full "Video Analytics Market by Type (Software and Services), by Application (Incident Detection, Intrusion Management, People/Crowd Counting, Traffic Monitoring, Automatic Number Plate Recognition (ANPR), Facial Recognition and Other Applications) Market for Border Security, Hospitality and Entertainment, City Surveillance, Transportation, Critical Infrastructure Protection, BFSI, Retail, Education and Others Verticals: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 - 2022. " report at https://www.zionmarketresearch.com/report/video-analytics-market
In terms of revenue, North America held the largest share of the global video analytics market and it is expected to maintain this trend in the world marketplace within the analysis period. The major factor driving the growth of the market in this region includes government investments to enhance public safety infrastructure and rising demand for improved security arrangements. U.S. held the largest market share in North America region and expected to continue this trend in coming years owing to increasing adoption of SaaS-based video analytics.
Europe is another leading regional market and is expected to witness noteworthy growth in the near future. Western Europe is predicted to account for the significant share of dollars spent on video analytics in foreseeable future. In addition, high technology adoption rate coupled with more stringent rules and safety standards over public sectors are some of the major contributing factors to the growth of video analytics market in Europe.
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Asia Pacific is estimated to most opportunist market for video analytics market and predicted to grow with highest CAGR over the analysis period. Installation of video surveillance cameras in public places such as airports, railway stations, hypermarkets, hospitals, hotels, and shopping malls majorly in developing economies will shape the growth of video analytics in this region. Transportation verticals segment also expected to favor the growth of this region massively. In 2016, China held the largest market share of video analytics market in Asia Pacific. India and Japan emerge as the lucrative countries for video analytics market growth.
The developing economies in Latin America also have a potential market for the further growth of the video analytics market. Increasing demand from transportation sector coupled with significant demand from retails and education sectors is expected to spur the demand for video analytics in this region. Brazil and Argentina are expected to be the key supporting countries for the growth of the video analytics market. The Middle East and Africa are also forecasted to show noticeable growth in years to come.
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Some of the key players operating in the video analytics are Honeywell International Incorporation, Puretech Systems, Agent Video Intelligence, Allgovision Technologies, Axis Communications, IBM, Intellivision Technologies., Genetec Inc., Avigilon Corporation, Aventura Technologies, Intuvision, Inc.and Cisco System amongst others.
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The report segment of global video analytics market as follows:
Global Video Analytics Market: Type Segment Analysis
- Software
- Services
Global Video Analytics Market: Application Segment Analysis
- Incident Detection
- People/Crowd Counting
- Traffic Monitoring
- Intrusion Management
- Automatic Number Plate Recognition(ANPR)
- Facial Recognition
- Other Applications
Global Video Analytics Market: Verticals Segment Analysis
- Border Security
- Hospitality and Entertainment
- City Surveillance
- Transportation
- Critical Infrastructure Protection
- Banking, Financial Services, and Insurance
- Retail
- Education
- Others
Global Video Analytics Market: Regional Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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