The video analytics market is expected to grow from $ 4.3 billion in 2020 to $ 17.6 billion by 2027 with a CAGR of over 22.2% over the forecast period from 2020 to 2027. </ The automated processing and analysis of video material generated, collected or monitored by computers during video surveillance is known as video analysis. The program recognizes features, events, patterns and properties of people or objects through visual analysis of the monitored environment, while irrelevant actions are discarded. Unstructured video data is generated in significant amounts through industry surveillance, city surveillance, and social media. Users can also use video analytics software to evaluate, organize, and share insights into video data to aid decision making.
During the forecast period, transportation and logistics will be one of the fastest growing industries. Video surveillance is becoming more and more important in the transport and logistics industry. Congestion reduction, behavior analysis, improved security measures, event recording and detection of the blind spot are just some of the advantages of video analysis in transport and logistics. Commuters can benefit from video analytics by strengthening and improving this industry while also providing more security benefits. The various functions of video analysis, such as freight and train wagon detection, face recognition, intelligent traffic monitoring, object tracking and detection of unidentified objects, can help transport and logistics companies to prevent disasters and detect emerging threats that could destroy the infrastructure or fatal vehicle accidents.
North America leads the world in terms of the number of security providers and the incidence of security breaches. As a result, North America dominates the global video analytics industry as it has the most advanced technical adoption and infrastructure. Growing concerns about the security of critical infrastructure and national borders have resulted in increased government engagement in recent years. Due to specific budget allocations such as the Department of Homeland Security budget and mandatory security laws, North America is expected to be the most profitable market for suppliers from various industries. In the North American market, the United States and Canada are being studied. For both administrations, the protection of critical infrastructures is the most urgent economic and national security problem. Several governments and law enforcement agencies in the United States and Canada are working to improve their security infrastructure. The governments of the United States and Canada are constantly coordinating with law enforcement agencies to combat violent extremism and terrorist activity.
Key players in the market include Agent Vi, Allgovision, Aventura Systems, Genetec, Intellivision, Intuvision, Puretech Systems , Hikvision, Dahua, Iomniscient, NEC, Huawei, Gorilla Technology, Intelligent Security Systems, Verint, Viseum, Briefcam, Bosch Security, i2V, Digital Barrier, Senstar and Qognify. To expand their market offerings, video analytics software providers have used a variety of organic and inorganic development techniques, such as: B. New product launches, product upgrades, partnerships and agreements, business expansions, and mergers and acquisitions. Axis Communications partnered with Genetec’s security center in March 2019. This integration meets the needs of medium and large companies with multiple locations. In March 2021, Honeywell agreed to acquire a majority stake in Fiplex Communications to expand its indoor connectivity and communications offering. Fiplex’s wireless solutions will be compatible with Honeywell’s.
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