GLOBAL VIDEO CONTENT ANALYTICS MARKET OUTLOOK Focus on Software, Application, and Geography, Estimation & Forecast, 2016-2022
The growing application of video content analytics (VCA) in the video surveillance systems plays an important role in ensuring public safety, infrastructure, transport, and improve business intelligence. The integration of video content analytics technology with surveillance system dramatically improved its effectiveness by converting simple pieces of information into actionable insights by the means of real time analysis. The reliance on VCA technology is growing along with which the adoption of VCA is also escalating at a good pace. Owing to this fact, the VCA market is anticipated to grow over $4.4 billion in 2022, at a CAGR of 34% in the forecast period from 2016-2022.
The report is a comprehensive analysis of the different segments of VCA market. The major market segmentation includes the market by architecture, by geography, by software, and by application along with the competitive landscape for the VCA market. The architecture chapter explains the platforms on which the video analytics software can be utilized with their specific market value in the total VCA market. The software chapter explains the application of the VCA technology in various software systems such as facial recognition, automatic number plate recognition, and, motion detection among others. Furthermore, the geography and application chapters are detailed along with the data of the revenue generation from each region and application sector respectively.
The competitive landscape covers the key strategies & developments and Porter’s five forces analysis. The key strategy chapter provides the shifting paradigm of the industry by the means of adopting any of the strategies such as product launch, business expansion, and acquisitions among others. Besides that, the Porter five forces analysis is also done provides the readers with an adequate understanding of the current status of the market by using the main factors of the five forces, alongside presenting detailed information on existing competitors as well as new competition in the market.
Moreover, the report also includes the major drivers, restraints, and opportunities for the VCA market. Each segment of the report is ended with identifying the market leaders in the region, application, software or architecture. The report is concluded with the company profiles of the key industry players such as Avigilon Corporation, Cisco, Hikvision, and Agent Vi among others.
Security and surveillance industry holds paramount importance across multiple application verticals, globally. While video surveillance industry is transforming from legacy system to smarter and advanced IP/network cameras, video content analytics (VCA) is becoming mainstream with more specific end-use verticals such as casinos, gaming, and transport among others. The integration of a simplified algorithm of VCA with any camera, particularly IP enhances the security manifold and is therefore, providing the much needed thrust to the market. The global VCA market is expected to witness a transition from the business model of generating revenue from selling software to camera vendors to the sales of embedded VCA hardware.
The VCA technology proves to be very advantageous when incorporated with various software like recognition software or detection software by adding value to safety, operations and security. This factor has driven the market to a great extent to utilize the software for purposes such as motion detection, intrusion detection, facial recognition, and traffic management among others. Among the different software being used in the market, detection holds the largest market share owing to its wide range of application in both governmental as well as nongovernmental application.
VCA find a huge expanse of application in almost every sector, thus, becoming ubiquitous for the video surveillance system. With the increasing penetration of network based video surveillance system in the security system being deployed now days, the video analytics technology market is flourishing with the similar pace. Owing to this fact, the VCA market is anticipated to grow more than 20% in all the application sector such as government, commercial, transport & logistics, and others.
The geographical analysis done in the report provides a clear picture of the growing adoption of the VCA technology across the world along with the market trends. Currently, North America holds the biggest market share with a total revenue generation of over $350 million in 2015 followed by Europe and Asia Pacific (APAC). The growth of VCA market in North America is primarily attributed to the presence of market leaders in the region and the increased government spending on the homeland security.
ROW includes Middle East, Latin America and Africa. This region now accounts for a smaller share of the market but is expected to witness a fast paced growth, owing to the development in entertainment and hospitality industry in Middle East, upcoming international sports activities in Latin America, and increasing security concerns in the emerging economies of Africa among others.
North America, Europe, Asia Pacific, ROW
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