The Global Video Analytics Market is estimated at $1.85 billion in 2014 and is expected to reach $11.21 billion by 2022, growing at a compound annual growth rate (CAGR) of 25.2% from 2014 to 2022. Some of the key drivers of the video analytics market include, the transition of video scrutiny system from analog to digital, surfacing of open standards and increase in the efficiency of video scrutiny system. While the video analytics intricacy, clubbed with higher cost of maintenance of analytics is the key inhibitor of video analytics market. The government sector is also investing in video scrutiny as the amorphous videos of poor quality cannot be used for investigation purpose and hence, the videos are renewed into superior quality videos to get proper information.
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The global Video Analytics Market is broadly segmented by the type as hardware and software. By end user, market is categorized as residential security, commercial and industrial security, urban security and public safety, critical infrastructure protection, airport and maritime security, retail industry, entertainment and casinos, defense intelligence and border security, transportation and logistics and others. Based on application, global video analytics market is classified as intrusion management, crowd management, situation induction, license plate recognition, pattern recognition, and others. By Geography, market is segregated as North America, Europe, Asia-Pacific and rest of the world.
The major players in the Global Video Analytics market include Cisco Systems, Inc., Axis Communications AB, Honeywell International, Inc, Object video, Inc., Robert Bosch GmbH, Nice Systems,Ltd., Avigilon Corporation, Agent Video Intelligence, Inc., Intellivision Technologies Corporation, International Business Machines Corporation.
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