Global Statistics Representing Video Content Analytics Market Scenario
Video Content Analysis (VCA) helps in the detection of moving objects to determine the size and length/width ratio of the object. Based on this information, the system can identify the object and be used to determine whether it is a human, an animal or a vehicle. As such, video content analytics is an automated process to see objects and activities and then assign meaning to them. This technical system is widely used in the security industry for better situational awareness, public safety, infrastructure, and transport and to improve business intelligence. Video analytics can detect a variety of events, in real-time, and immediately alert operators accordingly. With the use of video content analytics, systems can help pinpoint a security breach by analyzing movement.
Government initiatives for safe cities, a requirement of advanced technology for public and transportation safety, demand for security products and reducing reliance on physical security are among the key factors driving the growth of the video content analytics market. Safe cities use a network of video surveillance cameras to protect city locations such as parks, streets, car parks, and other public areas. Also, governments and many public agencies around the world are using video surveillance with a special focus on women’s safety in public spaces and quick response systems to create deterrence against crime. As a result, the demand for video content analytics is growing due to such initiatives for the development of safe cities. For example, IBM Intelligent Video Analytics helps security and public safety organizations develop comprehensive security, intelligence and investigative capabilities using videos. In addition, surveillance operators or physical security are prone to fatigue over long monitoring periods, which increases the chances of an event being missed. Video content systems can help automate the monitoring process, removing the burden solely from physical security. Also, video analytics for business intelligence and retail sector are further supporting the growth of the video content analytics market.
A number of lucrative opportunities exist in the video content analytics market, mainly driven by the fact that real-time streams of rich video content are posing as a potential solution to many social, political, economic and industry security issues. However, the high system cost and lack of awareness may obstruct the growth of the video content analytics market. Even a modest office setup can cost thousands of dollars in upfront equipment costs. Also, without training or experience, actually making videos can be tricky in commercial use and newcomers in video production often end up making costly mistakes.
Key Intended Audience
Market Segmental Insights
On the basis of software, the market has been segmented into detection, recognition, license plate recognition, and others.
On the basis of architecture, the video content analytics market has been segmented into server and edge.
On the basis of vertical, the market has been segmented into government, commercial, transport & logistics, traffic management, BFSI, and retail.
On the basis of application, the video content analytics market has been segmented into incident detection, intrusion management, traffic monitoring, and others.
North America is a prominent region in the video content analytics market with the presence of market leaders such as Avigilon Corporation, Cisco, and CameraFTP in the region. Increasing government spending on homeland security and awareness of the vulnerability of large crowds at sporting events and political gatherings are some of the factors driving the adoption of video content analytics in North America. Developed countries such as the U.S have strong acceptance of digital resources in the economic ecosystem, which has led to the growing penetration of video content analytics.
The Europe market is driven by the strong presence of digitalized resources in countries such as Germany, France and the U.K. ISIS-inspired terror attacks on Paris and Brussels in 2015–2016 shook the European public, governments and security bodies; subsequently, many government organizations are deploying video surveillance systems with video content analytics technology. As a result, the market in Europe has been witnessing sizable investments and rising interest in the adoption of advanced technological equipment. The increasing need to ensure security provisions in public transport and at public buildings, long infrastructure, industrial sites, mobile assets, and other locations and offices has been propelling market growth in Europe.
The Asia-Pacific video content analytics market has been experiencing a remarkable shift due to the increasing need for safety and security. Rising crime rate, terrorism, and threat from illegal entry of intruders have been driving the adoption of video content analytics in the region. The adoption of video content analytics for transportation & logistics, aviation & maritime security, defense sector, safe cities & smart cities, border security, commercial & public buildings, retail industry, and residential security drive the market growth in Asia Pacific.
LAMEA is expected to grow at the considerable growth rate, due to increasing spending on homeland security.
Some of the prominent players operating in the video content analytics market are Agent Video Intelligence, Arecont Vision, Avigilon Corporation, Bosch Security System, Camcloud, CameraFTP, Cisco Systems Inc., Eagle Eye Networks, Envysion Inc., LKQD Technologies, and Delmondo.
Global Video Content Analytics Market Segmentation
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On 1 December 2017, the AI/computer vision firm, Uru, and Delmondo, a social video analytics firm, announced a partnership to automatically generate analytics about who’s watching and recognizing brands’ video content.