Published Date : Jun 28, 2018
Albany, New York, June 28th, 2018: The global market for video analytics is expected to tread along a lucrative growth path over the forthcoming. The application of video analytics across a wide range of industries is the most prominently visible reason behind the growth of the global market. Video analytics refers to the automated detection of spatial and temporal events, people, objects, and scenarios through videos. The information or response gathered from video reports can be use to effectuate processes, identify defaults, set reminders, and recognise people or objects in across a wide range of industries. In recent times, an increasing number of sectors are using video analytics to facilitate several tasks with palpable ease. It is anticipated that the global market for video analytics would soon emerge as a lucrative haven for investors, stakeholders, and market vendors. The availability of technologically advanced IP camera devices that boast of superior video quality has benefitted the global market for video analytics. A report on the global market for video analytics was recently added by Market Research Reports (MRR), and it aims to bring out the significance of video reports for several industries. The report is titled, “Video Analytics Market Size, Share - Industry Trends and Forecast 2015 – 2023”.
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Video analytics offer the option of getting real-time insights about situations and events without the need to continuously analyse video feeds. This is an important consideration for industrial and commercial units that require regular notifications about automated events. Furthermore, real-time monitoring of events has become an indispensable need of key sectors including urban and public security, banking, defense and aerospace, and retail among others. As the aforementioned industries expand, the demand within the global market for video analytics is expected to touch new heights over the forthcoming years. In recent times, the healthcare industry has emerged as a key consumer of the global market for video analytics. Another key industry that has brought about revolutionary growth in the global market for video analytics is transportation and logistics. On account of the aforementioned factors, it is safe to estimate that the global market for video analytics is swiftly pervading across all the industrial longitudes.
On the basis of geography, the demand for video analytics has escalated by leaps and bound across Asia Pacific. The emergence of key industries, huge-scale investment by international players, and development of special economic zones are some of the factors that have led to the growth of the market in Asia Pacific. The markets in North America and Europe are expected to flourish alongside the adoption of video technologies across multiple industries.
Some of the key players in the global market for video analytics are VCA Technology Ltd., Bosch Security Systems Inc., Avigilon Corporation, Genetec, Inc., IntelliVision, and Cisco Systems Inc.
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