New York, US, June 30, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Video Content Analytics Market information by Type, by Deployment, by Architecture and Application – forecast to 2027” the market size to grow from USD 3.34 Billion in 2018 to USD 12.87 Billion by 2025, expanding at 21.71% CAGR.
Video Content Analytics Market Scope:
Video content analytics, simply put, are a VDO analyzing capability that is used widely in the security industry for improved situation awareness like safety and security, and flame and smoke detection. It has wide applications in different sectors such as institutional, infrastructure, industrial, residential, and commercial.
Video analytics is a computerized processing & automatic analysis of the video that is generated, monitored, or collected at the time of video surveillance. It helps to detect the temporal occurrences, spatial, and anomalies and generate alerts or alarms automatically to concerned users. This software can help in simplifying the forensic analysis of historical data for classifying trends, incidents, and patterns. Video analytics help to automate the process of video surveillance by offering users with high-end benefits at a reduced cost.
Dominant Key Players on Video Content Analytics Market Covered Are:
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Market USP exclusively encompassed:
As per the MRFR report, there are numerous factors that are propelling the video content analytics industry growth. These include increased focus and investments by governing institutions on public safety, the need to examine and use unstructured video surveillance data in real-time, fall in crime rate owing to surveillance cameras, need among enterprises to leverage BI and actionable insights for advanced operations, restrictions on manual video analysis, and initiatives by the government in emerging technologies to improve the public safety infrastructure. Additional factors adding market growth include a fall in the price of video surveillance equipment and long-term ROI, demand for improved video surveillance, increasing security concerns, demand for security products, use of the software in traffic management, facial recognition, intrusion detection, and motion detection, increasing uptake in casinos, racing, and gaming, and use for business compliance and safety for COVID-19 outbreak.
On the flip side, privacy issues, lack of awareness, and high cost may impede the market growth over the forecast period.
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Segmentation of Market covered in the research:
The Market Research Future report offers an inclusive analysis of the video content analytics market based on vertical, application, architecture, deployment, and type.
By type, the video content analytics market is segmented into services & solutions. The service segment is again segmented into professional service and managed service.
By deployment, the video content analytics market is segmented into on-cloud and on-premise. Of these, the on-cloud segment will dominate the market over the forecast period.
By architecture, the video content analytics market is segmented into edge-based and server-based. Of these, the server-based segment will spearhead the market over the forecast.
By application, the video content analytics market is segmented into crowd management, facial recognition, traffic monitoring, automatic number plate recognition (ANPR), incident detection, intrusion management, and others. Of these, the crowd management segment will lead the market over the forecast period.
By vertical, the video content analytics market is segmented into manufacturing, hospitality and entertainment, government, transportation and logistics, healthcare, BFSI, retail, and others. Of these, the retail segment will have the lion’s share in the market over the forecast period.
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North America to Remain Driving Force in Video Content Analytics Market
By region, the global content analytics industry covers growth opportunities and the latest trends across Europe, the Asia Pacific (APAC), North America, South America, and the Rest of the World (RoW). Of these, North America will remain the driving force in the market over the forecast period. Early use of the technology, the presence of several key players focusing on improving VCA solution capabilities, growing adoption of video content analytics and cloud technology, various investments, and strategic partnerships among key players, and the presence of key technology providers in the US are adding to the global video content analytics market growth in the region.
Europe to Grab Second-Largest Share in Video Content Analytics Market
The video content analytics market in Europe is predicted to hold the second-largest share over the forecast period. Growing adoption of IP-based cameras & video analytics technology, increasing demand for cloud-based solutions, increasing uptake of VCA technology across key industries, and increasing use in law enforcement sectors are adding to the video content analytics market growth in the region.
APAC to Grow at Fast Pace
The video content analytics market in the APAC region is predicted to grow at a fast pace over the forecast period. The trend of smart cities, digital technology advancements, rise in the number of enterprises, rise in criminal activities, rapid economic growth, presence of key market players in the UK and the US that are expanding their business, and growing adoption of cloud-based VCA are adding to the global video content analytics market growth in the region.
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COVID-19 Impact on the Global Video Content Analytics Market
Luckily the video content analytics software market has not faced the brunt of the COVID-19 crisis. Rather this pandemic had a positive impact on the market growth for an increase in demand for mask detection, offer social distancing alerts, reduce hotspots and crowd, facial recognition, track patient inflow, and efficient contact tracing to curb the crisis. Since the onset of this outbreak, this technology is used for different purposes for different business groups across industries like urban planning, higher education, retail, healthcare, and law enforcement.
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