Video Analytics Market Sees Growth At Rate 22% As It Helps In Reducing Crime Rate By Gaining Reliable InsightsMay 15, 2022
The Business Research Company’s Video Analytics Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON , UK, May 10, 2022 /EINPresswire.com/ — The drop in crime rate due surveillance cameras is expected to propel the global video analytics market growth. The surveillance cameras produce a large amount of videos and are an essential part of securing any infrastructure. Video analytics helps in reducing crime rate by automatically tracking and gaining reliable insights from video frames thus reducing the chances of negligence or human errors. For instance, in 2021, according to a systematic review of rigorous studies in the US and UK concerning the crime prevention impact of CCTV stated that CCTV resulted in reduction of crimes, especially theft and robberies in focal areas and it had been the most effective in public transport schemes (23% reduction) and car parks (more than a 50% decrease). According to the video analytics market research, the drop in crime rate due surveillance cameras will drive the growth of the market.
The global video analytics market size is expected to grow from $4.81 billion in 2021 to $5.86 billion in 2022 at a compound annual growth rate (CAGR) of 21.8%. The global video analytic market size is expected to grow to $12.37 billion in 2026 at a CAGR of 20.5%.
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Technological advancements are a key trend gaining popularity in the video analytics market. Major players in the market are focusing on advanced technologies to lead the market. For instance, in December 2019, VCA Technology, a UK-based video analytics software company launched VCA Server, a new powerful AI Deep Learning video analytics software suite. It is pre-calibrated to recognize people and vehicles to deliver an instant analytics application. It can also distinguish shadows, foliage movement, and changes in weather conditions enabling more accurate distinctions between false positives and true events.
Major players covered in the global video analytics industry are Allgovision Technologies Pvt. Ltd., Aventura Technologies Inc., Cisco Inc, Honeywell Inc., Intell Vision technologies Corp., Qognify Inc., Gorilla Technology, IBM Corporation, Calipsa, Bosch Security, Huawei Technologies, Bosch Security Systems GmbH, Agent VI, Genetec Inc, and PureTech Systems Inc.
TBRC’s global video analytics market is segmented by component into software, services, by organization size into small and medium enterprises, large enterprises, by deployment model into on-premise, cloud, by end-user into BFSI, retail, critical infrastructure, transportation and logistics, hospitality and entertainment, defense and security, others.
Video Analytics Global Market Report 2022 – By Component (Software, Services), By Organization Size (Small And Medium Enterprises, Large enterprise), By Deployment Model (On-Premise, Cloud), By End-User (BFSI, Retail, Critical Infrastructure, Transportation And Logistics, Hospitality And Entertainment, Defense And Security, Other End-Users) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a video analytics market overview, forecast video analytics market size and video analytics market growth for the whole market, video analytics market segments, geographies, video analytics market trends, video analytics market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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