World Video Analytics Market to Register 20.2% CAGR through 2021, States M&M in Its In-demand Report Published at MarketPublishers.com13 Jul 2016 • by Natalie Aster
LONDON – Worldwide, the value of the video analytics market is projected to increase at a 20.2% CAGR through to 2021, to amount to the USD 4.23 billion mark. The factors supporting the market growth comprise soaring security threats and call for intelligent surveillance and surging demand for video analytics for non-security purposes.
Application-wise, perimeter intrusion detection is anticipated to capture the largest slice of the video analytics market pie in the offing.
In terms of verticals, the public security and defense is set to play a vital part in the marketplace. The growing sophistication of threats and terror attacks has invoked the government concern to substitute their traditional surveillance systems and roll out intelligent surveillance systems based on video analytics. Furthermore, the emerging economies going through an enormous transformational change and development of different critical infrastructures like nuclear power plants, motorways, and smart cities are the key factors fuelling the growth in the uptake of video analytics services and products.
Geography-wise, the APAC video analytics sector is likely to witness the highest growth over the forecasted period. There are a host of potential opportunities for growth in the marketplace owing to the massive development taking place in the region like the deployment of critical infrastructures, smart cities, and organisations’ surging business needs.
In-demand research report “Video Analytics Market” elaborated by M&M is devoted to examining the market from a global perspective. The study defines, describes, and forecasts the video analytics marketplace based on type, application, type of deployment, vertical, and region to offer granular information pertaining to the major factors impacting the market growth including driving and restraining factors, challenges and opportunities, as well as to project the market size of key market segments with respect to top 5 regions.
Key vendors discussed include: Avigilon Corporation, Cisco Systems, Agent Video Intelligence, Honeywell International Inc., Axis Communication, IBM Corporation, Aventura Technologies Inc., and Genetec Inc., among others.
More studies by the publisher can be found at M&M page.