The foundation for the construction of the smart city remains as a broad application area necessitating the implementation of video analysis for detecting any significant disturbance and undue occurrences in the peripheral environment. Although video surveillance and analytics is a mainstream industrial specialization, it is experiencing newer innovations as the world is eyeing on the Internet of Things (IoT) and artificial intelligence capabilities in every field. Automation penetrating global video surveillance and analytics industry integrating successful collaboration of smart intelligence with video analytic software technology, which is offering features such as security solutions and detection of spatial events to multifarious end-users. Burglary incidents increasing across the world is a major threat to the business economy and residential property, consequently enabling the deployment of CCTV cameras which relies hugely on effective video surveillance and analytic solution which include auto track detection, tamper detection, facial recognition, motion detection, and many others. Largely, the video surveillance and analytics market growth is incrementing rapidly with higher dependability of transportation and logistics, healthcare, and aerospace industry. Additionally, cloud convergence with the video surveillance and analytics provides wide scope for the OEMs to deliver storage, recording, remote viewing, management alerts, and cyber security solutions with the introduction of Video Surveillance as a Service (VSaaS). The global Video Surveillance and Analytics Market leveraged a revenue generation of $30.4 billion in the year 2018 and acquired a demand which is estimated to grow during the forecast period of 2019-2025 at a CAGR of 10.8%.
Industrialization growing swiftly across the globe is highly reliable on transportation and logistics department for the delivery and handling of freight products. This brings into fore the picture of video surveillance to facilitate tracking and monitoring of bulk goods, also equally necessitating video analytics solutions during theft and damage of valuable and fragile asset. Also, automotive, mining, and several other industries constantly rely on transportation to deliver and distribute bulk items which require tracking and recording of packaged products. Also, the increase in demand for smart transportation aided by the IoT application improvises the monitoring and navigating technology whereby boosting the video analytics market. This considerably augments the video surveillance and analytics market demand which is projected to increase at a CAGR of 11.3% through to 2025.
North America is dominating the global video surveillance and analytics market contributing a major regional share of 34.4% in the year 2018 owing to several promoting factors generating huge demand for the niche market. According to the Insurance Information Institute (III), approximately 773,139 motor vehicle theft incidences were recorded in the United States in 2017. This is indicative of the need for effective in-car CCTV camera deployment to a connected software surveillance technology monitored by the user in any device. Also, the air freight transportation industry accounted for a revenue of $87 billion, and around 70% of coal, 58% of raw metals, and 1.6 million carloads of agricultural products are transported by freight rail every year in the United States. This implicates the high demand for effective video surveillance and analytics solutions to monitor, track, and reduce any associated transportation damage caused to commercial goods. Additionally, the increasing emphasis on the construction of Smart America by collaborating use of sensor technology, IoT technology, and automation intelligent technology is likely to boost the video surveillance and analytics market growth opportunity and demand scopes in the North America.
Frequent Catastrophic Event Detection Through Video Analytics:
Fire catastrophes have swarmed higher concentration of public and private property surveillance to reduce the economic and life risks induced by these incidents. According to the III, nearly $31.186 billion was lost due to fire in the United States. This marks as an imperative cause to the deployment of video surveillance and analytic software technology for identifying indistinct features in the video and automatically detects smoke in the indicated area. Consequently, signaling the firefighting assistance in case of a fire emergency in the house or industrial locations. This, in turn, upheaves the demand for video surveillance and analytics market throughout the world thereby elevating the revenue generation.
Analyzing And Tracing Suspicious Movement In Public Spaces:
With rising globalization, construction of community centers, shopping malls, elite hotels, and healthcare infrastructure is also increasing across the globe significantly pushing forth a radical increase in the risk of man-made fatalities across this public places. Owing to this, several video surveillance is the most frequently deployed systems to restrict and analyze suspicious human activity. Also, academic institutions nowadays implement video surveillance and analytic algorithms for detecting suspicious student activities in examination hall which is aiding the construction of a healthy institutional atmosphere for the proper development of teenagers. The airport security authorities also undertake the assistance of this technology to monitor, track, and receive signal for any unrecognized objects in the airport facility whereby upheaving the video surveillance and analytics market growth in recent time.
Smart Places Deploying Video Surveillance And Analytics Technology:
The emergence of IoT and AI technology has considerably contributed to the construction of smart cities and nations all across the world. The deployment of a cloud-based user interface to run connected devices and systems using smartphones, sensors, and radio-frequency identification (RFID) technology is subsequently aiding the video surveillance and analytics market development. Embracing intelligent video solutions for theft and crime detection, commercial and industrial specifications, traffic and roadway improvements, tourism safety, and public transport monitoring to detect threat prediction and enhance the security services with adequate monitoring and tracking of suspicious activities. With real-time improvement and problem detection technique, smart and intelligent video surveillance and analytics market is likely to gain prominence in the future years.
Novel Innovations In The Video Surveillance And Analytics Market:
An imperative boost to the frictionless surveillance and video content analysis is the emergence of newer advancements to gather increasing customer interest to uplift the niche market revenue generations. IDEMIA, the global security and identity solution provider company, is set to introduce its Augmented Vision, a novel video analytic application, in the IFSEC 2019. Infused with the latest technology based on deep learning and biometrics solutions, this video and image analysis application is compatible to support the transport hubs, commercial buildings, stadiums, and gaming and entertainment sites. The Augmented Vision technology is claimed to tackle the growing security challenges experienced by end-user locations and will escalate the video and surveillance market demand in the future years. Furthermore, Hitachi Vantara also launched a novel Lumada Video Insights which credited to deliver IoT, AI, and video and analytics for smart spaces which will transform the usage of data-driven intelligence by government and commercial sectors for accomplishing greater productivity.
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Pioneering Companies And Their Contributions:
The global video surveillance and analytics market is augmenting with a positive prospect induced by the combined contributions of several key companies. Their R&D activities, massive investment, and innovative product launches uplift the niche market progressing prospect. The major players such as Cisco Systems, Microsoft, Oracle, Red Hat, Vmware, Citrix Systems, Evolve IP, Huawei, Ericom Software, and HPE are constantly thriving to elevate the global demand by delivering several customer-centric solutions.
Cisco Systems is a multinational technology provider company and a global leader providing various products and networking solutions to the different industries and corporate organization worldwide. With products and services such as Cisco Video Surveillance Manager, Cisco Video Surveillance IP Cameras, and others, it offers connected safety and security solutions for multi-uses in varied working spaces.
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