Video analytics has the ability to reduce the huge amount of data available in the video, thus making it more controllable. The benefits of video analytics include reduced load on network and storage demand, easy and fast retrieval of stored video, and productive use of manpower, among others. Moreover, in case of any abnormal activity, the system raises an alarm to alert the concerned officials. Additionally, with the advantage of analyzing live as well as recorded data, the need for reviewing the recorded data by a human operator, which is a quite expensive resource, has been eliminated. These features, along with the numerous technological advancements, such as facial recognition and automatic license plate recognition, make the video surveillance cameras appropriate for application in different verticals, especially in the current scenario. Therefore, with the help of VSaaS, and video analytics, the time and monetary benefits can be availed by the installer. Bosch Security Systems and Honeywell are some of the major market players providing video analytics-based solutions. Below are some instances which highlight the demand for VCA and VSaaS.
The video surveillance market has been witnessing a rapid transition from analog-based surveillance systems to digital or networked systems. In digital surveillance, the use of higher resolution cameras for high definition images implies better and more detailed video evidence. However, large and detailed images require appropriate technical solutions to efficiently store the videos which must be accessible as and when required. In this section, the presently available storage technologies and their impact on a surveillance system design have been discussed. Various players, including VMware, Microsoft, and Xen, are providing constant support for using storage area networks (SANs), direct-attached storage (DAS), and network-attached storage (NAS), which in turn foster the growth of the market. Further, many industries are expanding into businesses to cover many applications, including business intelligence, enterprise resource planning, supply chain reengineering, and customer relationship management. Such expansion requires reliable storage systems which able to protect and manage critical information. Thus, it is expected to create a large demand for IT solution providers to offer enhance storage services for efficient work of these businesses.
One of the major factors that has led to the increasing adoption of these video surveillance systems has been the rise of IP camera-based solutions. This can be attributed to the fact that it allows the users to convert their local broadband connection into a home surveillance system. These cameras provide several benefits compared to traditional analog cameras, such as low cost and high durability. Further, IP cameras provide high-resolution images and wide-angle video capturing feature and also allows authorized access to live and recorded video footage on smartphones and tablets. One of the major benefits of using IP surveillance systems has been cloud storage, which makes the video surveillance system more effective. With the rise of built-in wireless connection, the IP cameras have become subtle and discreet, avoiding unnecessary attention. Since these cameras run on Wi-Fi signals, the problem of interference or loss of network in the transmission wires has been eliminated.
Increasing competitive advantages of video surveillance over conventional physical surveillance techniques have made video surveillance an essential system for homeland security and commercial applications. Factors such as low operation cost, rapid deployment, and large coverage area of surveillance cameras have led to an increase in its adoption in defense and infrastructure sectors. Moreover, do-it-yourself (DIY) methods of video surveillance has facilitated the wider adoption of video surveillance systems by the homeowners. Additionally, the growing coverage of Internet of Things (IoT) ecosystem enables the consumer to monitor the video footage of his/her house/object over the virtual network through gadgets.
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The cloud-based analytics offers intelligent video services without the need for additional hardware or licensing fees. The data coming from different locations through a single web-based interface is analyzed at one place. Since analog cameras work with digital video recorder (DVR) storage technology, they cannot highlight any event. In case of a crime detection event, it might take a longer period of time to play or analyze the full video. However, an IP system with video analytics can highlight or flag events with functions such as motion detection, camera tampering, and a range of other events.
The global video analytics market size is expected to reach USD 9.4 billion by 2025, according to a new study by Grand View Research, Inc., registering a 22.8% CAGR over the forecast period.
Increasing demand for intelligent security surveillance systems, which can be used for estimating key trends and deriving patterns, is the key factor driving market growth.
In addition, increasing concerns over public safety and use of video analytics in criminal investigations are positively impacting demand for video analytics solutions.Apart from surveillance, video analytics solutions have also found increasing application in the retail sector for estimating average footfall, gender bifurcation, display effectiveness, and attractiveness of shelf space.
Furthermore, superstores and mega marts have started implementing these systems to gain insight into consumer behavior.Use of advanced algorithm technology in video analytics enables examination of captured videos frame by frame, irrespective of light exposure, thereby making video analytics a reliable and efficient choice for ensuring security.
Furthermore, industries such as transportation, retail, and healthcare are witnessing significant increase in the adoption of video analytics, owing to rising application of intrusion detection, license plate recognition, crowd management, and congestion detection in these industries.Request a Sample Copy of the Global Video Analytics Market Research Report @ www.grandviewresearch.com/industry-analysis/video-analytics-market/request/rs1Further key findings from the study suggest:Facial recognition is expected to emerge as the fastest growing application segment with a CAGR of 25.9% from 2017 to 2025.
This can be attributed to widening scope of facial recognition solutions for surveillance purposes at malls, events, airports, and public transport, among othersBy type, the services segment is projected to register the highest CAGR of 24.0% for the next eight years.
According to the new market research report "Video Surveillance as a Service Market by Type (Hosted, Managed, Hybrid), Vertical (Commercial, Infrastructure, Military & Defense, Residential, Institutional, Industrial), and Geography - Global Forecast to 2022", The Video Surveillance as a Service Market (VSaaS) market is expected to be valued at USD 5.93 Billion by 2022, at a CAGR of 22.0% between 2017 and 2022The factors driving the growth of the market include increasing demand for real-time and remote access for video surveillance data, low initial investment required to avail VSaaS services, and flexible scalability offered by VSaaS.
Speak to our analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=773 Hybrid VSaaS market expected to witness the highest growth rate during the forecast period Hybrid VSaaS offers enhanced security for surveillance data by storing at customers’ end as well as in the cloud at the service provider’s end.
Apart from data security, hybrid VsaaS offers real-time data access, remote surveillance, flexible scalability in data storage, ease of adding new cameras, and so on, which helps hybrid VSaaS to become more common among end users such as banks and financial institutes, retail stores, enterprises, among others, who demand more data security.
Moreover, presence of several system providers and availability of low cost systems, and increasing adoption of consumer devices such as mobiles, tablets, and laptops are some of the important parameters which spur the growth of the VSaaS market in APAC.Major players in the Video Surveillance as a Service market include Axis Communications AB (Sweden), Honeywell International Inc. (US), Genetec Inc. (Canada), Brivo (US), Cameramanager (Netherlands), ADT Security Services (US), Cloudastructure Inc. (US), Duranc (US), Ivideon (US), NeoVSP (Israel), Nest Labs, Inc. (US), Pacific Controls (UAE), and Smartvue Corporation (US).
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The increase in the budget for procuring advanced video surveillance systems by various countries including the U.S., India, Russia, Israel, China, Singapore, South Korea, and among others, for procuring technically advanced video surveillance systems to track the individuals’ quarantine activity is playing a major role in strengthening the market growth.Read Report Overview: https://bisresearch.com/industry-report/global-video-surveillance-market.htmlStringent regulations posed by various governments to install video surveillance systems in educational institutes is expected to propel the market growth.
For instance, in June 2015, the U.S. government passed a law in Texas to mandate the deployment of video surveillance units in special education classrooms including all public schools and self-contained classrooms.
For instance, in May 2020, Konica Minolta Business Solutions U.S.A., Inc. received a contract from the Ohio Council of Educational Purchasing Consortia (OCEPC) to provide MOBOTIX Intelligent Camera Solutions to higher education institutions, local government agencies, and other public entities of Ohio to ensure safety and security.With the video surveillance industry undergoing a paradigm shift, the use of Internet Protocol (IP) technology-based cameras using IoT has increased, resulting in transforming of the surveillance industry.
The data coming from different locations through a single web-based interface is analyzed at one place.
Since analog cameras work with digital video recorder (DVR) storage technology, they cannot highlight any event.
However, an IP system with video analytics can highlight or flag events with functions such as motion detection, camera tampering, and a range of other events.For Sample Report, Click here: https://bisresearch.com/requestsample?id=935=downloadWith the increasing adoption of video surveillance systems for various applications such as infrastructure security, business intelligence, and preserving law and order, the dependence on these surveillance systems has gradually increased.
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