The global intelligent video analytics market to grow at a CAGR of 30.52% during the period 2017-2021
Global Intelligent Video Analytics Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is rising trend of smart cities.
Smart cities ensure sustainable and efficient environments within buildings. An increasing number of developed and developing countries have smart cities that offer energy efficiency and improved security. The buildings in these cities use numerous technologies to optimize the use of energy resources. These technologies interconnect buildings and the grid with the help of ICT-based devices and networks.
In addition, edge-based IVA will replace the existing cameras with high-end smart cameras that have sophisticated analytical features. The limited processing power of these devices improves the efficiency and performance of IVA solutions.
According to the report, one of the major drivers for this market is increasing demand for reduced workforce. A large workforce is required for the analysis of data gathered from numerous cameras. However, the IVA technology requires a limited workforce for data analysis. IVA-enabled cameras automatically examine videos pixels, thereby reducing human intervention. Video analytics reduces human errors and provide accurate data analysis. The increasing demand for a reduced workforce drives the demand for the IVA technology.
Further, the report states that one of the major factors hindering the growth of this market is high costs associated with installation and maintenance. The high cost of deploying the on-premises IVA software poses a challenge to the market. The price of the IVA software solutions includes the cost of system design and customization, implementation, training, and maintenance. The technology requires a skilled workforce for the successful implementation. Software updates increase the running cost, which adversely affects the demand for the technology.
- Agent Video Intelligence (Agent VI)
- Bosch Security Systems
- Honeywell Security (subsidiary of Honeywell International)
Other Prominent Vendors
- Aventura Technologies
- Global Networks
- i2v System
- Keymaster Physical Security & Access Control
- NICE Systems
- ObjectVideo Labs
- Viseum International