“The video analytics solutions are widely being adopted by businesses across a broad spectrum of end users, such as residential security, commercial & industrial security, urban security & public safety, critical infrastructure protection, airport & maritime security, retail industry, entertainment & casinos, defense intelligence & border security, transportation & logistics, and others.
With the rising acknowledgement to video analytics, the software applications, hardware and services is fast gaining momentum in the market. This has in turn benefited the video analytics software providers, video analytics hardware sellers, and as well as emerging cloud-based video analytics service vendors to leverage and expand their provisions in this market. Considering this, the video analytics offerings has also been chiefly accountable for increasing the average revenues for these stakeholders in the video analytics ecosystem. Thus, these augmentations have also observed the rise in video analytics market.
The complete video analytics market analysis evaluates various types, end users, applications, and regions of the video analytics market. The overall market size is found by adding up the individual market sizes of all the applications including intrusion management, crowd management, situation induction, license plate recognition, pattern recognition, and other applications.
The video analytics solution is currently offered by numerous vendors such as IBM, Cisco, Axis Communications, Honeywell, Avigilon, and others. These vendors are selling variations of video analytics applications and managed services. The applications offered by these vendors are either licensed based or directly embedded into the cameras.
Nowadays, the major issue retraining the growth of the video analytics market is the cost of the solution and the privacy issues associated to it. Thus, the video analytics vendors as well as resellers and systems integrators are working together to make sure...