NEW YORK, July 12, 2016 /PRNewswire/ -- "Increasing security threats and need of intelligent surveillance is driving the video analytics market"
The video analytics market size is estimated to grow from USD 1.69 billion in 2016 to USD 4.23 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 20.2% from 2016 to 2021. The video analytics market is driven by factors such as increasing security threats and need for intelligent surveillance and increasing demand of video analytics for non-security purpose.
"The counting and crowd management application is expected to gain the maximum traction during the forecast period"
Counting and crowd management application is expected to grow at the highest rate during the forecast period as it helps the end-users to measure the flow of people at specific entry and exit points within a facility, door, or building in real-time or periodic reporting. Its management intelligently identifies the bottleneck area and alerts the personnel with the location in order to have maximum security. Thus, it enables the end-users to manage the crowd and analyze the behavior and other activities of people and vehicle in real-time from remote locations, and helps in improved decision making.
"Asia Pacific (APAC) is expected to grow at the highest rate during the forecast period"
The APAC region is expected to be the fastest growing region for the video analytics market during the forecast period. The region offers large number of potential growth opportunities due to the huge development going in the region such as commissioning of critical infrastructures, smart cities, and increasing business needs of organizations, thereby driving the adoption of video analytics software and services.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people.
The break-up of profiles of primary participants is given below:
• By Company Type: Tier 1: 21%, Tier 2: 30%, and Tier 3: 49%
• By Designation: C level: 35%, Director level: 20%, and Others: 45%
• By Region: North America: 47%, Europe: 26%, APAC: 16%, Rest of the World: 11%
The various key video analytics vendors profiled in the report are as follows:
1. Avigilon Corporation (Vancouver, Canada)
2. Axis Communication (Lund, Sweden)
3. Cisco Systems (San Jose, California, U.S.)
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