Intelligent Video Analytics Market Growth & Trends Analysis
The global intelligent video analytics market Is projected to reach USD 7.72 billion Market by 2027 growing at a CAGR of 22.5% over the forecast period as per UpGraph Research, .
The video analytics is highly useful to observe temporary moments, enclosed spaces, for instance, for observing suspicious individuals in a crowd, for identifying a vehicle that just broke the traffic rules, a road accident, or a fire situation detected through the smoke coming from home using nearby CCTV cameras.
At one point, video analytics is considered primarily limited to indoor applications because variable lighting and outdoor motion were too difficult. Choosing and installing the right equipment now allows video analytics to be successful in unregulated outdoor environments.
Some of the highly required features have been recently introduced in intelligent video analytics including crowd counter, vehicle license plate recognition, smart parking assistance, and real-time facial recognition.
The prices of CCTV camera has decreased substantially whereas the picture quality is highly improved in the last few years, owing to the enhancement in the computational capacity, improved camera resolution, and better computer vision algorithm. Few key factors driving the IVA market growth are increasing demand for indoor and outdoor safety & security, steep fall in prices of hardware, and availability of upgraded and advanced models in the market.
With developments in body cameras, drones, and robots, video capture and analytics technologies are only growing today. Much of the client’s Petabytes are now generating raw video data, with corresponding increases in their computational needs and network bandwidth. Newer video clip Devices contain additional sensors to provide temperature, humidity, and other data feeds, which are useful to the system data processing and analytics requirements.
As per the new evolution of high-resolution video (4k, 8k) enables more sophisticated and precise video analytics. Higher resolution video allows more precise analysis and detection of objects in crowds, real-time rule-based warnings to be activated when certain conditions are met, video search and filtering, and video metadata intelligence. Cloud-based video analytics is a development that has often been addressed, but as yet there has been no major market penetration. However, this industry – among other tech solutions – is still moving in this direction, as cloud applications provide ease of deployment and low entry costs. With advances in cloud growth, cloud platforms in general now boast robust cybersecurity.
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Market by component, 2017-2027 USD million
Market by deployment type, 2017-2027 USD million
Market by application, 2017-2027 USD million
- intrusion management
- Traffic monitoring
- incident detection
- facial recognition
- crowd counting
Market by region, 2017-2027, USD million
- North America
- United States
- United Kingdom
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of the world