Video Content Analytics Market - COVID – 19 Overview by Share, Size, Industry Players, Revenue and Product Demand Till 2027
Market Scenario:
The global Video Content Analytics Market is predicted to touch USD 12.87 billion at a 21.71% CAGR between 2019- 2025 states the recent Market Research Future (MRFR) analysis. Video content analytics helps to extract structured information via the analysis of data stream/images from CCTV (closed-circuit television) cameras. The VCA technology utilizing algorithms offers real-time analysis of video footage together with instant detection of any event of interest. It has wide applications in logistics, commercial and transport, and government.
Various factors are propelling the global video content analytics market share. As per the current MRFR report, such factors include the rising application of VCA in video surveillance systems to ensure public safety, enhancement in business intelligence, the availability of automatically analysing videos to detect and determine various factors and increasing use in different end use industries such as safety and security, home automation, transport, healthcare, automotive, and others. Additional factors adding market growth include the use of various software like detection and recognition software with video content analytics technology, increasing use for security purposes that facilitates motion detection, facial recognition, intrusion detection, and others, increasing use in traffic management & government services.
On the flip side, low penetration of advanced technology and obsolescence of technology, and COVID-19 impact are factors that may limit the global video content analytics market growth over the forecast period.
COVID-19 Analysis:
The business impact of SARS-CoV-2 has been felt across diverse sections of the information technology industry, albeit at different levels. Companies in the technology sector that supply services for verticals like travel, retail, hospitality, and entertainment have noted a dramatic decrease in sales, while the firms that provide services related to remote worker solutions have observed the opposite. Video Content Analytics Market’s fate post pandemic has been relatively less grim compared to Education Services (ES) and Professional Services (PS) that are mostly dependent on components that are generally on-site. Novel coronavirus has Video Content Analytics Market to open new avenues for those firms that are on the lookout for solutions that are reliable, efficiently managed, scalable, and are subscription-based, to remain more focused on the core business. The Video Content Analytics Market is bearing lesser impact of the COVID-19 outbreak compared to most other segments of the tech world.
In a nutshell, COVID-19 impact on managed services has been fruitful, with the market growth enhanced than before. Given the prevalent lockdown situation, managed services vendors are now investing heavily in remote-centric worker solutions, which can make the market highly resilient in the coming years, even as the world is currently rushing to achieve a COVID-19 breakthrough.
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Competitive Outlook:
Leading players profiled in the global video content analytics market report include VCA Technology Ltd. (UK), Ipsotek Ltd (UK), HikVision Digital (China), MOBOTIX AG (Germany), Bosch Security (US), KiwiSecurity Software GmbH (Austria), Gorilla Technology Group (Taiwan), PureTech Systems Inc. (US), intuVision, Inc. (US), Intellivision (US), Verint (US), Genetec Inc. (Canada), Aventura Technologies, Inc. (US), Agent Video Intelligence Ltd (US), IBM Corporation (US), Honeywell International Inc. (US), Cisco Systems Inc. (US), Axis Communications (Sweden), and Avigilon Corporation (Canada). Industry players have incorporated several strategies to stay at the forefront and also cater to the consumers growing needs like acquisitions and mergers, new product launches, contracts, strategic alliances, geographic expansions, to name a few.
Segmentation:
The MRFR provides an inclusive segmental analysis of the global video content analytics market based on application, architecture, and software.
By software, the global video content analytics market is segmented into license plate recognition, recognition, detection, and others.
By architecture, the global video content analytics market is segmented into edge and server.
By application, the global video content analytics market is segmented into logistics, commercial and transport, and government.
Regional Analysis:
By region, the global video content analytics market report covers the recent trends and growth opportunities across North America, the Asia Pacific (APAC), Europe, & the Middle East and Africa (MEA). Of these, North America will have a major share in the market over the forecast period. Early technology adoption and the presence of key players are adding to the global video content analytics market growth in the region.
The global video content analytics market in Europe is predicted to hold the second-largest share over the forecast period. Rising use of IP based cameras and video analytics technology in European countries and growing use of cloud-based solutions are adding to the global video content analytics market growth in the region.
The global video content analytics market in the APAC region is predicted to grow at a fast pace over the forecast period. Growing government investments to provide better security and burgeoning demand for video content analytics solutions in enterprises are adding to the global video content analytics market growth in the region.
The global video content analytics market in the MEA is predicted to have sound growth over the forecast period.
Table of Contents:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
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List of Tables
Table1 Global Video Content Analytics Market, By Country, 2020-2027
Table2 North America: Video Content Analytics, By Country, 2020-2027
Table3 Europe: Video Content Analytics. By Country, 2020-2027
Continued…
List of Figures
FIGURE 1 Global Video Content Analytics Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis of The Global Video Content Analytics Market
Continued…
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