The global video analytics market to grow at a CAGR of 33.73% during the period 2017-2021.
The report, Global 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 growing preferences for IP cameras over analog cameras. Internet protocol (IP)-based cameras combine capabilities of analog cameras with PC functionality. It does not require a direct connection to a PC to operate and can be placed anywhere within a network. IP cameras have their own IP addresses and can be accessed or controlled through any IP network like a WAN, LAN, Intranet, or the Internet. Thus, the adoption of IP cameras is likely to increase during the forecast period.
According to the report, one of the major drivers for this market is enhanced processing power of collected data. The integration of the video analytics technology with surveillance cameras helps to increase the processing power of the collected data. Arrays and algorithms used during the integration enable users to add filters and setting based on the location where it is being installed. In addition, video analytics-enabled surveillance cameras can also be controlled through apps, which make them efficient and applicable for smart buildings.