According to the latest research report, the analysts predict that over the evaluation period, the global video content analytics market size will increase from USD 3.34 billion in the year 2018 to USD 34.23 billion by the end of the year 2030, growing at a compound annual growth rate of 20.50 percent. Fire and smoke identification, protection, and security are just a few of the applications for video content analytics (VCA), a VDO analysis capacity extensively utilized in the defense sector for improved spatial awareness. VCA has a wide range of applications in various industries, including corporate, domestic, commercial, infrastructural, and educational institutions.
A wide range of advanced video analytics tools, including close to accurate and investigative video analysis, center console visualization, and clip investigations, assist law enforcement and other security staff in keeping formal and informal amenities secure by providing actionable data from media content in realtime. The integrated solution improves the capacity of these organizations to safeguard lives and property in rural and urban areas and vital infrastructure such as dams, power stations, petroleum refineries, and transport networks, among other things. A major driving force behind market development is the benefits rendered by the VCA technology.
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The market is segmented based on type, deployment, architecture, application, vertical, and geographical areas. The global Video content analytics market trends are expected to witness decent growth during the forecast period.
The market is segmented into intrusion management, incident detection, automated number plate identification, traffic monitoring, face recognition, crowd control, and others based on the application.
Based on the propulsion types, the market is segmented into Retail, BFSI, healthcare, transport & logistics, government, hotel & leisure, industrial, and others.
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According to the reports, the industry is fragmented into four regions: the Americas, Europe, Asia Pacific, and the rest of the world. North America is expected to maintain its dominant leadership in the international video content analytics market share during the projected period. Consequently, it has a greater adoption rate of surveillance cameras hardware and video content analysis services than the other areas. Another factor contributing to the market’s growth is the existence of significant players focused on improving the capabilities of VCA solutions. These companies are Avigilon Corporation, Cisco Systems, and others like Honeywell, IBM, and Genetec.
Some of the prominent market players about the video content analytics market are mentioned as follows:
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Increasing use of cloud computing and video content analytics and different strategic alliances and expenditures among companies in the region is anticipated to propel the market’s development. The United States dominates the market in the region, providing for a substantial part of total revenue, owing primarily to the involvement of multiple technology suppliers. The video content analytics industry in the United States in North America is expected to expand substantially during the study period.
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