World News: 14:00 GMT Wednesday 12th June 2019. [Allied Market Research via Globe Newswire via SPi World News]
Portland, June 12, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
Video surveillance produces a large volume of video data in city surveillance, industries, and through social media and sites. This requires a huge amount of storage space to save all the data and retrieve it back whenever needed. Video analytics is an automatic analysis and computerized processing of the video content collected, generated, or monitored during video surveillance. Video surveillance process is automated through video analytics by delivering high-end benefits to the users with reduced cost and efficient service delivery.
The video analytics market is driven by increasing demand for IP-based security systems, growing concern over public safety & security, and increasing volume of unstructured video data. On the other hand, the high cost of initial installment and an increase in the number of false alarms during bad weather or poor lighting conditions hamper the growth of the market. However, increase in need of edge-based analytics and recognizing & profiling applications, and rise in requirement of business intelligence and insights are the major factors expected to provide opportunities for the market growth.
Software segment dominated the overall video analytics market share in 2017. Based on the component, this segment is expected to remain dominating during the forecast period. However, the service segment is estimated to exhibit significant growth rate due to the increase in adoption of digital technologies across different industries and need to provide enhanced and better services.
The cloud segment is expected to exhibit significant growth rate in the global video analytics market. This is due to less maintenance cost, ease of use, and low investment. The large enterprise's segment contributed the highest revenue for the global video analytics market share in 2017. This was due to rise in awareness of security events and an increase in need to safeguard data.
The key players included in the are Quognify, AllGoVision Technologies Pvt. Ltd, Verint Systems, Inc., Aventura Technologies, Inc., PureTech Systems, Inc., Axis Communications AB, IBM Corporation, Intellivision, Cisco Systems, Inc., and Honeywell International, Inc.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Globe Newswire: 14:00 GMT Wednesday 12th June 2019
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