The Combined Global Market for Network Camera & Video Analytics Software is Projected to Reach US$11.6 Billion by 2020

The Sweeping Wave of IP Connectivity Spurs Demand for Network Camera & Video Analytics Software, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Network Camera & Video Analytics Software market. The combined global market for Network Camera & Video Analytics Software is projected to reach US$11.6 billion by 2020, driven by the sweeping wave of IP connectivity and Internet of Things.   

The security and surveillance industry is going beyond analog video capture to IP connectivity. The convergence of information technology with physical security is emerging into a game changing trend in the market. IP based security systems and infrastructure are seen as transformative in characteristics with potential to create massive economic value in terms reduced costs, increased profits and creation of new market opportunities. Disruptive benefits of IP Video Surveillance include improved security performance and safety at lower costs, unlimited scalability with minimal additional investments, versatility & flexibility in system configuration to meet customized needs, ability to conduct advanced analytics & better interpret image data, easily upgradable and effective future proofing of original investments, and increased Return on Investment (ROI) and lower Total Cost of Ownership (TCO). Given its ability to enhance the efficiency of traditional video surveillance by reducing human intervention, eliminating the clutter of wiring, reducing costs and enabling remote surveillance, IP/Network video surveillance system deployments are growing in number. Increased adoption of open standards such as PSIA and ONVIF is also helping spur the growth momentum for network cameras & video analytics software. Key benefits of Network Video Surveillance Systems driving its adoption include ability to capture high resolution videos, simplify analysis of surveillance videos, provide most accurate results and thereby serve the very purpose of surveillance.   

Major factors spurring demand for network cameras and video analytics in security applications include growing concerns over safety and security to life & assets, rising number of terrorist attacks, high public perception of crime, rapid urbanization and ensuing rise in public safety requirements. While security applications in the government and private sector dominate the market, future growth is forecast to come from non-security applications. Few of the non-security applications growing in popularity include visual communications, patient monitoring in healthcare settings, monitoring manufacturing processes for quality control, remote monitoring in the retail sector to ensure quality of service and to generate consumer behavioral data, and live streaming of events over the Internet, among others. Especially benefiting the market is the growing trend of steaming live events (i.e. music concerts, sports events, theater performance etc.) over the Internet. The trend is growing in importance for its ability to drive traffic to websites, thus enabling web attraction. Increased use of robots on production floors is resulting in greater use of network cameras for real-time remote monitoring of assembly line activity. Industries, particularly those operating in hazardous environments like chemical plants, glass factories, and other process industries are also deploying network cameras and video analytics for ensuring occupational safety where they can help in identifying potentially hazardous deviations from normal operating environment, such as, leakage of harmful effluents due to equipment or structural failure  

As stated by the new market research report on Network Camera and Video Analytics Software, the United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 28.5% over the analysis period. The growth in the region is supported by steady economic development, rise in foreign direct investments in the business and manufacturing sectors and the resulting increase in new business and plant establishment. While the government sector represents the largest end-use market for IP/network cameras and video analytics software, the retail industry ranks as the fastest growing market.

Key players covered in the report include ADT Security Services, Agent Video Intelligence, Avigilon Corporation, Axis Communications AB, BASLER AG, Bosch Security Systems, Canon, Inc., Cisco Systems, Inc., DIGIOP, Inc., Exacq Technologies, Genetec Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Honeywell International Inc., IC Realtime, LLC, March Networks, Milestone Systems A/S, MOBOTIX AG, ObjectVideo, Inc., Panasonic Corporation, Pelco Inc., Samsung Techwin Co. Ltd., SightLogix Inc., Speco Technologies, Verint Systems Inc., Viasys Intelligent Video Analytics, and VIVOTEK Inc., Among others.

The research report titled “Network Camera and Video Analytics Software: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, product innovations and strategic industry activities of major companies worldwide. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil & Rest of Latin America), and Rest of World. The report also analyzes the market by product segments - IP Cameras and Video Analytics Software, by application segments - Security/Surveillance and Others (Entertainment, and Visual Communications among Others), and by End-Use Industries - Banking & Financial, Government, Retail, Transportation and Others (Commercial/Office Buildings, Educational Campuses, Entertainment, Healthcare, Industrial, Sports Arenas, and Residential sector among Others).

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