Adoption of the video content analytics ( VCA )technology across the world along with the market trends
Security and surveillance are now part of our daily lives increasingly influenced by the digital economy.
One can then observe that video surveillance industry
is transforming from legacy system to smarter and advanced IP/network cameras,
and video content analytics (VCA) is becoming mainstream with more specific
end-use verticals such as casinos, gaming, and transport among others.
The integration of video
content analytics technology with surveillance system dramatically improved its
effectiveness by converting simple pieces of information into actionable
insights by the means of real time analysis.
The application of the VCA
technology in various software systems include: facial recognition, automatic
number plate recognition, and, motion detection among others. In fact, the VCA technology proves to be very advantageous when incorporated with various software like recognition software or detection software by adding value to safety, operations and security.
According to Research and Markets, this factor has driven
the market to a great extent to utilize the software for purposes such as motion
detection, intrusion detection, facial recognition, and traffic management
among others. Detection holds the largest market share due to its wide range of
application in both governmental as well as nongovernmental application.
DigitalEcono can also observe that, North America
holds the biggest market share with a total revenue generation of over $350
million in 2015 followed by Europe and Asia Pacific (APAC). The growth of VCA
market in North America is primarily attributed to the presence of market
leaders in the region and the increased government spending on the homeland security.
Key industry players include:
Avigilon Corporation, Cisco, Hikvision, and Agent Vi among others.