The business landscape of the global video analytics market is heavily fragmented due to the presence of a large pool of players operational in it, finds a new research study by Transparency Market research (TMR). Currently, the market is led by Genetec Inc., VCA Technology Ltd., vigilon Corp., IntelliVision, and United Technologies Corp. The dominance of these established players is being severely challenged by the increasing number of local players, who offer cost-efficient video analytics services to consumers, which are getting quite popular among masses
“The demand for video analytics solutions is significantly boosted by the rising installation of IP cameras and the increasing need for technically advanced high definition cameras, equipped with superior video quality,” says a TMR analyst. With video analytics solutions, monitoring and analyzing of video feeds in real time is not required, as they provide real-time insights with alarm notifications of automated events.
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Nowadays, a number of end-use industries, which require an efficient and cost-effective real-time monitoring system, are deploying video analytics technology at an exceptionally high rate. This, as a result, is anticipated to support the worldwide market for video analytics remarkably in the years to come, reports the research study.