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(I-SoftwareNews.Com, March 22, 2018 ) According to Publisher’s analyst, the global video analytics market is anticipated to grow rapidly and will post a CAGR of close to 34% during the forecast period. The rising demand for improved security arrangements will drive the growth prospects for the global video analytics market until the end of 2021. It has been observed that the number of terrorist attacks, frequency, and intensity of security breaches is increasing at a high rate including incidences of robbery, theft, and shoplifting. As a result, the government in various countries such as the US and the UK have imposed stringent regulations to control anti-social activities, which, in turn, drives the rate of adoption of video analytics solutions in the market. Also, the market is witnessing a high demand for the installation of video surveillance cameras in public places like hypermarkets, hospitals, airports, railway stations, hotels, and shopping malls across the globe. Furthermore, video analytics-enabled cameras have the capability to automatically report suspicious events and provide real-time alerts and forensic tools for staffed and unstaffed camera video surveillance options.
The increasing adoption of SaaS-based video analytics will drive the growth prospects for the global video analytics market for the next four years. One of the major factors responsible for the growing adoption of SaaS-based intelligent video analytics is the associated lower cost in comparison with on-premises video analytics.
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Competitive landscape and key vendors
The global video analytics market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. In addition, a large number of leading video surveillance vendors, video analytics vendors, and core analytics vendors are increasingly focusing on mergers and acquisitions strategies to expand their business on a global level and increase their reach to customers.
Key vendors in this market are -
Axis Communications
Bosch Security Systems
Cisco Systems
IBM
Honeywell
Other prominent vendors in the market include Agent Video Intelligence, Infinova, IntelliVision Technologies, NICE Systems, ObjectVideo, and Verint Systems.
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Segmentation by type and analysis of the Video Analytics market
Government sector
Commercial sector
Banking and financial services
Traffic management sector
Residential sector
The global video analytics market by the government sector accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. Some of the major factors responsible for the growing use of video analytic technology in the government sector is its ability to manage data collection, analyze the collected data efficiently to improve and enhance the security of government and military facilities and increase the situational awareness in premises. In addition, these systems integrate and optimize all resources and results by collecting, collating, filtering, and processing all types of input.
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Source: EmailWire.Com 
Source: EmailWire.com
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