Video Analytics Market (Solutions & Services) to Soar at 20.2% CAGR to 2021 Led by North America

PUNE, India, June 30, 2016 /PRNewswire/ --

The global video analytics market size is forecast to hit $4.23 billion by 2021, at a CAGR of 20.2% from 2016 to 2021 driven by factors such as increasing security threats and need for intelligent surveillance and increasing demand of video analytics for non-security purpose.

Complete report on global video analytics market spread across 182 pages, profiling 10 companies and supported with 80 tables and 62 figures is now available at http://www.rnrmarketresearch.com/video-analytics-market-by-type-hardware-video-analytics-software-and-services-applications-intrusion-management-crowd-management-situation-indication-license-plate-recognition-pattern-recognition-global-forecast-to-2020-market-report.html .

Counting and crowd management application is expected to grow at the highest rate during the forecast period as it helps the end-users to measure the flow of people at specific entry and exit points within a facility, door, or building in real-time or periodic reporting. Its management intelligently identifies the bottleneck area and alerts the personnel with the location in order to have maximum security .Thus, it enables the end-users to manage the crowd and analyze the behavior and other activities of people and vehicle in real-time from remote locations, and helps in improved decision making.

North America is expected to hold the largest market share and dominate the video analytics market from 2016 to 2021 due to the huge adoption of video surveillance systems and replacement of conventional video surveillance systems for enhancing the safety and security of critical assets in the U.S. APAC is expected to be the fastest-growing region in the global video analytics market. The key reasons for the high growth rate in this region are the increasing adoption of new technologies such as cloud, analytics, and more, along with the development of large number of critical assets and commissioning of smart city projects in countries such as India, China, Singapore, and others.

The APAC region is expected to be the fastest growing region for the video analytics market during the forecast period. The region offers large number of potential growth opportunities due to the huge development going in the region such as commissioning of critical infrastructures, smart cities, and increasing business needs of organizations, thereby driving the adoption of video analytics software and services.