(PRWEB) October 22, 2012
According to a new market research report “Network Camera and Video Analytics Market - Global Forecast, Trend & Analysis – Segmentation by Technology, Function, Resolution, Product & Service Type, System Architecture, Verticals, Application and Geography (2012 - 2017)” published by MarketsandMarkets (http://www.marketsandmarkets.com), the network camera and video analytics market, on the whole, is expected to reach $5,760.27 million by 2017, at a CAGR of 22.4% from 2012 to 2017.
Browse 89 tables with 28 figures spread through 277 pages in-depth TOC on “Network Camera and Video Analytics Market - Global Forecast, Trend & Analysis – Segmentation by Technology, Function, Resolution, Product & Service Type, System Architecture, Verticals, Application and Geography (2012 - 2017)”.
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The global video surveillance market has changed dramatically over the years. The need for intelligent security systems, increasing terrorist strikes, dwelling infrastructure, and rising criminal activities has fueled the demand for reliable and intelligent security systems. The trends in video surveillance market is rapidly changing from analog to digital systems, standalone solutions to networked implementation and growing array of complex video analytics. The advantages of surveillance systems over physical security such as the ability to allow remote monitoring have resulted in wide deployment across the world.
Network camera and video analytics are only two components of video surveillance system that are growing faster than the overall video surveillance market. The potential to boost efficiency levels of video surveillance, facilitate reduction of human intervention, and achieve related cost savings is encouraging the adoption of these two products.
The key factors driving the network camera market are the need for high resolution; reduction of total cost of ownership (TCO) backed by government investments and increasing demand from non security applications. On the other side, the network camera market growth is hammered by factors like high bandwidth requirements of network camera and lack of data privacy. Embedding the edge-based video analytics in network camera could add a competitive advantage to network camera manufacturers. The global network camera market is estimated to be worth $1.85 billion in 2012 and expected to reach $4.5 billion in 2017 at a CAGR of 19.5% from 2012 to 2017.
The global network camera market is evenly distributed across various geographies. As of 2011, Americas led the suppliers segment with share of 30% in the year 2011. However, APAC is expected to grow at a relatively higher CAGR during the projected period.
The key factors driving the video analytics market are the transition of video surveillance system from analog to network (digital), emergence of open standards, and increase in the efficiency of video surveillance system; while the video analytics complexity, clubbed with higher cost of maintenance of analytics and occurrence of false alarm are key inhibitors of video analytics market. Video analytics market’s non security application like entertainment & visual communication are considered as lucrative market. The global video analytics market is estimated to be worth $250 million in 2012 and expected to reach $1,260.27 million in 2017 at a CAGR of 38.6% from 2012 to 2017.
The video analytics market is expected to be led by Americas during the projected period. However, APAC is observed to grow at the highest rate. This is primarily due to the growth of technology, increasing awareness about network video surveillance.
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