US Video Analytics Market to 2027, Future Outlook, COVID-19 Impact Analysis, Forecast 2021-2027

 

US video analytics market is estimated to grow signifcantly at a CAGR of around 27.3% during the forecast period. The US is contributing significantly to the growth of the North American video analytics market owing to the demand for technologically enhanced public safety infrastructure and increasing demand for business intelligence. Agencies across the federal government have started a variety of R&D efforts for the creation of new analytic technologies to make their video data more accessible, to make their video management systems more efficient, effective, and useable, and to explore new uses of video to advance science, enhance health and quality of life, and keep the public safe, secure, and well-informed. Video surveillance laws continue to grow in this region. Video analytics in the U.S. is growing partially in response to the 9/11 attack. Every organization, hotels, households, industries are installing CCTV with embedded video analytics software.

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There is wide use of automatic number plate recognition system (ANPR) in the US law enforcement agencies and government. According to Police Forum Organization, approximately 71% of the US police use ANPR to improve traffic management across the region. Further, ANPR is also used by municipal agencies for the recovery of stolen vehicles identification of wanted felons, and revenue collection. With the implementation of video analytics technology, many US states now issued fine up to $500 when a license plate is identified as expired or on the incorrect vehicle. At that moment, there cognized plates are matched with the existing databases including gang member, wanted person, a missing person, known and suspected terrorist and national sex offender lists.

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The companies which are contributing to the growth of the US video analytics market include Bosch Security Systems, Inc., Cisco Systems, Inc., Aventura Technologies, Inc., Honeywell International Inc., and IBM Corp. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market.

US Video Analytics Market- Segmentation

By Deployment Type

·        Cloud-based

·        On-Premises

By Application

·        Banking, Financial Services, and Insurance (BFSI)

·        Healthcare

·        Retail

·        Government & Defense

·        Traffic Management

·        Others (Surveillance)

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Company Profiles

·        Alarm.com Inc.

·        Aventura Technologies, Inc.

·        Bosch Security Systems, Inc.

·        BriefCam Ltd.

·        Canon Inc.

·        CheckVideo, LLC

·        Cisco Systems, Inc.

·        Honeywell International Inc.

·        IBM Corp.

·        Identiv, Inc.

·        IntelliVision (Nortek Security & Control LLC)

·        ObjectVideo, Inc.

·        SightLogix, Inc.

·        Sony Corp.

·        The Infinova Group

·        United Technologies Corp.

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