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Video Analytics Market Outlook 2023: Top Companies, Trends and Future Prospects Details for Business Development By Zaraki Kenpachi - August 10, 2021
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The global video analytics market is eminently competitive and highly fragmented due to the presence of many global leaders and small scale leaders, says an approaching Transparency Market Research (TMR) report. Some of the global players in the market include Vigilon Corp, VCA Technology Ltd., Genetec Inc., IntelliVision, United Technologies Corp. These players are focusing on providing innovative product line at a better price. They are also adopting new strategies such as mergers and acquisitions, and collaborations to capture the competitive edge in the global video analytics market. Increasing concern over security at commercial places is likely to boost the global video analytics market during the forecast period. The global video analytics market is projected to grow at a grand rate of CAGR 20.60% over a period 2015 and 2023. The global video analytics market was estimated at US$ 1.7 bn and it is anticipated to be valued at US$ 9.15 bn by the end of 2023. In terms of geography, the global video analytics market is expected to be the dominant region during the forecast period. The growth can be attributed to growing investment of research and development activities and presence of several players in the region. Asia Pacific is also expected to emerge a strong region in the upcoming years. The growth in the Asia Pacific region is due to increasing support and contribution from India, China, Australia, and South Korea. On the basis op application the global video analytics market is segmented into people recognition, video indexing, license plate recognition, incident detection, object recognition, and others. Of these, the global video analytics market is predicted to be dominated by the people recognition application segment. Get PDF brochure for Industrial Insights and business Intelligence @ https://www.transparencymarketresearch.com/sample/sample.php?