February 12, 2016 12:00 am | Updated 2 years ago.
Technavio, a pioneer in global technology research, predicts that the global intelligent video analytics market is all set to touch the dollar two billion marks by 2020.The two important players leading the market is IBM and Cisco.
The US has been dominating the global intelligent video analytics market in the year 2015; with total business hovering around $ 250 million. It is predicted that business in the US will touch dollar 980 million by 2020, a compounded annual growth rate of over 31%.
The surge in the usage of smartphone and tablets, a large amount of unorganized video data and an assimilation of business intelligence tool with video analytics solution is fostering this growth. Smartphones and tablets are regularly being used to watch video clips and also to upload videos to social networking sites. Security concerns are another factor which is prompting organizations, both public and private to adopt intelligent analytics solutions.
Date of Publication: February 10, 2016