The intelligent video surveillance, video content analysis and video analytics industry will begin growing during 2013 and by 2020 annual sales will reach $39 billion, says a report by Homeland Security Research Corp., a market research and consulting firm serving the homeland security community.
The report—Intelligent Video Surveillance, VCA & Video Analytics: Technologies & Global Market – 2013-2020—says following three decades of slow market penetration and disappointing performance, growth in the intelligent video surveillance, VCA and video analytics industry will be driven by several factors. Those factors are:
- Increased use of video surveillance.
- Migration from analog to digital cameras and to Internet protocol based cameras.
- Technological maturity caused by a decade of evolution of video analytics algorithms, processors, applications and products to where advancements in image processing enable intelligent video processing.
- The cost reductions associated with video analytic systems driven by the falling prices of image-processing digital signal processing and communication systems.
- The cost-performance of new edge-based video analytics DSP technologies.
- The high cost of employing human operators, who, because of fatigue and boredom, are expected to overlook events.
In addition, 165 million video surveillance cameras currently deployed worldwide have captured 1.4 trillion hours of surveillance video, according to the report. To properly process that video, VS, VCA and VA systems are rquired.
Growing at a compound annual growth rate of up to 11 percent, captured video surveillance will reach approximately 3.3 trillion video-hours in 2020, the report says. In addition, based on the assumption that 20 percent of the video streams should be reviewed by human operators, a workforce of over 100 million operators will be needed in order to adequately review those videos, according to the report.
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