Recent research from ABI research is predicting that the video analytics market will grow by 21 percent year-over-year in 2011. The huge growth is due mostly to the explosion of various business intelligence (BI) tools on the market.
“Video analytics, used as a BI tool, is currently experiencing a growing demand,” George Kraev, senior analyst, security and ID said in a press release. “That growth will continue for the next couple of years, with a slight drop off at the end of 2013 due to the cyclical nature of the demand. 2014 will see a reinvigorated demand for BI video analytics solutions, with the BI type reaching a 38.4 percent market penetration by 2016. The BI video analytics market is projected to grow a little over 2.5 times from 2011 to 2016.”
According to the research firm, South America will double its global video analytics market share, reaching upwards of 12 percent by 2015, while North America and EMEA will lose some of its market reign because of an increased demand for video analytics in other locations...
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