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[December 17, 2012]
The Global Video Analytics Market to Grow At A CAGR Of 28.7 Percent over the Period 2011-2015
Dec 17, 2012 (M2 PRESSWIRE via COMTEX) -- Research and Markets (
) has announced the addition of the "Global Video Analytics Market 2011-2015" report to their offering.
One of the key factors contributing to this market growth is the increasing need to develop competitive strategies. The Global Video Analytics market has also been witnessing the emergence of business intelligence tools. However, the high cost of implementation could pose a challenge to the growth of this market.
The key vendors dominating this market space are Axis Communications AB, Hikvision Digital Technology Co. Ltd., Honeywell Security Group, and Robert Bosch GmbH.
The other vendors mentioned in the report are Agent Vi Co., ObjectVideo Inc., Verint Systems Inc., IndigoVision Ltd., VideoIQ Inc., Viasys Intelligent Video Analytics, Cisco Systems Inc., Panasonic Corp., and Pelco Inc.
Commenting on the report, an analyst from TechNavio's Enterprise Computing team said: ''The Global Video Analytics market is currently witnessing a growing demand for video analytics solutions incorporated with BI tools. These tools help organizations make better decisions by providing accurate, reliable, consistent, and easy-to-understand data in a useful format. When operational data is integrated with BI features, organizations can generate profits by aiming at profitable activities, increase sales by applying fact-based selling tools, enhance customer loyalty and retain customers by optimizing customer experience management, and predict future behavior of prospects and customers by using advanced analytic tools.'' According to the report, one of the major drivers is the increasing need of enterprises to develop competitive strategies. Video analytics solutions help enterprises conduct consumer analytics to identify and retain new consumers. This transforms raw marketing and customer data into useful information, and thus supports competitive strategies.
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