This market research report provides a comprehensive segmentation of the global IVA market by end users such as BFSI, government, healthcare, industrial, retail, and transportation and logistics. It provides a market share analysis and projections of its key regions, including the Americas, APAC, and EMEA. The key vendors analyzed in this research report are Agent Vi, Axis Communications, Bosch, Cisco, Honeywell, and IBM.
Technavio has released updated information on the video analytics market, with the publication of its new market research report, global IVA market. The global IVA market is expected to generate revenues of $2 billion between 2016 and 2020, owing to the growing demand for improved security measures globally. Rising terrorism incidences and anti-social activities have led to an increased adoption of IVA solutions by governments and large enterprises across the globe that provide real-time alerts and automatically report suspicious events to maximize security and maintain operational efficiency. The Americas account for 53% of the overall market revenue, where US is the major revenue-contributing country. The presence of key vendors such as IBM and Cisco in this region has been boosting the market growth in this region.
“IVA solutions support the security personnel in identifying danger through the efficient analysis video files. These solutions use advanced technologies that support video monitoring functions such as advanced motion detection that can be adjusted to suit different sensitivity levels. IVA solutions also generate automatic alerts when some uncertain activities occur, which reduces the dependence on security personnel,” says Amrita Chaudury, Lead Analyst, ICT, Technavio Research
The infrastructure required for these advanced solutions is expected to pose challenges for the adoption of IVA during the forecast period. IVA requires high-resolution IP cameras and systems with large memory capacities, high configuration, and processing power. Moreover, with analog cameras being replaced by IP cameras, many users are unwilling to make the transition due to the lack of awareness about their benefits.
The leading vendors in the global IVA market include Agent Vi, Axis Communications, Bosch, Cisco, Honeywell, and IBM. The market is characterized by the presence of numerous large and mid-sized vendors. The market is witnessing the influx of new cloud vendors who are competing with on-premise providers. The report anticipates the market to observe an increase in consolidation and outsourcing of IVA operations and services during the forecast period.
A more detailed analysis is available in the Technavio report, Global IVA Market 2016-2020.
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