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Following three decades of slow market penetration and disappointing performance, the Intelligent Video Surveillance, VCA & Video Analytics industry will experience a decade of rapid growth.
The "Intelligent Video Surveillance, VCA & Video Analytics: Technologies & Global Market – 2013-2020" report indicates that the global Intelligent Video Surveillance (IVS) & Video Analytics (VA) industry revenues* totaled
$13.5 billion in 2012, and are estimated to reach
$39 billion in 2020.
The rapid market growth is driven by the following dynamics:
Increased use of video surveillance.
Migration from analog to digital cameras and to IP based cameras.
Technology maturity. Video analytics algorithms, processors, applications and products underwent a decade of technological evolution to intelligent video processing, based on advancements in image processing, enabling automatic detection of signatures detection and identification.
Cost reduction of video analytic systems. Driven by the falling prices of image processing DSPs and communication systems.
Cost-performance of new edge-based video analytics DSP technologies (e.g., Intel, Texas Instruments DSPs).
Human operators entail high cost & high rate of overlooked events. Real time analysis of video images and recorded footage is a need that can hardly be answered effectively by human operators, and manpower cost. Furthermore, human operators fatigue and boredom cause a high rate of overlooked events.
It takes IVS, VCA and VA to process trillions of video surveillance-hours generated annually. By 2011 over 165 million video surveillance cameras installed worldwide captured 1.4 trillion video-hours. Growing at a CAGR of 9-11%, captured video surveillance will reach approximately 3.3 Trillion video-hours in 2020. A hypothetical analysis assuming that 20% of the most critical video stream should have been reviewed by human operators, results in a (hypothetical) need to employ (by 2011) a workforce of over 100 million operators (working 8 hours daily, 300 days a year).