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Video Analytics boosting market growth

by Geny Caloisi

Video analytics or video content analysis has gained increased attention from both industries and the academic world globally. Allied Market Research confirms that advancements made in technologies such as Deep and Machine Learning, both subcategories of Artificial Intelligence (AI), made it possible for video analytics to perform automation of tasks that once required human intervention to be successfully implemented.

Video analytics has been largely used in security for incident detection, intrusion management, camera tampering recognition, people counting, traffic monitoring, facial recognition, Automatic Number Plate Recognition (ANPR), leak detection and more. Moreover, it has also found application in a wide number of industries such as healthcare, retail, manufacturing, smart cities/transportation, hospitality and so on.

Another application of video analytics is in the retail industry. Video analytics solutions offer retailers deep insights into business intelligence such as store traffic and queue data. The data output is used by retailers to streamline store operations and enhance the overall customer experience. Retailers benefit from information such as the number of people entering the store, average time spent by customers inside the store, frequency of customer visits in a week, month or year, level of occupancy of the business, number of customers entering the store and leaving with a purchase, which are the most visited zones and which areas have a greater entry of people.

The healthcare industry has been turning to technologies based on video analytics to improve the care delivered to patients and increase efficiencies. For instance, cameras built with AI-powered video analytics are used to detect patient falls as they can cause crippling and dangerous injuries. Video analytics solutions can assess the difference between patients lying on the bed, or sitting on the floor to a patient has fallen on the floor. By detecting such incidents, the solutions raise alerts and offer a timely response. Video analytics also monitor patients recovering from surgeries, critical injuries or elderly with severe diseases. Theft, infant abduction, ward monitoring & occupancy checks, hygiene & social distancing and drug diversion are some of the other aspects that are addressed by video-analytics systems.

Video analytics witness extensive use in the area of transportation that aids in the development of smart cities. Traffic monitoring and Automatic Number Plate Recognition (ANPR) are two examples of video analytics used in smart cities. Traffic in cities can lead to accidents and jams and intelligent video analysis solutions play an integral role in this case. Traffic analysis helps monitor traffic jams and detect perilous situations in real-time such as halting vehicles in some unauthorised zone, driving in the wrong direction, a vehicle moving extremely fast, or vehicles that met with an accident. Video analytics’ ability of vehicle counting and differentiate between cars, trucks, buses, and others generate useful data that is used to gain insights about traffic. ANPR comprises various systems that allow reading and detecting vehicle number plates in near real-time using high-speed image capture. ANPR finds application in recording cars running red lights, traffic mishaps and more.

In the manufacturing industry, video analytics has become the need of the hour. Video analytics can be used for detecting Personal Protective Equipment (PPE) such as hard hats, safety belts, face masks, gloves, jackets and so on. Post monitoring of the equipment, alerts can be sent immediately should there be any divergence. Face recognition technology in video analytics allows the entry of only authorised personnel in restricted areas, preventing theft and any illegal activities that could occur. Video analytics can be used for quality assessment and can send alerts to the personnel if there is any damage to equipment. Video analytics can also help in logistics management.

Players in the video analytics market constantly improve their offerings to gain a competitive edge and meet the changing needs of customers. They execute strategies such as new product launches, collaborations and others to grab a major share, expedite their growth and maintain their competitiveness in the market. All of these provide an impetus to the growth of the video analytics industry.

For instance, in March 2022, BriefCam Ltd., a leading video analytics solutions provider, revealed that it would showcase its comprehensive video analytics platform and flexible deployment architecture options in Las Vegas at the ISC West 2022 Session. The latest version of the company’s software is in line with its commitment to delivering technology that allows people and companies to unleash the potential of video surveillance content. The technology can be used by retailers, hospitality providers and others to monitor foot traffic, queues, demographic data, and staff and customer engagement data and achieve precise and comprehensive results. In December 2021, BriefCam also announced the integration of BriefCam Video Content Analytics to Axis deep learning cameras, AXIS P3255 and AXIS Q1615 Mk III. Featuring a dual chipset of ARTPEC-7, a deep-learning processing unit (DLPU), and the ARTPEC 8 camera series, the analytics-based Axis cameras enable six times faster real-time alerting, a 5-10x reduction in bandwidth and faster real-time processing.

In May 2022, Graymatics, a cloud platform unveiled the PadoSee, a smart AI and deep learning-powered home security solution for Indian residential. Featuring AI and deep learning algorithms, the solution provides home security coverage with great efficiency. 24/7 manual monitoring of residential premises is difficult so PadoSee acts as a force multiplier here. With cloud-based AI video analytics, PadoSee makes it possible to transform existing CCTV cameras into smart surveillance systems that can work in every situation at all hours.

Besides launches and other strategies adopted by players, other factors which are catalyzing the growth of the market include growing demand for automation of video tracking and management, demand for IP-based security cameras, increasing concerns regarding safety and security about life and assets, use of advanced technologies such as AI, machine learning with video analytics, growing need for business intelligence and insights, and a spike in demand for edge-based analytics. According to the firm Allied Market Research, the video analytics market is expected to manifest a CAGR of 22.7% during the forecast period, 2020-2027.

In conclusion, the future of video analytics is bright. With emerging technologies such as AI, cloud and IoT advancing at a rapid pace, applications of video analytics are only increasing in an ethical, strategic and widespread manner, thus driving innovation and growth in every sphere.

Article by Sharmistha Bose, from Allied Market Research,

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