The market for video content analysis (VCA) solutions is expected be robust over the next few years, according to a new report from IMS Research.
In fact, the research firm’s recently published report, "The World Market for Video Content Analysis in Security& Business Intelligence Applications," forecasts that the market for video surveillance devices with “chargeable” VCA will be worth nearly $600 million in 2015.
IMS says manufacturers have been offering low-end VCA applications in their products such as motion detection and camera tamper as “free” features, but they predict that a divide will emerge between these lower-end features and higher-end ones that end-users will be willing to pay a premium for to utilize. The market for these "chargeable" VCA features is expected to grow quickly in several markets including retail, transportation and energy and utilities.
"A charge needs to be applied to recover the high cost of developing many of the higher-end VCA applications. It is unlikely that suppliers will amortize this cost in an increased price of every device they sell," report author Jon Cropley said in a statement. "This is because only a small proportion of cameras are actually monitored. Most record the video and only view an event after it has occurred. Furthermore, many VCA applications are quite niche. The majority of customers would therefore be paying for a feature that they would not use."
For more information, visit www.imsresearch.com.