2013: Video Analytics in HLS Market Surpassed $8.3 Billion

2013: Video Analytics in HLS Market Surpassed $8.3 Billion

This post is also available in: heעברית (Hebrew)

6660576_m featureVideo Analytics in Homeland Security & Public Safety Global Markets Surpassed $8.3B in 2013

According to the Intelligent Video Surveillance, ISR & Video Analytics: Technologies & Global Market – 2013-2020 report, the rapid market growth is driven by the following dynamics:

  • Increased use of video surveillance
  • Migration from analog to digital and IP-based cameras
  • Migration from labor intensive video surveillance to computer automated (and semi-automated) video surveillance
  • 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 and identification of signatures.
  • Cost reduction of video analytic systems: driven by the falling prices of image processing DSPs and communication systems.
  • Improved cost-performance of new edge-based video analytics DSP technologies (e.g., Intel & Texas Instruments DSPs)

IHLS – Israel Homeland Security

video2014_980x200

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 due to manpower costs. Furthermore, human operators fatigue and boredom cause a high rate of overlooked events.

IVS, ISR and VA process trillions of video surveillance-hours annually: By 2012, over 200 million video surveillance cameras (including ISR cameras) deployed worldwide captured 1.6 trillion video-hours. Growing at a CAGR of 9-11%, captured video surveillance is forecasted to reach approximately 3.3 trillion video-hours in 2020. A hypothetical analysis assuming that 20% of the most critical video streams should have been reviewed by human operators, results in a (hypothetical) need to employ (in 2012) a workforce of over 110 million operators (working 8 hours daily, 300 days a year).

In the past year, intelligent video surveillance, ISR and video analytics with mature technology have attracted a lot of attention. Homeland Security Research Corp. (HSRC) estimates that the global market will triple by 2020.