The global video analytics market is expected to reach $4.2 billion by 2021 at a CAGR of 20.2%, according to a recent market forecast by RnR Market Research.
The market is expected to be driven by increasing security threats, need for intelligent video surveillance and increasing demand of video analytics for non-security purpose.
The forecast predicts that counting and crowd management application is expected to grow at the highest rate as it helps end-users measure the flow of people at specific entry and exit points within a facility, door or building in real-time or periodic reporting.
North America is expected to hold the largest market share and dominate the video analytics market in the forecast period due to huge adoption of video surveillance systems and replacement of conventional video surveillance systems for enhancing the safety and security of critical assets in the U.S.
