Global Video Analytics Market to Triple Over the Next Decade
IVS, ISR and Video Analytics Process Trillions of Video Surveillance-Hours Footage Annually
By 2012, over 200 million video surveillance cameras deployed worldwide captured 1.6 trillion video-hours. Growing at a CAGR of 9-11%, captured video surveillance footage is forecasted to reach approximately 3.3 trillion video-hours by 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).
Over 50 years of CCTV security systems underwent a decade of technological revolution. This revolution is based on advancements in image processing algorithms, processors and smart end cameras economy of scale.