North American video analytics market is estimated to grow significantly at a CAGR of around 27.2% during the forecast period. North America video analytics market includes the US and Canada. The US is predicted to contribute highest in the growth of North American video analytics market due to the presence of large organizations with the need for the high security surveillance system. The market is mainly driven by the availability of technical expertise, ever growing requirement of organizations to get actionable insights in real-time and increasing demand for technologically enhanced public safety infrastructure in the region. The need for advanced video surveillance systems is growing due to the increase in crimes and accidents which is a vital factor in the growth of the market in the region.
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In North America, new entrants in the video analytics market are also contributing to the market growth. There are some successful companies in this region. Companies are collaborating to meet the demand for intelligent security systems. The startup companies such as Retailnext and Capillary technologies providing video analytics, Wi-Fi detection of mobile devices (including Bluetooth), data from point-of-sale systems, and other. In addition, introduction to IP technology played a vital role in the growth of the video analytics market. IP cameras have high resolution and better motion quality which increase the demand for high quality video analytics system in the market. The demand for cameras with embedded video analytics, such as motion, face, and object detection are rising in this region. These emerging technologies have contributed to increasing the demand for security products which drives the North American video analytics market.
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North American Video Analytics Market Segmentation
By Deployment Type
- Cloud-based
- On-Premises
By Application
- Banking, Financial Services, and Insurance (BFSI)
- Healthcare
- Retail
- Government & Defense
- Traffic Management
- Others (Surveillance)
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