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Video Analytics Market Worth $13,001.7 Million at 21.3% CAGR; Industry Giants Such as IBM and Cisco to Ramp up Investments to Develop Advanced Data-driven Video Solutions: Fortune Business Insights™

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Pune, India, July 08, 2021 (GLOBE NEWSWIRE) — The global video analytics market size is projected to reach USD 13,001.7 million by 2027, exhibiting a CAGR of 21.3% during the forecast period. Development and introduction of video analytics to support the fight against the COVID-19 pandemic is emerging as a major game-changer for this market, observes Fortune Business Insights™ in its report, titled “Video Analytics Market Size, Share & COVID-19 Impact Analysis, By Component (Solutions, Services), By Application (Crowd Management, Facial Recognition, Intrusion Detection, License Plate Recognition, Motion Detection, and Others), By End-user (BFSI, City Surveillance, Critical Infrastructure, Education, Government, Retail, Transportation, and Others), and Regional Forecast, 2020-2027”. With coronavirus cases refusing to abate, several tech companies are seizing this opportunity to create and launch smart analytics solutions to augment governments’ capacities to battle the pandemic.

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For example, in August 2020, AllGoVision Technologies launched AllSafe, a video analytics suite developed by the company to enhance safety and security of people in offices and public areas, having features such as No-Mask Detection and Contact Tracing. Facial recognition specialists such as Herta are releasing advanced video analytics, especially for airlines, to identify people even when they are wearing masks. In December 2020, Johnson Controls and Microsoft announced the integration of the OpenBlue Digital Twin and the Azure Digital Twin platforms that will leverage video analytic technologies to enable companies to efficiently implement COVID safety measures and maximize digital space. These are a few examples of market players utilizing the innovation opportunities thrown up by the COVID-19 pandemic, which are benefiting this market.

As per the report, the global market value in 2019 stood at USD 2,896.0 million in 2019. The salient features of the report include:

  • Microscopic assessment of the trends, drivers, and restraints influencing market growth;
  • Comprehensive analysis of the regional developments impacting the market;
  • Actionable research into the key players’ profiles and their strategies; and
  • Holistic study of all market segments.

List of Key Companies Profiled in the Video Analytics Market Report:

  • Viseum International (Potters Bar, England)
  • AllGoVision (Karnataka, India)
  • Huawei Technologies Co., Ltd.  (Shenzhen, China)
  • Agent VI (New York, United States)
  • Gorilla Technology Group (Taipei, Taiwan)
  • Cisco Systems, Inc. (California, United States)
  • IBM Corporation (New York, United States)
  • Kiwisecurity (Vienna, Austria)
  • Axis Communications AB (Lund, Sweden)
  • Robert Bosch GmbH (Stuttgart, Germany)
  • Honeywell International Inc.  (Charlotte, United States)
  • Motorola Solutions, Inc. (Avigilon Corporation) (Illinois, United States)
  • ULTINOUS Zrt. (Budapest, Hungary)

Driving Factor

Expanding Utilization of AI-based Video Analytics by Governments to Feed Market Growth

The proliferation of artificial intelligence (AI) and related technologies in administrative, public safety, and law enforcement domains is emerging as a major driving force for the video analytics market growth. Governments in several countries are actively deploying AI-powered video analytics and facial recognition solutions to conduct efficient surveillance of citizens, public infrastructures and spaces, and improve the quality of governance. According to the Carnegie Endowment for International Peace’s AI Global Surveillance (AIGS) Index, 75 out of 176 countries worldwide are actively using AI for surveillance activities, including smart policing, facial recognition, and smart city development. The AIGS further reveals that 51% of the liberal advanced democracies and a large chunk of full democracies extensively utilize a wide range of surveillance technologies. Adoption of AI-based video analytics technologies by government agencies will prove highly beneficial for this market in the near future.

Click here to get the short-term and long-term impact of COVID-19 on this market.

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Regional Insights

North America to Spearhead the Market Backed by Rapid Uptake of Advanced Surveillance Systems

North America is envisaged to dominate the video analytics market share during the forecast period on account of the speedy adoption of AI-based video surveillance systems by government authorities in the US. Furthermore, major cities across the US have made heavy investments to deploy smart technologies such as drones and street sensors to augment safety and security of citizens. In 2019, the North America market size stood at USD 971.8 million.

In Asia Pacific, the market is expected to experience robust growth owing to the implementation of smart city projects, increasing focus on national security, and steady expansion of the retail industry. On the other hand, Europe is anticipated to generate lucrative opportunities as the advanced economies of the European Union (EU) are exploring options to develop technologies by blending analytics, energy, and mobility.

Competitive Landscape

Product Enhancement to be the Principal Focus Area for Key Players

Leading companies in this market are concentrating on enhancing their products and services with advanced features and tools to deliver superior performance for their customers. These players are focusing on developing offerings that have a broad range of applicability and can cement their position in the market.

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Industry Developments:

  • November 2020: Axis Communications announced its plans to launch the Axis Object Analytics, its smart video analytics solution that can identify and classify humans and objects as per surveillance need. The product has been designed for application in diverse spaces such as car parks and warehouses.
  • March 2020: Lanner Electronics and Gorilla Technology joined forces to release the next-gen Secure Edge AI solution that combines Gorilla’s real-time video analytics and Lanner’s intelligent edge computing platform. The solution offers AI-optimized video analytics and ensures cyber-security and data safety at the edge.

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Table of Content:

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Key Takeaways
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • PESTLE Analysis
    • Porter’s Five Force Analysis
    • Supply chain Analysis 
  • Global Referral Marketing Software Key Players Market Share Insights and Analysis, 2019
  • Key Market Insights and Strategic Recommendations
  • Primary Interviewee’s Key Responses
  • Companies Profiled (Covered for key 10 players only)
    • Overview
      • Key Management
      • Headquarters etc.
    • Offerings/Business Segments
    • Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
      • Employee Size
      • Key Financials
        • Past and Current Revenue
        • Gross Margin
        • Geographical Share
        • Business Segment Share
    • Recent Developments
  • Annexure / Appendix
    • Global Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
      • By Deployment (Value)
        • Cloud
        • On-premises
      • By Enterprise Size (Value)
        • Large Enterprise
        • SMEs 
      • By End-user (Value)
        • BFSI
        • Retail
        • E-Commerce
        • Education
        • Hospitality
        • Others (Healthcare, Media & Entertainment, etc.)
      • By Region (Value)
        • North America
        • South America
        • Europe
        • Middle East & Africa
        • Asia Pacific
    • North America Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
      • By Deployment (Value)
        • Cloud
        • On-premises
      • By Enterprise Size (Value)
        • Large Enterprise
        • SMEs 
      • By End-user (Value)
        • BFSI
        • Retail
        • E-Commerce
        • Education
        • Hospitality
        • Others (Healthcare, Media & Entertainment, etc.)
      • By Country (Value)
        • United States
          • By End-user
        • Canada
          • By End-user
        • Mexico
          • By End-user

TOC Continued.

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Internet of things (IoT) in Healthcare Market Size, Share & COVID-19 Impact Analysis, By Component (Devices, Software, and Services), By Application (Telemedicine, Patient Monitoring, Operations and Workflow Management, Remote Scanning, Sample Management, and Others), By End-User (Laboratory Research, Hospitals, Clinics, and Others), and Regional Forecast, 2021-2028

Cloud Gaming Market Size, Share & COVID-19 Impact Analysis, By Device (Smartphone, Laptop/Tablets, Personal Computer, Smart TV, and Consoles), By Streaming Type (Video Streaming, and File streaming), By End-User (Casual Gamers, Avid Gamers, and Hardcore Gamers), and Regional Forecast, 2021-2028

Business Process Management (BPM) Market Size, Share & COVID-19 Impact Analysis, By Component (Solution/Tools/Platform, Services), By Deployment (On-Premise, Cloud), By Organization Size (Large Enterprises, Small and Medium Sized Enterprises), By Functionality (Accounting & Finance, Sales & Marketing, Human Resource, Supply Chain Management), By Industry (BFSI, IT & Telecommunication, Healthcare) and Regional Forecast, 2021-2028

Europe Smart Building Market Size, Share & COVID-19 Impact Analysis, By Solution (Security System, Safety System, Others), By Application (Residential, Commercial), and Europe Forecast, 2021-2028

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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