What are the Top 5 Trends in the Video Analytics Market, at the Top of the Decade?

Video analytics solution is creating lucrative opportunities for the market players within different sectors - retail, healthcare, building & construction, and other applications.

One of the examples of a safety-focused Video Analytics suite indicates the importance of this comprehensive technology. All Go Vision launched 'All Safe' designed post-Covid, to address the needs of the industries and public entities with advanced scanning after the facilities & offices re-open.

The AI-enabled video content analysis solution is increasing exponentially. Where governmental bodies are keenly looking for traffic congestion, private organizations are using live or recorded videos transformed into structured metadata to deliver quantifiable insights. These are possible with the help of key technologies, Artificial Intelligence, and deep learning.

These technologies have extended the capabilities of video analytics and deliver accurate results, such as face recognition and image classification, which are adapted to serve several end-use applications. Other than face recognition, AI-enabled video analytics can offer -

• Human Action Recognition
• Anomaly Detection
• Contextual Understanding
• Emotion Recognition
• Wilde Area Surveillance
• Video Search & Summarization

Top 5 Video Analytics Market Trends

Decision Intelligence

By 2023, Gartner says that more than 33% of large organizations will have analysts practising decision intelligence, including decision modelling.

Decision intelligence combines decision management and decision support. The complex adaptive systems bring multiple traditional and advanced disciplines and provide a framework to help data and analytics leaders to design, compose, model, align, execute, monitor, and tune decision models & processes for substantial business outcomes and behaviour.

Organizations can explore decision intelligence bot decision management and decision modelling technology when requiring multiple logical and mathematical techniques. Moreover, you can automate or semi-automate decisions or be documented and audited.

X Analytics

The term has been coined by Gartner, where X is the data variable for a range of different structured and non-structured content, for instance, text analytics, video analytics, audio analytics, and others.

X analytics is used to solve the most complex and challenging tasks that can range from climate change to disease prevention to wildlife protection.

During the pandemic, AI has been combined with a myriad of research papers, news sources, social media posts, and clinical trials data to help medical and public health experts find new treatments, predict disease and identify vulnerable populations.

Similarly, X analytics combined with AI can help identify, predict and plan for natural disasters and other business crises & opportunities in the future through graph analytics. Gartner advises the enterprises to try X analytics benefits from cloud vendors for image, video, and voice analytics.

Augmented Data Management

This trend is a combination of ML and AI capabilities to optimize and improve operations. With their AI and ML techniques, one can convert the metadata from being used in auditing, lineage, and reporting to powering dynamic systems.

Augmented Data Management solutions can examine a large sample of operational data and tune them to optimize the configurations, security, and performance. This works using the existential workload data inclusive of actual queries, performance data, and schemes.

Augmented Data management can simplify and consolidate the architectures of active metadata and enhance automation.

Cloud Acceptance is increasing

Business leaders are depending on cloud services to store and align applications. Data and analytics leaders are still facing challenges to align services with the right use cases leading to unnecessary governance and integration overhead.

They also struggle to understand how much a given service cost to how it can meet the workload's performance requirement. Hence, leaders will have to dig deep into cloud capabilities to comprehend as well as prioritize workloads. They will also have to focus on cost optimization and other benefits to make a successful move.

Blockchain in Data and Analytics

The upcoming trend that can propel both data and analytics is Blockchain technology. Blockchain leverage full lineage to assets and transactions. It also provides complete transparency for complex networks.

Apart from robust cryptocurrency transactions, ledger database management systems will offer a more attractive option for an enterprise auditing data source.

Gartner predicts that most permission blockchain uses will be replaced by ledger DBMS products. What enterprise experts can do is position blockchain technologies to the existing data management infrastructure.

In a Nutshell -

When you combine AI and ML algorithms within Video Analytics Software, they can exponent the capabilities of the analytics, offering better and sustainable results. Data and analytics leaders will have to evaluate the opportunities and uncover hidden patterns and relationships.

Not just the medical and public health care experts but also private enterprise leaders can incorporate ML algorithms with data and analytics to comb through a myriad of data sources and documents for rapid discovery of positive outcomes.