Skip to main content

Video Surveillance as a Service Gains Cognitive Insights

Capturing data from video is a growing application within the Internet of Things (IoT). Video asset management and big data analytics software are enhancing the inherent benefits of high-quality IP cameras. As a result, the video surveillance market is experiencing a significant transformation.

ABI Research forecasts global value-added services market revenues will reach $10 billion by 2021. Data and analytics services, as well as device and application platform services, show the strongest revenue growth within the non-consumer video surveillance market.

"With hardware revenue margins destined to decline, many industry players are adopting a more service-oriented approach to find new revenue opportunities," said Eugenio Pasqua, research analyst at ABI Research. "The intersection of video surveillance and IoT opens the doors to a whole new set of players."

Big Data Analytics and Cognitive Demand

Enterprises can derive valuable insights from the data generated by video surveillance systems, which the organizations can then use to drive their operational, marketing, and merchandising decisions forward. ABI Research anticipates that savvy vendors will offer solutions that integrate operation data from a variety of sources -- including cameras and control systems.

Three trends in the video surveillance market depict the convergence of IoT and video surveillance: Video Surveillance as a Service (VSaaS), the integration and unified management of video surveillance within other systems, and the use of video analytics as a business intelligence tool.

VSaaS, specifically, is an emerging business model that enables access to the system and its services from virtually anywhere, while relieving user organizations and enterprises from service management.

While large-scale adoption of a fully cloud-based VSaaS model is a nascent use case, many vendors are already incorporating VSaaS functionalities into their traditional video management solutions. They're then integrating and connecting them with other security systems -- such as access control, fire detection, and building management.

Harvesting Actionable Insights from Data

"The increasing demand of IT and physical security convergence and video integration will provide a fertile ground for players with a good IP understanding," concludes Pasqua. "This will ultimately push many firms to closely collaborate and reduce the complexity in delivering a viable end-to-end solution."

As for video analytics, Pasqua believes that its use as a business intelligence tool will be a major driver for growth in the sector. Moreover, the growing desire to achieve a higher ROI from video surveillance systems will push more commercial users to implement intelligent solutions, such as those enabled by cognitive analysis.

And while the majority of surveillance cameras currently installed in the enterprise environment still use fixed line analog connections, this will not handicap market development. ABI Research believes that both wired and wireless IP connections will continue to grow at a double-digit CAGR for at least the next five years.

Popular posts from this blog

Digital Transformation Spending Reaches $1.8 Trillion

Ongoing investment in business technology will remain on track, despite concerns about the global economic outlook which continues to evolve in 2022. Enterprise CIOs and CTOs are focused on operational profitability and digital business growth goals that are enabled by strategic IT initiatives. Global spending on the Digital Transformation (DX) of business practices, products, and organizations is forecast to reach $1.8 trillion in 2022 -- that's an increase of 17.6 percent over 2021, according to the latest market study by International Data Corporation (IDC). Many anticipated DX investments will sustain this pace of growth throughout the 2021-2025 forecast period, with a five-year compound annual growth rate (CAGR) of 16.6 percent. Digital Transformation Global Market Development "IDC expects to see aggressive DX technology investment growth in 2022 following a minor slowdown during the pandemic period," said Craig Simpson, senior research manager at IDC . "As orga

Flexible Working: Why Company Culture Matters

The main reasons for the Great Resignation are obsolete leadership, fearful middle managers, and a toxic culture that hinders employee engagement. Perhaps that's why some organizations are still struggling with the consideration and development of a flexible working model.  They're incapable of evolving to a more enlightened approach to work where employees are treated with respect. They're stuck in a bygone era of the 20th-century industrial revolution where 'shareholder value' tops all other values, and where spreadsheets and financial data analysis drives all key decision making. We should not be surprised that 76 percent of human resource (HR) leaders now feel that hybrid work challenges an employee's connection to organizational culture, according to a recent survey by Gartner. A 2022 poll of HR leaders reveals the most challenging aspect of setting their hybrid strategy is adjusting the current organizational culture to support a hybrid workforce. In fact,

Energy Sector IoT Cybersecurity Gains Momentum

The electric distribution industry continues to invest in digital transformation projects. Advanced Metering Infrastructure (AMI) technology is becoming a driver for connected electricity meters, which will reach an installed base of 1.3 billion by 2027. AMI growth is prompting utilities and energy suppliers to revisit their IT infrastructure security and device management operations, according to the latest worldwide market study by ABI Research. Energy Infrastructure Security Market Development Digitization of traditional electricity grids and the modernization of the aging energy infrastructure is among the top concerns for utility operators and governments worldwide. Security for last-mile energy consumption applications was frequently overlooked. "However, the introduction of AMI, smart metering, and grid digitization is steadily increasing spending for secure management services, assisting implementers to transition to IT (information technologies) and OT (operational techno