Study: Revenue From Video Surveillance Software To Dramatically Increase In Next Five Years

  • May 29, 2008

Video surveillance systems have existed for many years, but until recently, extracting useful information from them was labor-intensive, time-consuming and tedious.

Now, however, the quickening transition from analog to digital video has made it possible to use software for detection and analysis. This can free humans from the drudgery while improving accuracy and creating opportunities to use video in ways never before possible.

“Analytics software has become increasingly sophisticated and more accurate,” said ABI Research vice president and research director Stan Schatt. “It is beginning to be used for such tasks as identifying customer buying behavior, identifying criminal behavior before crimes take place, identifying objects left unattended in public venues, and much more.”

A new study from the firm forecasts a nearly fourfold increase in revenue from video surveillance software between now and the end of 2013, rising from about $245 million to more than $900 million.

In fact, surveillance software has a myriad uses. The homeland security applications are self-evident, but it is also starting to be used in marketing, to identify customer’s “eyeball connections” with products and analyze their retail behavior. In a retail environment it can also analyze customer traffic patterns, helping to improve store layouts. ABI Research expects the retail market segment to grow exponentially. Casinos are also using it to keep staff from restricted areas.

Software can also be used in ATMs and in banks, to identify known criminals before they commit a crime (shades of the film Minority Report).

“There are many small software companies in this market, and some big ones such as IBM, which has released software that is largely platform-agnostic, increasing pressure for others to follow suit. And while most systems today are sold to end-users,” Schatt said. “IBM Global Services sees potential in a managed service model, and it would not be surprising to see HP jump in as well, particularly following its EDS acquisition.”

Featured

  • Maximizing Your Security Budget This Year

    7 Ways You Can Secure a High-Traffic Commercial Security Gate  

    Your commercial security gate is one of your most powerful tools to keep thieves off your property. Without a security gate, your commercial perimeter security plan is all for nothing. Read Now

  • Surveillance Cameras Provide Peace of Mind for New Florida Homeowners

    Managing a large estate is never easy. Tack on 2 acres of property and keeping track of the comings and goings of family and visitors becomes nearly impossible. Needless to say, the new owner of a $10 million spec home in Florida was eager for a simple way to monitor and manage his 15,000-square-foot residence, 2,800-square-foot clubhouse and expansive outdoor areas. Read Now

  • Survey: 72% of CISOs Are Concerned Generative AI Solutions Could Result In Security Breach

    Metomic recently released its “2024 CISO Survey: Insights from the Security Leaders Keeping Critical Business Data Safe.” Metomic surveyed more than 400 Chief Information Security Officers (CISOs) from the U.S. and UK to gain deeper insights on the state of data security. The report includes survey findings on various cybersecurity issues, including security leaders’ top priorities and challenges, SaaS app usage across their organization, and biggest concerns with implementing generative AI solutions. Read Now

  • New Research Shows a Continuing Increase in Ransomware Victims

    GuidePoint Security recently announced the release of GuidePoint Research and Intelligence Team’s (GRIT) Q1 2024 Ransomware Report. In addition to revealing a nearly 20% year-over-year increase in the number of ransomware victims, the GRIT Q1 2024 Ransomware Report observes major shifts in the behavioral patterns of ransomware groups following law enforcement activity – including the continued targeting of previously “off-limits” organizations and industries, such as emergency hospitals. Read Now

Most   Popular

Featured Cybersecurity

Webinars

New Products

  • Luma x20

    Luma x20

    Snap One has announced its popular Luma x20 family of surveillance products now offers even greater security and privacy for home and business owners across the globe by giving them full control over integrators’ system access to view live and recorded video. According to Snap One Product Manager Derek Webb, the new “customer handoff” feature provides enhanced user control after initial installation, allowing the owners to have total privacy while also making it easy to reinstate integrator access when maintenance or assistance is required. This new feature is now available to all Luma x20 users globally. “The Luma x20 family of surveillance solutions provides excellent image and audio capture, and with the new customer handoff feature, it now offers absolute privacy for camera feeds and recordings,” Webb said. “With notifications and integrator access controlled through the powerful OvrC remote system management platform, it’s easy for integrators to give their clients full control of their footage and then to get temporary access from the client for any troubleshooting needs.” 3

  • FEP GameChanger

    FEP GameChanger

    Paige Datacom Solutions Introduces Important and Innovative Cabling Products GameChanger Cable, a proven and patented solution that significantly exceeds the reach of traditional category cable will now have a FEP/FEP construction. 3

  • Camden CM-221 Series Switches

    Camden CM-221 Series Switches

    Camden Door Controls is pleased to announce that, in response to soaring customer demand, it has expanded its range of ValueWave™ no-touch switches to include a narrow (slimline) version with manual override. This override button is designed to provide additional assurance that the request to exit switch will open a door, even if the no-touch sensor fails to operate. This new slimline switch also features a heavy gauge stainless steel faceplate, a red/green illuminated light ring, and is IP65 rated, making it ideal for indoor or outdoor use as part of an automatic door or access control system. ValueWave™ no-touch switches are designed for easy installation and trouble-free service in high traffic applications. In addition to this narrow version, the CM-221 & CM-222 Series switches are available in a range of other models with single and double gang heavy-gauge stainless steel faceplates and include illuminated light rings. 3