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

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.”

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