Report: Video Security Business Shows Growth in 2021 Despite Challenges

Report: Video Security Business Shows Growth in 2021 Despite Challenges

  • Nov 29, 2021

Despite the challenges resulting from the COVID-19 pandemic, nearly four in five video security systems-related businesses reported growth in the past 12 months, according to a 23-nation survey conducted by Calipsa, a provider of deep-learning powered video analytics.

Slightly less than half of businesses reported growth in a 2020 report.

The Calipsa 2021 Video Monitoring Report is a look inside the industry and its biggest trends. The second annual report was released as part of the recent Calipsa Masterclass, a virtual event presenting interactive workshops aimed at members of the video security systems industry.

Small security businesses appear to be thriving the most, as this year 79 percent reported client growth, compared to 59 percent last year. Respondents from all sectors reported average revenue growth of nearly 34 percent in the past 12 months, up 4 percent over the 2020 results.

Yet, despite overall growth in both revenue and clients, more than six in 10 businesses surveyed in 2021 – down from 79 percent in 2020 – found operating in the past 12 months to be difficult as many switched to fully remote setups, and others operated under new health guidelines in the second year of the worldwide pandemic.

The 2021 report also showed a new international trend – difficulties in hiring qualified employees. More than one-third of businesses reported hiring qualified staff as their major challenge.

Based on survey responses, there are several reasons why most respondents succeeded in a difficult business climate - increased demand for their services, adaptability to challenging circumstances and a willingness to adopt new technologies.

Almost three-quarters of respondents agreed that COVID-19 pushed companies to adopt technology faster than they would normally. More than half (57 percent) of businesses surveyed said they are regular adopters of new technology and invest in it often.

“Overall, the businesses we surveyed have adapted well to a changed working environment, and it appears that technology has played a significant role in enabling them to adapt quickly,” said Brian Baker, chief revenue officer, Calipsa. “With operational changes and a targeted use of technology, it seems likely that our respondents will continue to fare well as we approach 2022.”

About half of the 2021 survey respondents came from video monitoring stations, 21 percent were video security systems integrators and distributors and the rest came from camera manufacturers, manned guarding operators and other industry providers.

For a more detailed look at the survey responses, visit https://www.calipsa.io/resources/video-monitoring-report-2021 to download the report.

Featured

  • From Surveillance to Intelligence

    Years ago, it would have been significantly more expensive to run an analytic like that — requiring a custom-built solution with burdensome infrastructure demands — but modern edge devices have made it accessible to everyone. It also saves time, which is a critical factor if a missing child is involved. Video compression technology has played a critical role as well. Over the years, significant advancements have been made in video coding standards — including H.263, MPEG formats, and H.264—alongside compression optimization technologies developed by IP video manufacturers to improve efficiency without sacrificing quality. The open-source AV1 codec developed by the Alliance for Open Media—a consortium including Google, Netflix, Microsoft, Amazon and others — is already the preferred decoder for cloud-based applications, and is quickly becoming the standard for video compression of all types. Read Now

  • Cost: Reactive vs. Proactive Security

    Security breaches often happen despite the availability of tools to prevent them. To combat this problem, the industry is shifting from reactive correction to proactive protection. This article will examine why so many security leaders have realized they must “lead before the breach” – not after. Read Now

  • Achieving Clear Audio

    In today’s ever-changing world of security and risk management, effective communication via an intercom and door entry communication system is a critical communication tool to keep a facility’s staff, visitors and vendors safe. Read Now

  • Beyond Apps: Access Control for Today’s Residents

    The modern resident lives in an app-saturated world. From banking to grocery delivery, fitness tracking to ridesharing, nearly every service demands another download. But when it comes to accessing the place you live, most people do not want to clutter their phone with yet another app, especially if its only purpose is to open a door. Read Now

  • Survey: 48 Percent of Worshippers Feel Less Safe Attending In-Person Services

    Almost half (48%) of those who attend religious services say they feel less safe attending in-person due to rising acts of violence at places of worship. In fact, 39% report these safety concerns have led them to change how often they attend in-person services, according to new research from Verkada conducted online by The Harris Poll among 1,123 U.S. adults who attend a religious service or event at least once a month. Read Now

Most   Popular

New Products

  • 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.

  • Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.

    Connect ONE®

    Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.

  • HD2055 Modular Barricade

    Delta Scientific’s electric HD2055 modular shallow foundation barricade is tested to ASTM M50/P1 with negative penetration from the vehicle upon impact. With a shallow foundation of only 24 inches, the HD2055 can be installed without worrying about buried power lines and other below grade obstructions. The modular make-up of the barrier also allows you to cover wider roadways by adding additional modules to the system. The HD2055 boasts an Emergency Fast Operation of 1.5 seconds giving the guard ample time to deploy under a high threat situation.