Video Analytics: Enhancing Security and Business
Intelligence
Video Analytics, an advanced technology in the field of
video surveillance, is revolutionizing the way we analyze and interpret video
data. This essay delves into the concept of Video Analytics, its impact on
security and business intelligence, and explores some top factors influencing
its adoption. Additionally, we will discuss government policies that promote
the responsible use of Video Analytics.
Understanding Video
Analytics
Video Analytics is an AI-powered technology that leverages
computer vision and machine learning algorithms to analyze video footage in
real-time or post-event. Unlike traditional video surveillance, which requires
human intervention to review hours of footage, Video Analytics automates the
process by detecting, tracking, and classifying objects, people, or events of
interest. It transforms raw video data into valuable insights, enhancing
security, and unlocking business intelligence.
Impact on Security
a. Real-time Threat Detection: Video Analytics enables
proactive monitoring by automatically detecting suspicious activities, such as
intrusions, loitering, or unauthorized access. This real-time threat detection
allows security personnel to respond swiftly to potential security breaches,
preventing incidents before they escalate.
b. Forensic Analysis: In the event of an incident, Video
Analytics facilitates quick and accurate forensic analysis. Investigators can
use the technology to search for specific events or objects, significantly
reducing the time and effort required to identify key evidence.
c. Perimeter Protection: Video Analytics is instrumental in
securing large areas, like airports, ports, and industrial facilities. It can
create virtual perimeters and trigger alerts when an object crosses these boundaries,
ensuring better perimeter protection.
Impact on Business
Intelligence
a. Customer Behavior Analysis: Video Analytics can be
applied in retail and hospitality settings to analyze customer behavior and
preferences. By tracking foot traffic, dwell times, and popular areas,
businesses can optimize store layouts and improve customer experiences.
b. Operational Efficiency: Video Analytics aids in
monitoring manufacturing processes and workflow optimization. It can identify
bottlenecks, assess employee productivity, and enhance operational efficiency.
c. Traffic Management: Smart cities use Video Analytics to
manage traffic flow, detect accidents, and optimize traffic signal timings,
reducing congestion and enhancing overall transportation efficiency.
Top Factors
Influencing Adoption
a. Technological Advancements: Rapid advancements in AI,
computer vision, and deep learning technologies have made Video Analytics more
accurate, reliable, and accessible, encouraging businesses and organizations to
adopt it for various applications.
b. Cost-Effectiveness: The decreasing cost of hardware and
cloud-based solutions has made Video Analytics more affordable, making it an
attractive option for businesses of all sizes.
c. Data Privacy and Security Concerns: As the use of video
data increases, concerns regarding data privacy and security have surfaced. To
address these issues, Video Analytics providers are investing in robust
encryption, anonymization techniques, and compliance with data protection
regulations.
Government Policies
Promoting Responsible Use
Government authorities are recognizing the potential
benefits of Video Analytics while ensuring its responsible use. Policies often
focus on:
a. Data Protection and Privacy: Governments impose strict
regulations regarding the collection, storage, and use of video data to safeguard
individuals' privacy rights.
b. Ethical AI: Policies encourage the development and
deployment of ethical AI models that avoid biases and respect human rights and
dignity.
c. Transparent Governance: Governments promote transparency
in the use of Video Analytics, ensuring that citizens are aware of surveillance
measures and their intended purposes.
Dynamics of Video Analytics Market
Drivers in Video
Analytics Market
Numerous drawbacks are linked to the manual scrutiny of
surveillance videos. The expenditure on labor has been a deterrent in employing
human resources for the manual analysis of surveillance videos. Video analytics
has emerged as a solution to mitigate labor costs by bolstering the monitoring
capability of individuals or reallocating employees to non-monitoring tasks in
cases of extensive cost restructuring, thereby eliminating the necessity for
constant personnel presence. The analysis of substantial volumes of video
footage by human operators can impede rapid and insightful video analysis, as
well as swift responses to incidents. In contrast, leveraging video analytics
expedites the processing of vast video footage and data, thereby decreasing the
reliance on human labor. The factor of human fatigue, which hampers continuous
monitoring, can also be mitigated with the aid of video analytics solutions.
Unlike human operators who miss over 90% of video activities after a mere 20
minutes of continuous surveillance video observation, video analytics software
maintains its efficiency, thereby markedly reducing false positives. While
human oversight is prone to variations in integrity during manual analysis,
video analytics software consistently upholds operational compliance through
adherence to pre-defined rules and response protocols.
Restrictions in Video
Analytics Market
Government Regulations and CCTV Surveillance:
The broad spectrum of applications for video analytics has
spurred governments, organizations, and businesses to integrate video analytics
into their video surveillance systems. These systems are adept at continuous
video capture and analysis, serving various purposes like facial recognition,
people counting, and Automatic Number Plate Recognition (ANPR). Despite the
advantages it brings, concerns regarding citizens' privacy have surfaced,
prompting the implementation of rigorous regulations. Notably, countries like
the US and UK have imposed restrictions on the use of video analytics in
specific areas, limiting its functionalities. An illustrative example is the
European Parliament's nonbinding resolution in October 2021, prohibiting the
police's employment of facial recognition in public spaces and the
establishment of private facial recognition databases. Similar bans on facial
recognition and other remote biometric surveillance systems are anticipated in
locations like Oakland and Somerville. The General Data Protection Regulation
(GDPR) has also issued directives on the handling of data derived from CCTV
video footage. Entities are mandated to justify the installation of CCTV based
on GDPR stipulations. As such, stringent regulatory measures are poised to
impede the growth trajectory of the global video analytics market.
Additionally, shipping ports face reputational risks arising from concerns like
smuggling, asset theft, cargo damage, and terrorist threats, affecting the
commercial efficacy of global supply chain activities carried out through maritime
transport. Furthermore, the accuracy of analytics generated from image and
video data encounters limitations due to the absence of a well-structured
database infrastructure for video analytics. These factors collectively
contribute to the constraints on global market expansion during the projected
period. The escalation of cyberattacks and data breaches in recent times has
been noteworthy. A considerable number of businesses lack awareness and robust
cybersecurity protocols. Instances like phishing and social engineering attacks
impacted 62% of enterprises in 2018. By 2023, it is projected that almost 50%
of worldwide data breach incidents will occur in the USA.
Opportunities in
Video Analytics Market
Unlocking Predictive Insights with Video Analytics
The realm of predictive analytics, a method employed to
foresee forthcoming events, draws upon an array of tools such as statistics,
modeling, data mining, machine learning, and artificial intelligence. In this
context, video analytics emerges as a potent tool, capturing pivotal signals
encompassing unstructured streams like video, audio, and social media data
brimming with essential customer behavioral attributes. Furthermore, even
atmospheric data can be harnessed through surveillance cameras stationed in open
environments. Combining these diverse parameters holds the promise of
generating predictions; however, this task is not devoid of challenges. Aspects
such as storage requisites, time-intensive review of each video segment, and
associated complexities may impose hurdles in the generation of predictive
insights. Despite these challenges, the potential to harness predictive
information through video analytics stands as a promising opportunity within
the global video analytics market.
Challenges in Video Analytics
Market
Navigating Interoperability Complexities and Legacy
Equipment
The landscape of interoperability within surveillance
systems poses a significant impediment, impacting both the expansion of the
video analytics market and the overall user experience. This challenge is
particularly apparent when dealing with the analysis of voluminous
Closed-Circuit Television (CCTV) data, which can be both laborious and
time-consuming. A primary contributor to this interoperability hurdle lies in
the multitude of vendors active in the market. Each vendor harbors distinct
video formats for processing, encapsulated within unique encrypted casings. The
absence of standardized protocols complicates tasks involving integration, data
exchange, and viewing across different systems. Addressing the pressing need
for video analytics standardization is paramount, especially given the influx
of novel features intended to elevate the system's aptitude in portraying
object properties, events, and scene contents. Consequently, the intricacies
associated with interoperability in video surveillance systems are poised to
pose formidable challenges for market vendors.
Ecosystem of Video Analytics Market
The Facial Recognition segment is anticipated to witness the
highest growth rate during the forecast period. This technology enables the
identification of individuals by comparing live captured images with stored
digital data. It finds significant applications in brick-and-mortar stores,
providing personalized solutions based on past customer interactions and aiding
in the identification and monitoring of offenders without requiring additional
staff. On the other hand, the crowd management segment is projected to hold a
dominant market share during the forecast period. Video analytics systems with
real-time situational alerts assist police, defense departments, and
governments in managing and monitoring large events effectively.
In terms of components, the video analytics market is
classified into services and software, with software occupying a leading
position, accounting for 65% of the revenue share and growing at a CAGR of
22.76%. The popularity of software-based solutions is attributed to their
flexibility, scalability, ease of integration, continuous improvement,
cost-effectiveness, AI and ML advancements, remote monitoring capabilities, and
integration with data analytics platforms. Businesses prefer software-based
solutions to bolster security measures, enhance operational efficiency, and
gain valuable insights from video data.
In 2022, the government-industry segment held the largest
share due to the increasing focus on enhancing public safety, preventing and
investigating crimes, managing traffic, responding to emergencies, monitoring
crowds, facilitating urban planning, and ensuring regulatory compliance. Video
analytics software empowers government agencies to make data-driven decisions,
improve operational efficiency, and enhance overall security and well-being for
citizens.
Furthermore, the retail industry is projected to experience
the highest CAGR throughout the forecast period as businesses prioritize
customer experience enhancement, operational efficiency improvement, and
data-driven decision-making through the adoption of video analytics software.
Regarding the Deployment Model, the on-premises segment is
expected to capture a larger market size during the forecast period. This model
involves installing and operating software or solutions from the customer's
in-house server and computing infrastructure. Many large organizations opt for
on-premises video analytics to address privacy and security concerns related to
sensitive and confidential data processing.
In the industry segmentation, the market is divided into
distinct sectors encompassing government, BFSI (Banking, Financial Services,
and Insurance), essential infrastructure, retail, transportation, and other
domains. Government applications encompass police enforcement and the
implementation of smart city initiatives. The demand for video analysis
solutions has witnessed a transformative shift owing to the burgeoning
requirements of diverse end-users. Anticipatedly, the travel and transportation
industry will claim a significant portion of the market share throughout the
projected period. The expansion of the retail sector is poised to be driven by
the amplified necessity to monitor consumer behavior, shopping trends, and time
allocation. The advent of the COVID-19 pandemic has expedited the adoption of
advanced technologies in medical facilities for patient surveillance and
maintaining social distancing protocols. Moreover, it is foreseen that entities
in the BFSI, government, education, and critical infrastructure sectors will
progressively demonstrate a heightened interest in cutting-edge video content
analytics solutions. The integration of video content analysis tools by
enterprises has been spurred by the widespread use of information technology
across various sectors. The market's trajectory is poised to receive a boost
from end-users' growing emphasis on deploying sophisticated security monitoring
and surveillance systems for comprehending crowd dynamics and behavior in
specific regions. Within the transportation sector, these systems serve varied
purposes such as vehicle counting, traffic congestion detection, license plate
recognition, and speed violation identification.
Market Landscape and Growth Patterns:
In the landscape of market dominance, substantial players
held sway in 2022 and are poised to fuse their video analytics capabilities
with emergent technologies like cloud computing and Artificial Intelligence
(AI) to furnish augmented services.
However, the fastest-growing segment is projected to be
composed of small and medium-sized enterprises (SMEs), which are steadily
increasing their investments in advanced video analytics technologies.
Consequently, market participants are channeling their efforts toward
constructing cost-effective alternatives that deliver both high value and
quality outcomes.
Regional Insights
Asia Pacific: Thriving Video Analytics Market
Anticipated to undergo remarkable growth, the video
analytics market in the Asia Pacific is driven by escalating awareness
regarding potential security threats faced by individuals, coupled with the
burgeoning manufacturing industry. The proliferation of mobile device
production has significantly curtailed camera component costs, rendering
surveillance camera installation more affordable for SMEs and private
individuals. This, in turn, has been augmented by the surge in mobile devices
and internet connectivity, intensifying the uptake of video analytics
solutions. China and India's robust expansion in the E-commerce sector has been
a key catalyst for the video analytics market. The presence of industry leaders
such as Avigilon, Axis Communications, Agent Video Intelligence Limited,
Honeywell, AllGoVision Technologies, and Huawei further bolsters this market's
progression in the region. Furthermore, the rapid GDP growth across Asia
Pacific nations has spurred infrastructure modernization initiatives like smart
city projects and extensive public transit systems, amplifying the demand for
video analytics. Notable examples include China's Yinchuan city, a pioneering
smart city, and Singapore's transformation into a smart nation, both of which
drive heightened demand for efficient video analytics solutions.
North America: A Strong Contender
Predicted to secure the second-largest market share during
the forecast period, North America boasts new technology introductions and a
robust presence of influential companies. IBM Corporation, Honeywell
International Inc., Cisco Systems, Motorola Solutions (Avigilon), and others
are poised to stoke the demand for video content analytics solutions in the
United States and Canada. Enterprises in these regions are actively embracing
video content analytics interwoven with emerging technologies, propelling the
market forward.
Europe: Substantial Market Presence
Europe is poised to claim a significant slice of the market
pie, attributable to the multitude of premier video content analytics solutions
and service providers populating the region. The European Union witnesses the
widespread utilization of the platform by entities such as law enforcement
agencies, critical infrastructure proprietors, and video product and service
vendors. These stakeholders employ the platform to enhance security management,
while European countries demonstrate dedication to merging ICT, mobility, and
energy in the pursuit of sustainable technologies. Market key players are
orchestrating new product launch strategies to expand their product portfolios
within the region.
South America and Middle East & Africa (MEA):
Accelerated Growth
The South American and Middle East & Africa (MEA)
markets are poised for accelerated growth within the forecast period. This
upswing is propelled by heightened government investments in advanced
technologies like big data, artificial intelligence (AI), cloud computing, IoT
networking, and 5G technology. Moreover, the reinforcement of data privacy and
anti-theft features is projected to fuel market expansion in these regions,
offering a promising trajectory for their video analytics sectors.
Dominating Companies in Video Analytics Market
- GENETEC
- INTELLIVISION
- GORILLA TECHNOLOGY
- INTUVISION
- EAGLE EYE NETWORKS
- ADT
- STANLEY SECURITY
- PURETECH SYSTEMS
- HIKVISION
- DAHUA TECHNOLOGY
- IOMNISCIENT
- NEC CORPORATION
- HUAWEI
- INTELLIGENT SECURITY SYSTEMS
- VERINT SYSTEMS
- VISEUM
- BRIEFCAM
- BOSCH SECURITY SYSTEMS
- I2V
- DIGITAL BARRIERS
- SENSTAR
- QOGNIFY
- IDENTIV
- IPSOTEK
- DELOPT
- DRISHTI TECHNOLOGIES, INC.
- NATIX
- DEEP NORTH
- CRONJ
- MICROTRAFFIC
- ACTUATE
- CALIPSA
- CORSIGHT AI
- ARCULES
- CAWAMO
- KOGNIZ
Recent Developments in Video Analytics Market
- In May 2021, a collaboration was formed between Cisco Meraki
and Kloudspot, aiming to enhance workplaces by providing improved safety and
intelligence for employees and customers.
- IBM made an acquisition in April 2021, taking over
myInvenio, an Italian company specializing in process mining software. This
strategic move empowers customers with an extensive array of AI-driven
automation tools for business processes.
- Honeywell solidified an agreement in March 2021 to acquire a
majority stake in Fiplex Communications, enabling an expansion of in-building
communication and connectivity solutions. Honeywell is leveraging Fiplex's
solutions as a foundation for their wireless technology advancement.
- Axis Communications revealed plans in April 2020 for
expanding its software development research and development office in
Linköping, Sweden, showcasing the company's commitment to software innovation.
- In March 2020, Avigilon unveiled the integration of
video-tag enterprise body-worn cameras with the Avigilon Control Center (ACC)
video management software. This integration heightens enterprise security
efforts by enabling access to live body-worn audio and video through the ACC's
AI-powered platform.
- In May 2023, VinAI joined forces with Qualcomm Technologies,
Inc. to introduce GaurdPro, an AI-driven safety and compliance solution
tailor-made for smart cities. This solution focuses on real-time monitoring of
buildings in smart cities to enhance safety and regulatory compliance.
- During May 2023, Claro Enterprise Solutions, a cybersecurity
and IT solutions provider, launched an AI Video Analytics product in
collaboration with Iveda. This product offers innovative surveillance
capabilities for public spaces, including educational campuses.
- Megh Computing and Shabodi collaborated in April 2023 to
introduce Video Analytics Solutions (VAS) tailored for advanced networks such
as 5G, Wi-Fi 6, LTE, and 6G. These solutions harness Shabodi's Application
Enablement Platform and Megh's Open Analytics Platform.
- Lumeo unveiled the Universal AI Bridge in April 2023,
allowing seamless integration of cloud-based, AI-powered analytics into
existing IP cameras and NVRS. This innovation eliminates the need for
additional on-site hardware, facilitating the expansion of analytics capabilities.
- Irisity AB and Axis Communications announced a partnership
in March 2023, leading to the launch of an advanced surveillance camera
incorporating artificial intelligence (AI) capabilities. This synergy combines
Irisity's AI-driven video analytics expertise with Axis Communications'
surveillance camera technology, resulting in enhanced security and intelligence
features.
Video Analytics is a transformative technology that enhances
security, optimizes business operations, and contributes to the development of
smart cities. Its real-time threat detection capabilities empower security
teams to respond proactively, while its insights into customer behavior and
operational processes drive business intelligence. As technological
advancements continue and government policies promote responsible usage, Video
Analytics is poised to play a pivotal role in shaping a safer and more
efficient future.