Memoori’s recent report ‘The Physical Security Business 2018 – 2023’ estimates the world market for Video Surveillance products in 2018 at $17.57 billion and that it will grow to reach $32.64 billion in 2023. Here are some trends impacting the surveillance technology industry.
More cloud-to-cloud integration
With the exponential growth in Internet of Things (IoT), storage of footage in the cloud and the ability to remotely monitor homes and business units remotely using smartphones, tablets, and other devices, the cloud ecosystem has become the preferred point of integration, rather than the traditional on-premise system. The cloud will continue to play a significant role in IT infrastructures. This will, in turn, reduce in-house IT services required, creating great cost benefits and also improve time to market for new solutions.
Many have moved their entire infrastructures to a cloud-based model, and data demands are still significant. Edge computing puts more data processing at the “edge” of the network, close to where the data is collected by the sensor and before transfer to the data center. edge computing will process data within for example spy cameras and recording pen, significantly reducing the bandwidth demands of both data transfer and storage. Data can be anonymized and encrypted before it is transferred, addressing security and privacy concerns. Ultimately, cloud and edge computing will not be an “either…or” decision; the two will work in balance to the greatest benefit.
Artificial Intelligence will become more important
Although machine or deep learning is mostly used for video analytics, AI is expected to play a more dominant role in many different applications and products in the future and will be included in many different environments and devices.
Deep learning consists of two different phases: the training phase and the execution phase. The training phase requires a lot of processing power, data and time, and so will likely run on a server and/or in the cloud. The execution phase, which requires “trained” data to work, can be done at any level within the system, depending on how much processing power is required and how time-critical the application is.
AI impact in surveillance is expected to be incremental, rather than radical.
Personalization versus privacy
The EU’s General Data Protection Regulation (GDPR) bought a higher level of scrutiny than ever before on how organizations collect, store, share, and use personal information (including that captured by video surveillance). The trust between an organization and its customers is becoming an increasingly important and tangible asset and can impact revenue.
Cybersecurity will remain in the spotlight
The fastest way to damage trust between a company and its customers (and shareholders) is through a cybersecurity breach, and this can heavily impact revenue.
Cybersecurity will never be solved because cybercriminals (and increasingly nation-states) will never stop trying to find and exploit vulnerabilities. These organizations are well funded, organized and can innovate much more quickly than companies that need to adhere to industry regulations. Attacks are becoming more sophisticated, at a time when the number of connected devices means that potential vulnerabilities and insecure network endpoints are growing exponentially.
Cybersecurity breaches may occur through both software and hardware. Manufacturers are becoming more deliberate about ensuring that every link in their supply chain is as secure as it should be.
CCTV systems must also be optimized for GDPR data requests in line with recent regulations.
Sensor integration to drive smart actions
In a smart city, a motion sensor connected to a barrier could trigger a camera which, in turn, would trigger an alert in the operations center, allowing for a rapid and appropriate response. Meanwhile, an environmental sensor could trigger a video or thermal camera to quickly identify fires or spillages, again prompting alerts that will create a more rapid and effective response. When the range of sensors are considered – from thermal to motion, from atmospheric to video – the ways in which they could be combined are endless, as are the potential benefits of doing so. This will deliver significant benefits.
New trends in technology and the ability to apply these trends to different industries will lead to increased acceptance, improved efficiency, and productivity. Beyond surveillance, new technology trends can be useful for the environment. Video analytics can be used as an operational planning tool by organizations to improve energy efficiency within offices. Newer, more sensitive sensors can pinpoint areas of energy wastage using thermal imaging.
Highlighting areas of waste will lead to efficiencies, cost savings, and health benefits.