Video Surveillance Market Trends: Video surveillance has become a common term used across global organizations. The term refers to using security cameras to monitor and record activities in an area. Organizations install Closed Circuit Television (CCTV) cameras on-premises to achieve this goal and enhance security.
According to a source, the global video surveillance market reached $53.7 billion in 2023 and will upscale to $83.3 billion by 2028, attributed to rising security concerns. The market growth is also contributing to the increasing demand for CCTVs. As per research, the CCTV market share was estimated at $43.69 billion in 2023 and will reach $207.13 billion by 2033. The growing demand for such surveillance cameras is linked to the increasing need to enhance infrastructure security.
Table of Contents
Video Surveillance Market Trends to Lookout For in 2024
Body Posture Detection
Traditionally, surveillance cameras required a command center with individuals addressing security alerts throughout the day. However, the chances of mishaps, thefts, and tampering always remained as organizational concerns.
Today, AI-equipped CCTV cameras linked to the internet can derive highly beneficial analytics for enterprises. For example, suppose an organization has integrated body posture video analytics. In that case, it can derive insights into abnormal behaviors or alert security to send someone to help in an area when a person has fainted.
Such a solution proves highly beneficial, especially in healthcare, manufacturing, hotel, and hospitality industries.
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Object Detection
Another significant transformation that video surveillance cameras have made into video analytics solutions is object detection. The integration of object detection has significantly enhanced security at multiple levels.
For example, surveillance cameras can have an alerting system that raises alarms when it detects unclaimed baggage or other objects on-premises. It is highly beneficial for airports, hotel & hospitality, real estate, and other stakeholders wherein baggage is a part of the day.
With AI-powered video analytics, security guards alert the respective authorities on time rather than depending on security personnel at the premises. Moreover, they can even ensure public safety at such places in real-time. In one of our blogs, we have uncovered the importance of such a solution in the education sector, wherein raising alerts, especially with the gun violence incidences in the USA, has become important.
Parking, Traffic, and People Management
An extension of the object detection capabilities is the traffic, parking, and people counting system. For example, with a traffic or flow control system, it becomes easier to identify congested areas and smooth-flowing traffic. As a result, the personnel in charge can make better decisions.
Similarly, with a crowd-counting system, the solution can identify crowded spaces and identify empty spots. By doing so, the security personnel can divert people into empty spaces and avoid events like stampede. The people counting system is extremely useful during events wherein the crowd is increasing rapidly and has a large inflow and outflow of people.
The headcount system allows the counting of the total number of people present in a designated area. Similarly, suppose we account for the parking management system under object detection and monitoring. In that case, it can help to ascertain empty spots and allow the security guards to point the vehicles toward such spaces.
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- Why Organizations Should Embrace CCTV Face Recognition Attendance System?
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- Why Organizations Should Embrace CCTV Face Recognition Attendance System?
Check-in and Checkout Logs
Another trend that has become popular with computer vision-enabled CCTV cameras is attendance. The usage of CCTV cameras to ensure accurate check-in and checkout logs ensures the real-time presence of individuals on the premises.
Moreover, it helps to curate accurate payrolls, especially for contractual workers, and prevents leakage of business funds as overtime payments. Additionally, the solution helps to identify the most punctual individuals, the overtimers, and the frequent defaulters.
Besides this, as the solution is completely contactless, it becomes highly dependent because there is no chance of proxy, tampering, or spoofing. Furthermore, CCTV-enabled attendance has become the new-age method to understand the average check-in and checkout durations of workers on the premises.
Access Management
CCTV-driven biometric access control systems have slowly paced their way into the access management industry. Such solutions integrate face recognition technology into the camera, which permits or restricts persons from entering in areas blocked by doors.
The advantage of such a solution is that it helps in preventing intrusion and reduces the instances of theft. If the face biometric-enabled CCTV cameras also incorporate liveness detection, it refrains anyone from using a video or photo to receive access to restricted areas secured via face biometrics.
Such a solution is highly beneficial for the healthcare and hospitality industries as it can let the administrator know about the last person who entered or exited a restricted room with the timestamps.
Conclusion
The video surveillance market size will see significant growth in the coming years. The transformation of such CCTV cameras into video analytic solutions is driving the growth with scalability options like body posture detection, object detection, and individual recognition via face biometrics.
Moreover, the cameras that were initially installed for security purposes have now become a new-age method for access management and streamlining attendance within organizations. The scope of data analytics backed by this information also enhances the organizational capability to detect premise accessibility hours.
To summarize, the video surveillance market is witnessing multiple market trends, beginning from attendance management and intrusion/object detection to access management, leveraging artificial intelligence, contactless biometrics, and other technologies.
