The lack of awareness among end-users about video analytics, coupled with inflated promises of earlier generation of analytics, resulted in a huge gap between its capabilities and customer expectations. However, significant advancements over the years and its current ability to offer intelligent analysis of video hold promising opportunities in security as well as non-security applications.
New analysis from Frost & Sullivan (autoid.frost.com), Analysis of Video Analytics Applications in the EMEA Market, finds that the market earned revenues of $48.0 million in 2008 and estimates this to reach $264.0 million by 2015. The application segments covered in this research are commercial, transport and government.
"The falling prices of video analytics are paving the way for increased adoption, even in small and medium-sized applications," says Frost & Sullivan Senior Research Analyst Archana Rao. "The ability of the technology to analyse large volumes of data (video) and distinguish the valuable bits of information yields significant cost savings in terms of limiting monitoring personnel".
The shift from reactive to pro-active analysis of video helps prevent security breaches in addition to achieving cost savings on meagre resources and the time taken to retrieve data for meaningful analysis. This, combined with the falling price and integration with business processes, offers all end users a high return on investment (ROI).
"However, complex technology combined with the relatively slow migration to Internet protocol (IP) in the video surveillance space and an uncertain economic environment is hindering the large-scale adoption of analytics," explains Rao. "The current video analytics solutions continue to suffer from the unrealistic expectations set in the early stages of the market. Additionally, low awareness about its real benefits, the lack of open platforms and price sensitivity restrain its widespread adoption".
Educating end users about the ROI and setting clear expectations are critical factors for growth of the market.
If you are interested in more information about this study, then send an email to Joanna Lewandowska, Corporate Communications, at joanna.lewandowska[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.
Analysis of Video Analytics Applications in the EMEA Market is part of the Automatic Identification & Security Growth Partnership Services programme, which also includes research in the following markets: European Electronic Access Control Security Markets, European Security Convergence Market, EMEA Biometrics Market, Distribution Channel Analysis for European Security Systems, Opportunities in the European Intrusion Detection Systems Market, North American Government Physical and Logical Security Market, World Residential Security Market, and Security in the Global Utilities Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Analysis of Video Analytics Applications in the EMEA Market / M434-11