The demand for more advanced video surveillance is on the rise as organizations seek to protect people, critical infrastructure and information from deliberate and accidental threats. According to a new report by MarketsandMarkets, the global video surveillance market is estimated to grow from just under $14 billion in 2013 to more than $42 billion in 2020, at a compound annual growth rate of 17 percent. Industry research by IHS Technology forecasts the sales of video surveillance equipment to reach $26 billion in 2018, and predicts the market will grow two times faster than the overall IT market.
This growth is driven by the need for sophisticated yet simple tools to help provide a safe, secure environment. Operators of office buildings, hospitality venues, retail establishments, hospitals, schools and government facilities are implementing video surveillance solutions to protect against a wide range of risks — from shootings and the threat of terrorism to theft and fraud.
But IP video surveillance isn’t just about security. Organizations in a wide range of industries are also using IP video surveillance to monitor business processes and customer behavior and meet strategic business goals.
While traditional analog solutions remain a solid part of the video surveillance landscape, Internet Protocol (IP)-based video surveillance solutions have surged to the forefront of the market. IP video surveillance uses digital cameras and network video recorders (NVRs) to deliver high-quality video across a data network for real-time or future viewing on virtually any Internet-connected device. This allows administrators to manage and maintain video surveillance like any other network application.
The shift to IP video surveillance is being driven by the following industry trends:
- Lower technology costs, especially related to digital cameras and storage
- Faster deployments
- Simpler user interfaces
- Industry-specific solutions geared toward specialized applications
- Anytime, anywhere access via mobile devices
The global demand for IP video surveillance systems is expected to overtake demand for analog video surveillance in 2014, according to the MarketsandMarkets report. Analog solutions simply can’t match IP-based solutions for efficiency, quality, reliability, accessibility, flexibility and scalability.
Many of the latest IP video cameras offer much higher picture quality than their analog counterparts. For example, a 1 megapixel IP camera applies 720 pixels per foot to the target recording area compared to just 240 pixels per foot for an analog camera. That means you need fewer IP cameras to get the coverage you want, reducing capital investments and overhead costs.
In addition, IP video surveillance solutions can be fully integrated with other safety and security systems, as well as with point-of-sale systems, time-and-attendance software and other third-party applications on the network. Combining video capture with these tools can aid in the detection of fraud and streamline investigations.
In our next post we will discuss some of the factors you need to consider when adding IP video surveillance to your network.