Security is a crucial concern for businesses in the current era. The introduction of IP video surveillance and video surveillance as a service (VSaaS) has transformed the approach of various industries toward their security measures.
Many industries that prioritize security and closely monitor their operations require advanced technology solutions to ensure their safety. The emergence of digital technology and the demand for remote access have made it imperative to enhance the security measures of various institutions. IP video surveillance and Video Surveillance as a Service (VSaaS) have become essential technologies in improving security and productivity across industries.
IP video surveillance systems are digital video cameras that are connected to a network and can transmit data over the Internet. Unlike analog cameras, IP cameras can capture higher-quality images and video, making them ideal for monitoring banks and other financial institutions. VSaaS, on the other hand, is a cloud-based video surveillance system that enables businesses to access and manage their security footage from anywhere with nothing but an internet connection. This technology eliminates the need for deploying expensive software and hardware installations and reduces the cost of managing security systems, making it a cost-effective solution for banks and financial institutions.
Top Trends of IP Video Surveillance and VSaaS
The IP Video Surveillance and VSaaS market continuously evolves with new technological advancements and changing market dynamics in the BFSI sector. Here are the top 3 trends of IP Video Surveillance and VSaaS:
Integration of AI and Video Analytics
Integrating artificial intelligence (AI) and video analytics is the most significant trend in the IP Video Surveillance and VSaaS market. With the integration of AI and machine learning, video analytics has become more advanced, leading to improved security, operational efficiency, and business intelligence. There have been significant advancements in video analytics systems for public surveillance. These advancements include improvements in object detection, tracking, classification, behavior analysis, and optical character recognition for Automated Number Plate Recognition (ANPR).
For example, Hikvision released two 7-series DeepinView, AI-powered license plate recognition (LPR) cameras in April 2023. This release indicates the continued growth and innovation in the IP surveillance and VSaaS industry. These advanced cameras with 4 MP resolution are specifically designed to enhance security for end-user parking lots and garages, showcasing the expanding applications of IP cameras beyond traditional security settings. With the integration of AI technology, these cameras can provide more advanced features, such as LPR, which can automate parking management and improve overall safety. The introduction of such advanced technology in the IP surveillance and VSaaS industry highlights the continuous evolution of these technologies to meet the growing security needs of businesses and individuals.
Integration with Other Business Systems
Integration with other business systems is a rising trend in the IP surveillance and VSaaS industry, because it allows businesses to leverage the power of video surveillance in new and innovative ways. Companies can improve operational efficiency, enhance security, and gain valuable business insights by integrating IP video surveillance and VSaaS with other business systems, such as access control, alarm systems, POS systems, CRM systems, and BI systems.
For example, Honeywell Security Group launched IP vigilance systems with ONVIF integration in September 2022. This is a significant development in the IP surveillance and VSaaS industry. This feature will allow the procedures to be integrated with other business systems, such as alarm systems, POS systems, CRM systems, and BI systems, making it easier for businesses to monitor their operations and enhance their security. This integration will enable companies to leverage the latest technologies to record and manage video footage, providing better insights and information to make informed decisions. The integration of Honeywell Security Group’s IP vigilance systems with other business systems reflects that the trend in the IP surveillance and VSaaS industry is moving toward providing more comprehensive and integrated security solutions that cater to customers’ evolving needs.
Availability of Mobile Access for Convenience
Gone are the days when big websites had to depend on outdated and complex analog camera systems that were difficult to install and had limited functionality due to cable length constraints. With the advent of wireless IP camera arrays, installing them anywhere as needed and integrating them smoothly with other IP-ready devices has become effortless. Today’s IP cameras offer a simplified installation and advanced operational functions and generate significantly superior video data quality. With IP cameras, the image resolution can be up to 6 to 20 times higher than analog cameras, resulting in broader viewing areas and much finer details while zooming in. Additionally, teams can remotely control, adjust, and monitor all active devices.
For example, Clipsal by Schneider Electric released new Wiser indoor and outdoor security cameras in July 2022. This indicates a growing trend in the IP surveillance and VSaaS industry toward providing more advanced and versatile security solutions. With a surge in demand for smart home devices, customers seek security systems that can seamlessly integrate into their existing setup. The Wiser Smart Home Security solution caters to this need by offering electricians and builders a system that can be used as an add-on to existing Wiser systems or as a standalone solution. The indoor cameras provide a wide viewing angle of up to 340°, with features like full-HD recording, remote accessing, motion tracking, and pan and tilt control, enabling customers to monitor their property more comprehensively. The introduction of such advanced features and versatile solutions in the IP surveillance and VSaaS industry highlights the trend toward providing more integrated, adaptable, and user-friendly security solutions that cater to the evolving needs of customers.
Conclusion:
IP video surveillance and VSaaS are vital technologies that can enhance security and productivity in several industries. These technologies can help prevent theft, fraud, and other criminal activities by providing real-time monitoring of critical areas. They can also be used to optimize operations and improve employee performance, ultimately improving the customer experience. Investing in IP video surveillance and VSaaS is a smart decision for any business looking to enhance its security and productivity.
About the Author
Sunanda Ghosh is a researcher with more than 3 years of experience. She has a passion for understanding consumer behavior and market trends, and uses her skills in innovative ways to gather and analyze data. Throughout her career, she has worked with a diverse range of global clients across various industries including technology, semiconductor, and energy. She is dedicated to providing valuable insights that can help shape a company’s direction and drive success.
The author can be reached at sunanda.ghosh@nextmsc.com
