The security industry is constantly evolving as new technologies and business strategies impact the market. Every now and then, we come across new developments that change the direction of demand. For some, this change and its speed can be overwhelming, but it is a reality that industry players must face.
For example, one recent development has been the migration from legacy security systems to cloud-based surveillance and access control systems. Commonly known terms such as video surveillance as a service (VSaaS) or access control as a service (ACaaS) are becoming more common among some users.
According to Markets & Markets, the VSaaS market is expected to reach $2,390.9 million by 2017, growing at a compound annual growth rate of 31.5% from 2012 to 2017. On the other hand, according to the results, the global access control as a service market is expected to grow at a compound annual growth rate of 24% from 2016 to 2020. Some reports, such as IHS, cite that the ACaaS market is expected to exceed $530 million in 2018 and reach $1.8 billion by 2025.
Factors such as the availability of better and more affordable bandwidth are among the factors that have driven such rapid growth in this sector. While these reasons are obvious and obvious, what is interesting from an industry and market perspective is the advancement of technology itself. Security as a service is no longer just about video surveillance and cloud access control, but is also increasingly related to analytics and more precise solutions.
Video analytics can be considered as one of the key and influential sectors in the future security industry. The availability of these analytics as a hassle-free and affordable service makes customers more willing to use them.
Currently, offices and Security agencies are demanding centralized management of surveillance assets and central situational awareness. This demand is part of their need to better prepare for threats such as terrorism. The reduction in computing costs on edge devices and the need for manufacturers of legacy network cameras to differentiate themselves in the highly competitive market has enabled new use cases for video analytics outside of security.
Despite the size of the existing market, this area is not without its challenges. For example, a facial recognition system will not be effective if there is no database to match the captured images. The Facewatch platform was created to address this challenge.
Facewatch is a platform that works closely with the police and enables businesses to digitally and online report crimes. The platform enables businesses to collect images of committed crimes.
A growing sector
With concerns about bandwidth and costs decreasing, analytics will undoubtedly become more common in the not too distant future. More people will adopt cloud as a service. The fact that installers are building innovative systems to address these challenges is a clear indication of this.
But despite the assurances of many companies, concerns about issues such as the security of recorded data will always remain. Finally, another issue is how successful installers are in convincing customers of the benefits of cloud connectivity compared to its risks.
Taken from a&s magazine