What Does the Future Hold for the Video Surveillance Market?

<span id="hs_cos_wrapper_name" class="hs_cos_wrapper hs_cos_wrapper_meta_field hs_cos_wrapper_type_text" style="" data-hs-cos-general-type="meta_field" data-hs-cos-type="text" >What Does the Future Hold for the Video Surveillance Market?</span>

Dec 07

Dec 07

Physical Security

What Does the Future Hold for the Video Surveillance Market?For years, security-industry experts have predicted that video surveillance would keep growing at a rapid pace, with many reports putting the global industry above the $70 billion mark by 2022—or earlier. Then, IHS Research found that surveillance growth had slowed in 2015, causing many value-added resellers (VARs) to wonder what is next for the technology.

Luckily, it appears the 2015 slowdown will be short-lived. IHS reported that slow growth of the surveillance market in China, due to price erosion in the highly dynamic country, was a key contributing factor to the global dip in growth. However, China is expected to have higher revenue growth in 2016 and beyond, which should set the global market back on the original track.

Assuming this growth trend continues, video surveillance still stands out as one of the key technologies in any VAR’s physical security product lineup. And as you prepare for continued growth, it’s important to stay adaptable to new innovations and challenges.

Let’s take a look at some of the key trends that are likely to impact video surveillance in the coming years:

Falling prices around the globe

As more manufacturers enter the surveillance field, the end user benefits with lower technology prices. From a VAR’s perspective, this can also be beneficial. More affordable products open up your business offering to a greater swath of customers—even those who need only one or two cameras.

Greater capabilities

Of course, surveillance technology will only continue to advance, and end users will enjoy greater capabilities with every passing year. Already, 4K resolution has started to truly take hold throughout the industry. In the coming years, 8K (and beyond) will likely become the norm, providing a level of detail that is currently unattainable with security cameras.

Meanwhile, some experts expect frames per second to also increase dramatically. Consider the fact that in machine vision systems, cameras can easily produce 1,000 fps. It’s likely that this type of technology will gradually be adopted in video surveillance systems, which could lead to greater detection capabilities in a wide range of applications.

Improved interoperability

With each passing year, video security systems grow even more streamlined. Today, the technology can more readily adapt to both existing and new systems, making integration easier than ever before.

For VARs, this continues to open up new possibilities for broader integration with other related building systems. In the coming years, you might find yourself considering how to best incorporate platforms such as lighting, heating, and ventilation into your broader security product offering. Not only does this provide customers with potential cost savings and improved ease of use, but it also helps create “stickier” customers and makes your business less prone to security-industry fluctuations.

Analytics for all

Video analytics continues to grow in popularity, particularly as cameras with embedded analytics capabilities continue to become more affordable. This is a trend that is very likely to continue; in fact, Bosch just announced that it will make video analytics at the edge a standard feature on all its IP cameras.

Panoramic perks

Finally, panoramic, or 360-degree, cameras are also expected to explode in popularity. Thanks to advances in “de-warping” technology, today’s panoramic cameras provide crystal-clear surveillance video that is extremely beneficial in a wide range of environments. Best yet, they cover large areas, so your customers can typically use fewer cameras than they would otherwise need.

What are some of the biggest surveillance trends within your local market? What verticals seem to be growing the most this year?

Topics: News and Trends

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