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Where Is the Video Surveillance Market Headed?

May 04, 2017

Where Is the Video Surveillance Market Headed?

 

 

The video surveillance market is among one of the fastest-evolving technology segments in the world today. As security threats grow every year, the global investment in camera systems only accelerates, while manufacturers work to provide the most advanced features and highest level of security possible. With so much change happening every year, many value-added resellers (VARs) are left wondering “Where is it all headed?”Let’s take a look at the direction of the video surveillance market over the next few years:

Exponential Growth

The video surveillance market is growing at an annual rate of about 16.6 percent, with no signs of slowing down. This growth is fueled by many factors, including increased risk of terrorism and gun violence in many countries, greater awareness of surveillance technologies, and growing government investments into security systems.

And this growth is happening in nearly every corner of the globe. According to SDM magazine’s State of the Market report, 59 percent of VARs and integrators say their potential for sales in video surveillance is very good or excellent—proof that the overall growth trend is benefiting most individual resellers as well.

New Advanced-Feature Sets

Newer innovations like IP cameras, video analytics, and video surveillance as a service are all here to stay, and their rate of adoption will only continue going up. In fact, 18 percent of organizations already use video analytics, and an additional 52 percent plan to incorporate it into their security systems, according to recent research conducted by IFSEC Global.

As these well-established capabilities continue to grow in popularity, expect to see new ones emerge and take hold. We expect many of these to leverage cloud capabilities, such as hosted video storage and viewing, as well as remote monitoring.

While these types of advanced features become increasingly ingrained in surveillance systems, physical security and IT will continue to become more dependent upon each other. If you haven’t already familiarized yourself with key IT systems and networking basics, now is the time to do so and get ahead of your competition.

Enhanced User-Friendliness

Another key focus in the coming years will be greater user-friendliness. Expect to see user interfaces that are easier than ever to navigate, as well as systems that encourage plug-and-play installation and faster set-up—benefiting both you and your customers.

A large part of this evolution will be greater mobility. Today’s end users require anywhere/anytime access to their video surveillance solutions using mobile technology. It’s likely that manufacturers will make this a cornerstone of their systems in the coming years, so be sure to incorporate these capabilities into your own product offering.

Broader Technology Applications

A growing number of customers are beginning to leverage their video surveillance investments in other ways, such as for merchandising and marketing efforts, to achieve customer service improvements, and to gain business intelligence. In the IFSEC survey, 31 percent of respondents said they already use their video analytics for business intelligence, while an additional 18 percent said they would like to.

This is a clear indication of a trend toward broader applications for surveillance technology—an evolution that stands to help both you and your customers. From your customers’ perspective, gaining additional uses out of a technology investment helps mitigate its cost and improve their return on investment. And for VARs like you, these multi-function applications provide a strong selling point for customers in retail, hospitality, events, and many other verticals.

Considering these fast-moving changes, how much of your physical security business do you expect to come from video surveillance in the coming years? Do you plan to focus more or less attention on surveillance in the future?