The recent attacks to national security and the rising crime activities worldwide have compelled governments to scrutinize their existing security measures. The demand for resilient and secure infrastructure is therefore at all-time high. As governments and private organizations look for advanced technologies for improved security, the demand for video surveillance and VSaaS market will rise in response. Given the scenario, persisting investments in infrastructure such as railways, roads, airports, and communication networks are fuelling the demand for video surveillance and VSaaS solutions.
Video surveillance, AKA closed-circuit television (CCTV), is not openly transmitted, though it may employ point to point (P2P), point to multipoint (P2MP), or mesh wired or wireless links. Though almost all video cameras fit this definition, the term is most often applied to those used for surveillance in areas that may need monitoring such as bars, banks, casinos, schools, hotels, airports, hospitals, restaurants, military installations, and other areas where security is needed.
NTT Security, the specialized security company of NTT Group, has launched its 2017 Global Threat Intelligence Report (GTIR), which analyzes global threat trends based on log, event, attack, incident and vulnerability data [1 October 2015 to 31 September 2016]. Analyzing content from NTT Group operating companies, including NTT Security, Dimension Data, NTT Communications, NTT Data, and data from the Global Threat Intelligence Center (formerly known as SERT), the report highlights the latest ransomware, phishing and DDoS attack trends and demonstrates the impact of today’s threats against global organizations.
The need for enhanced security and demand for gathering insights from customer behavior is driving the video analytics market globally. The market for video analytics is anticipated to expand at a CAGR of 20.6% during the forecast period from 2015 to 2023. The global video analytics market was valued at US$ 1,709.0 Mn in 2014. Some of the key factors driving the growth of the video analytics market include the expanding range of vertical applications, a growing trend toward bringing retail outlets and commercial premises under video analytics due to security concerns and the need to monitor and understand the environment around the premises.
Consumers see more clearly how home smart devices can directly benefit their lives, and are planning to purchase more smart home devices in the future. Those are the key insights from a consumer survey commissioned by PlumChoice, Inc., the leading provider of premium technical services for IoT and cloud brands, and the Z-Wave Alliance, an open consortium of leading global companies deploying Z-Wave. This second annual consumer benchmark survey 2016: Year of the Smart Device also highlights the need for companies to provide consumers a user experience that allows their smart home devices to fit easily into their lives.
The Video Surveillance market was valued at US$30.37 Billion in 2016 and is projected to reach US$75.64 Billion by 2022, at a CAGR of 15.4% between 2017 and 2022, according to research published by published by MarketsandMarkets. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022. Implementation of video analytics, increased installation of video surveillance systems, usage of cloud-based services for centralized data, use of high-definition cameras, and the need for physical security are the major factors driving the growth of the video surveillance market. Growing safety and security concerns, rising crime rates, and increasing terror attacks are some of the factors driving the growth of the camera subsegment of the hardware segment. Continuously decreasing prices of cameras have resulted in an increase in the adoption of surveillance cameras across the globe. With the increasing use of cameras, the servers, storage devices, and monitors subsegments of the hardware segment are also growing at a significant rate.
Editor’s Note: After much discussion, Security.World is publishing this announcement by Persistence Market Research for their most recent market research report Video Surveillance Storage Market: Global Industry Analysis and Forecast 2016 – 2022. This US$4,900 report seems compelling in its presentation of data and information. However, when inspecting the research companies that are claimed to be ‘key vendors’ – and the lack of well known physical security / video surveillance storage companies (i.e. Pivot3, Promise, Quantum, Spectra Logic, BCDVideo, etc) the entire article becomes suspect at best. Before spending $5,000 on market research, review many of the storage market leaders that Security.World showcases and decide if this report is worth your support.
NTT Security today issued its quarterly Threat Intelligence Report, which underscores the need for more advanced tools to protect organizations’ data and networks from the evolving tactics, techniques and procedures (TTPs) used by cyber-attackers. A topic of considerable public attention is the ability to determine the source of cyber-attacks to determine their credibility and motivation.
Information and analysis company IHS Markit has made its predictions for electronic access control for the year 2017. According to its report, the access control market will increase this year by 6.8%, exceeding $4.2 billion. The company says deeper integrations with video surveillance, business processes and IOT will ensure that access control continues to play a larger role in enterprise. IT, integration and mobility (remote connectivity) specialists are expected to see more growth as logical/physical security integrations together with remote services such as access-control-as-a-service are expected to be some of the top trends. Mobile credentials and biometrics will be two of the top hardware trends to watch.
Demand for video surveillance equipment is likely to continue growing rapidly in 2017, however, price competition will remain intense. In its complimentary whitepaper, IHS Markit forecasts the world market will grow at an annual rate of less than 7%. Competition will not make it easy for vendors to grow revenues and margins. Some will fail in this regard and further consolidation of the supply base is inevitable. However, there will be opportunities for well-placed vendors and some end-user sectors will also grow quickly. So, what will be the big stories in 2017? Get your copy of this complimentary report.