Frost & Sullivan: Need for Security and Business Intelligence to Make Video Analytics an Essential Tool for the End Users of Video Surveillance
By Frost Sullivan, PRNESunday, November 29, 2009
LONDON, November 30 - The need for pro-active security and business intelligence is boosting
the demand for video analytics solutions in Europe, Middle East and Africa
(EMEA). The lack of awareness among end-users about video analytics, coupled
with inflated promises of earlier generation of analytics, resulted in a huge
gap between its capabilities and customer expectations. However, significant
advancements over the years and its current ability to offer intelligent
analysis of video hold promising opportunities in security as well as
non-security applications.
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New analysis from Frost & Sullivan (www.autoid.frost.com),
Analysis of Video Analytics Applications in the EMEA Market, finds that the
market earned revenues of US$48.0 million in 2008 and estimates this to reach
US$264.0 million by 2015. The application segments covered in this research
are commercial, transport and government.
"The falling prices of video analytics are paving the way for increased
adoption, even in small and medium-sized applications," says Frost & Sullivan
Senior Research Analyst Archana Rao. "The ability of the technology to
analyse large volumes of data (video) and distinguish the valuable bits of
information yields significant cost savings in terms of limiting monitoring
personnel."
The shift from reactive to pro-active analysis of video helps prevent
security breaches in addition to achieving cost savings on meagre resources
and the time taken to retrieve data for meaningful analysis. This, combined
with the falling price and integration with business processes, offers all
end users a high return on investment (ROI).
"However, complex technology combined with the relatively slow migration
to Internet protocol (IP) in the video surveillance space and an uncertain
economic environment is hindering the large-scale adoption of analytics,"
explains Rao. "The current video analytics solutions continue to suffer from
the unrealistic expectations set in the early stages of the market.
Additionally, low awareness about its real benefits, the lack of open
platforms and price sensitivity restrain its widespread adoption."
Educating end users about the ROI and setting clear expectations are
critical factors for growth of the market.
If you are interested in more information about this study, then send an
e-mail to Joanna Lewandowska, Corporate Communications, at
joanna.lewandowska@frost.com, with your full name, company name, title,
telephone number, company e-mail address, company website, city, state and
country.
Analysis of Video Analytics Applications in the EMEA Market is part of
the Automatic Identification & Security Growth Partnership Services
programme, which also includes research in the following markets: European
Electronic Access Control Security Markets, European Security Convergence
Market, EMEA Biometrics Market, Distribution Channel Analysis for European
Security Systems, Opportunities in the European Intrusion Detection Systems
Market, North American Government Physical and Logical Security Market, World
Residential Security Market, and Security in the Global Utilities Market. All
research services included in subscriptions provide detailed market
opportunities and industry trends that have been evaluated following
extensive interviews with market participants.
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Analysis of Video Analytics Applications in the EMEA Market M434-11 Contact: Joanna Lewandowska Corporate Communications - Europe P: +48-22-390-41-46 E: joanna.lewandowska@frost.com www.frost.com
Joanna Lewandowska, Corporate Communications - Europe of Frost & Sullivan, +48-22-390-41-46, joanna.lewandowska at frost.com
Tags: Frost & Sullivan, London, United Kingdom