New advancements in Artificial Intelligence (AI) and edge computing for video analytics will drive the global installed base of video surveillance cameras to 1.2 billion in 2030, according to ABI Research.
“By harnessing new advancements in AI and edge computing, all areas of a business can consider surveillance cameras as intelligent Internet of Things (IoT) devices that can gather data and issue alerts without human intervention,” said Lizzie Stokes, IoT hardware & devices and IoT networks & services analyst at ABI Research. “The surveillance cameras on the market today are smarter and more powerful than their predecessors, prompting more companies to view cameras as accurate sensors that can predict human behaviour.”
According to ABI, marketing and HR departments are investing in smart video solutions for operational efficiency. Cameras are being used to track customer satisfaction and to monitor employee safety. Other uses for smart cameras include the detection of defective products on factory floors and to optimize road traffic.
The surveillance market is also benefiting from a wider assortment of technology such as body-worn cameras.
“The video surveillance industry experienced higher growth a decade ago and has since grappled with international disagreements, privacy concerns, and the threat of increased regulation. Though the market is maturing now, it has the potential to be transformed by new, value-adding use cases and form factors,” added Stokes.
Further findings are available in ABI Research’s Video in IoT: Trends, Use Cases, and Connectivity Technology analysis report.
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