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Video analytics can cut camera cost, says SIA report

Video analytics and other "enabling technologies" can reduce per-camera costs for leading companies, according to a report included in the latest Quarterly Research Update from the Security Industry Assocation (SIA).


July 29, 2010
By Staff

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Among companies identified as having "best-in-class performance" — as determined by data on security-related incidents, human error and staffing levels — the use of enabling technologies cuts per-camera costs by 67 per cent, and "their guard force is successfully assessing, prioritizing, and taking action on five times more alerts per camera per day," according to a study conducted by The Aberdeen Group.
"The primary purpose of video analytics technologies is to get more value from existing video surveillance investments: to extract more effective information, and to do so in a more timely way," the Update notes. "Video analytics solutions are designed to identify the needles in the proverbial haystack — the exceptions, incidents, or events that really matter — to assist guards and operators in their decision-making process."
The 18-page Update also reports that:
•    The SIA Business Confidence Index dipped in the second quarter. The survey of 100 CEOs of companies that are members of SIA, however, found that 53 per cent consider current conditions to be "good to excellent" and 93 per cent think conditions will get "much better."
•    Remote video monitoring is "experiencing impressive growth which will continue to accelerate as the global economy recovers and technology improves."
•.   Security monitoring revenues have held steady despite the recession.
•   Nine out of 10 retailers have been victims of organized retail crime.
•  The video surveillance storage market is expected to grow to $5.6 billion by 2013.


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