The Electronic Security Market was valued at USD 40.93 billion in 2020 and is expected to reach USD 68.57 billion by 2026, at a CAGR of 8.98% over the forecast period from 2021 to 2026. (Source)
Several factors are driving the e-surveillance trends for 2021 like the shift from tradition to innovation perspectives in companies to achieve the e-surveillance goals of enterprises in order to portray business insights as additional security metrics. By unifying the potential of artificial intelligence, machine learning, and cloud surveillance technology companies have created a secure and stable e-surveillance environment, which is, adding more value to their business. The use of video analytics and rapid cloud adoption is transforming enterprise e-surveillance into a more flexible security arrangement.
AI, along with its popular component, ML, is already accelerating innovation by bringing business intelligence and improved accuracy in detection. Such important achievements would empower e-surveillance services to ensure better security management.
For example, false alarms are the alleged enemy of efficient e-surveillance. In an e-surveillance setup, these are the real bottle-neck for security operators. Redundant alarms surely disrupt the focus of operators. False alarms make it challenging for them to watch the area by disturbing their attention. The utilization of AI and ML allows the e-surveillance system to ‘learn’ what a potential threat may look like. The tools can be taught to detect and differentiate between a vehicle or person or even a bird, etc. The advancement of technology will surely increase accuracy. It will facilitate encouraging more accurate detection and as well as dodge alarms related to natural conditions like birds, wind, or animals. AI and ML will enable businesses to accelerate performance and productivity through e-surveillance. It eradicates wasting time, allows proper resource management, and provides a stable security composition.
In 2021, the more comprehensive adoption of machine learning tools is making e-surveillance services even more precise while reducing costs. When used in post-event search, ML will speed up investigations by enabling filters and rules based on specific criteria or particular objects or behavior, patterns, etc.
E-surveillance hugely adds value to security management to protect your commercial property. But it can be beneficial in several business aspects as well. Video analytics applications are proven to offer valuable business insights and empower businesses in decision-making. From analyzing customer buying patterns, behavior in retail stores, to smart vehicle management in warehouses, companies are adopting video analytics. Even in the new-age e-surveillance landscape, security is the highest priority. But, there is also definite demand for advanced and cost-effective e-surveillance solutions.
The global video analytics market is expected to grow from USD 4.9 billion in 2020 to USD 11.7 billion by 2025, at a CAGR of 19.0% during the forecast period. (Source)
Enterprises are unifying video analytics with e-surveillance services to interpret and prevent crimes, rather than just recording a crime scene. Particularly, businesses are maximizing technology and developing tools around people counting and big crowd gatherings. As well, delivering business-level analytics in e-surveillance has become the new trend in an effort to drive business value.
Along with installing smart e-surveillance services businesses are focusing on cloud storage. Cloud storage technology is not new to the security and surveillance industry but in recent years it has gained immense popularity due to the Covid-19 pandemic. The main reason it is possible is because of the growing promises in high-speed internet penetration with very low latency. The best thing is, businesses of all sizes can avail themselves of cloud storage Opportunities according to their business needs. Cloud storage is flexible enough to store essential video data and businesses can store it securely as long as they want. Anyday, it is better than buying expensive hard-drives and still worry about data leaks or corruption in the case of conventional surveillance storage solutions.
Cybersecurity has constantly been a concern for e-surveillance. But, in 2021. this touched a new height. As numerous devices are connected in large numbers, it is no longer just about protecting the video footage. Today, businesses are prioritizing and implementing cyber-responsible security best practices in order to meet client’s requirements. Enterprises are staying super alert about the rollout patches and zero-day exploits – an advanced cyber attack as soon as vulnerabilities are detected.
As the 21st century progresses countries are strengthening their privacy laws in order to regulate the practice of e-surveillance methods. Thus, it is prompting enterprises to take good care of recorded data as they look to continue operation leveraging e-surveillance services. There is an increased awareness among businesses regarding the benefits of e-surveillance. For example, e-surveillance today can help in enforcing proper hygiene in offices, as well as managing floor occupancy. But, footages must have limited access in office administration as by watching employees in a way you are invading their private space and misusing it can lead to legal penalization. Therefore, as the privacy laws are getting strict, enterprises are adopting the new pre-set rules and keeping their surveillance activities in check.
Modern e-surveillance trends 2021 indicating the extensive use of AI in security arrangements. Video analytics has become an integral part of the e-surveillance ecosystem and already benefiting enterprises to manage security and beyond. The utilization of contactless and secured cloud storage technology has also gained its fair share of popularity.
As the world is recovering from a huge economic crisis, there is a definite demand for services that can improve efficiency at a low-cost. Here, advanced e-surveillance services equipped with intelligent video analytics and cost-effective cloud storage solutions will play a key role.
Meanwhile, cybersecurity in e-surveillance will remain to be a vital concern. Though businesses will look forward to finding new ways to counter it and give greater importance to hardening measures.Categories: