Video surveillance has emerged as a key security technology in the fight against terrorist attacks, according to consulting company Frost & Sullivan.
According to the company, end users are becoming aware of the benefits that video surveillance software products offer in terms of faster, real-time, more reliable surveillance, remote accessibility, cost savings and better overall management of video surveillance systems. The software products also allow reduction of human intervention in video surveillance and are characterised by better alarm rates, easy retrieval of video information, as well as improved video content analysis.
The global video surveillance software market, currently worth USD153.7m, is projected to experience a compound annual growth rate (CAGR) of 23.4% from 2004-2011 to reach USD670.7m. The USD44.3m video surveillance software market in Europe, Middle East and Africa (EMEA), which presently trails the Americas market in terms of revenues and growth rates, is estimated to record a CAGR of 23.0% over 2001-2011 to touch USD188.3m.
According to Frost & Sullivan, the growth will be partly derived from the expansion of network-based systems including local area networks (LAN), wide area networks (WAN) and the web.
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