Market research firm IHS on Tuesday released its annual whitepaper outlining the top trends it expects to see in the video surveillance market in the coming year. As with most years, IHS is predicting that demand for video surveillance solutions will continue to increase as the global market is expected to grow by more than 12 percent in 2014. The emergence of big data is also anticipated to be a big focus within the industry. Here’s a look at the top 10 video surveillance trends for 2014 along with what Niall Jenkins, research manager for video surveillance and security services at IHS, had to say about each:
1. Video Surveillance: The Star Markets for 2014
IHS has been researching the video surveillance equipment market for more than 10 years. During this time, the market has grown quickly, most years at a double digit rate. The year 2014 will be no exception. IHS forecasts that the global market will grow by more than 12 percent. Within the global market, IHS has identified fixed-dome and 180/360-degree network cameras as the fastest growing product segments, and the city surveillance and utilities/energy sectors as the vertical markets to watch.
2. Big Data: Crowd Sourcing Video Surveillance and Social Media Analytics
The prevalence of smart phones, with cameras and internet connectivity—combined with social media apps such as Vine or Instagram—has led to the first “crowd sourced” data collection for an investigation in 2013, following the Boston Marathon bombings.
Now that the trend has begun, IHS predicts it is likely that police forces will increasingly request, and need to manage, crowd sourced video surveillance data. While this will allow law enforcement agencies to react more quickly, especially with the use of social media monitoring, it will also create data analysis and manipulation challenges. Meeting these challenges will provide systems integrators and software vendors with a new opportunity to create solutions that improve police incident responses in 2014 and beyond.
3. Cloud-Based Video Surveillance Opens Markets in China
In China, the concept of the cloud is becoming increasingly popular, especially as the telecom infrastructure matures. As network bandwidth improves and network product pricing declines, cloud-based video surveillance solutions are drawing the attention of more suppliers. While a cloud based solution is not a compulsory choice, it does represent a great opportunity to leverage the massive demand for civil video surveillance.
With more attention and an increasing customer base, IHS predicts that cloud-based video surveillance solutions will be defined by the value created in the applications it offers to customers. With more than one billion potential users in China, getting the right mix of product and security features will be a successful combination.
4. Thermal Cameras Hit the Commercial Market
IHS forecasts that the video surveillance product market that will see the largest average selling price (ASP) decline during the next few years will be the un-cooled thermal camera market. While the number of un-cooled thermal camera units shipped to the commercial security industry suggests that the market has not yet been commoditized, increased competition, new products and new end-user markets will mean 2014 is a breakthrough year for the technology.
5. Panoramic Cameras – Providing the Full Picture
The big video surveillance camera category winner in 2014 will be 180/360-degree panoramic network cameras, with global unit shipments forecast to increase by more than 60 percent year-on-year, according to IHS. In particular, the cameras are predicted to gain market share in verticals such as retail, airports and casinos, where monitoring wide indoor areas is a key requirement of the video surveillance system.
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