Monday
Aug022010
SIA: Video Analytics Can Cut Per-camera Cost
Monday, August 2, 2010 at 11:31AM
In a recent report, the Security Industry Association, the leading trade group for businesses in the electronic and physical security market, has found that video analytics and other "enabling technologies" can sharply reduce per-camera costs for leading companies. And now that the industry is acknowledging this fact, manufacturers, integrators and end users are sure to take notice.
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 percent, 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 SIA update noted. "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 reported 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 percent consider current conditions to be "good to excellent" and 93 percent 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.
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 percent, 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 SIA update noted. "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 reported 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 percent consider current conditions to be "good to excellent" and 93 percent 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.
