In recent years, video analytics has significantly transformed the interpretation and utilization of visual data. Through advanced algorithms and artificial intelligence methods, video analytics can perform tasks such as object detection, tracking, behavior analysis, facial recognition, and anomaly detection on recorded or live video streams. The primary objective is to convert raw video data into valuable insights applicable across various domains such as retail, healthcare, transportation, and security.
This advanced technology enhances surveillance, improves operational efficiency, and strengthens security protocols. By utilizing AI and machine learning, organizations can now extract insights from video content that were previously out of reach, enabling data-driven decisions and enhancing performance. According to a recent report published by Allied Market Research, the global video analytics industry is anticipated to showcase a remarkable CAGR of 22.7% during the forecast period.
The evolution of video management systems through IP-based surveillance and advanced analytics
There has been a notable surge in the adoption of IP-based surveillance systems, driven by the availability of high-resolution IP cameras and network video recorders (NVRs). This growth is further attributed to the expansion of IP infrastructure, increased tele-density, and a growing demand for remote accessibility. Leading companies are responding by expanding their product offerings to include integrated video analytics features in IP-based security solutions. For instance, Bosch launched its “IP 3000i Cameras” in October 2019, which feature built-in video analytics capabilities.
The advantages of IP-based security cameras combined with advanced video analytics are manifold. They allow for remote viewing, smart data capture, and features such as identifying blocked emergency exits, managing queues, detecting intrusions, monitoring crowds, and even facial recognition. These technologies are widely used in various industries, such as retail, to effectively study customer behavior and demographics using IP-based cameras.
The increasing use of IP-based security cameras in various industries highlights the growing demand for robust video analytics solutions. This evolution enhances security measures, improves operational efficiency, and facilitates gathering business intelligence. For example, in the retail sector, IP-based security cameras equipped with advanced video analytics can offer valuable insights into customer behavior. By analyzing demographic data and shopping patterns, retailers can optimize store layouts, improve product placement strategies, and personalize marketing efforts, thus enhancing the customer experience and increasing sales potential.
Enhancing security through AI and machine learning in video analytics
Enhancing security with the help of AI and machine learning in video analytics involves using advanced algorithms to analyze video streams in real-time, thus improving the ability to detect and respond to threats. AI can detect unusual behaviors, identify individuals, and categorize objects, reducing the necessity for manual monitoring and enhancing accuracy.
For example, AI-powered video analytics have the ability to detect suspicious behaviors, such as unauthorized access or abandoned objects, in airports or train stations. These systems can also recognize specific individuals through facial recognition, aiding in tracking persons of interest or improving access control in secure facilities.
Furthermore, machine learning algorithms can learn from previous incidents to refine their detection capabilities over time, adapting to emerging threats and enhancing security effectiveness. By integrating artificial intelligence into video analytics, organizations can achieve proactive security measures, faster incident responses, and more robust surveillance systems capable of handling complex environments with minimal human intervention.
Awiros implements AI-powered video analytics in Bengaluru’s Safe City project
On October 14, 2022, Awiros, a technology startup focused on advanced technology, announced a strategic collaboration with the Bengaluru City Police to enhance the city’s surveillance capabilities as part of the Bengaluru Safe City project. This initiative, supported by India’s Ministry of Home Affairs through the Nirbhaya Fund, aims to create a safer environment for women and girls in public spaces using cutting-edge technology.
Awiros implemented its video intelligence platform powered by artificial intelligence, which includes features like facial recognition and automatic number plate identification systems. This platform analyzes footage from over 7,000 high-resolution cameras installed across 3,000 locations in Bengaluru. The technology enables real-time monitoring and analysis of situations, enabling law enforcement to take preemptive actions against potential crimes, particularly those affecting women and children.
Yatin Kavishwar, Co-Founder and COO of Awiros emphasized the significance of deploying locally developed technology on such a large scale. He highlighted its role in enhancing citizen safety through capabilities such as suspect identification, real-time intelligence gathering, and ongoing monitoring of criminal activities.
Collaborative strategies for success in competitive industries
Major industry players are making significant investments in advancing video analytics capabilities through extensive research and development initiatives. Their primary goal is to enhance algorithms, features, and overall performance to meet evolving industry demands. Simultaneously, they are also focused on developing user-friendly interfaces and providing scalability and customization options.
Moreover, these companies are implementing strategic collaborations with technology partners, system integrators, and industry stakeholders to broaden the accessibility of video analytics solutions on a global scale. For example, in May 2023, VinAI partnered with Qualcomm Technologies, Inc. to launch GuardPro, an AI-powered safety and compliance solution designed for smart cities. This solution emphasizes real-time monitoring of residential and commercial buildings in smart cities, aiming to improve safety measures and ensure adherence to regulations.
On the other hand, in May 2023, Claro Enterprise Solutions, a leading company in cybersecurity and IT services, introduced a new AI Video Analytics product developed by Iveda. This innovative solution aims to improve monitoring in public spaces, including schools and campuses.
To sum up, the rapid evolution of video analytics, fueled by AI and machine learning, is transforming surveillance across various industries. These advancements are enhancing security, streamlining operations, and enabling data-driven decision-making, resulting in safer, smarter, and more efficient environments for all.
How Has Video Analytics Enhanced Security and Efficiency?
Video analytics uses advanced algorithms and AI to derive valuable insights from video data, continuously monitoring in real-time. It enhances security measures, improves operational efficiency, and facilitates data-driven decision-making in various industries such as retail, healthcare, and public safety. This technology is revolutionizing global surveillance techniques and enabling proactive security measures.
About the Author
Harshada Dive is a Computer Engineer who loves to experiment with trending topics and is passionate about presenting these topics creatively to her audience. When Harshada’s not writing, she is either gardening or listening to inspirational podcasts.
For More Details About This Topic: https://www.alliedmarketresearch.com/video-analytics-market