Europe and the UAE will see a surge in the deployment of advanced video technologies according to new research conducted by the global market intelligence firm IDC and sponsored by Milestone Systems.
Technology developments in artificial intelligence, image processing, cloud computing, and sensors are rapidly expanding organisations’ application of video and sensor technology and the business outcomes they deliver. “Video technologies are moving from a pure ‘insurance’ and security purpose to a real business differentiator, e.g., in citizen service, product quality, patient care, and customer experience,” said Malou Toft, VP EMEA, Milestone Systems.
Rapid expansion
According to the report, the majority (84%) of European and UAE organisations plan to deploy advanced video technologies, such as video analytics and sensor information over the next 24 months. Regionally and in the UAE in particular, 63% of organisations are also planning to roll out the same technology.
The report also indicates that 26% of organisations in Europe also plan to establish a video technology platform centrally, which would be connected to other existing technologies compared to 50% in the UAE.
Organisations around the globe are expected to spend US$2 billion in 2021 in Video Surveillance Analytics. Transport and logistics firms have also shown the most advanced level of maturity in terms of video technologies usage, the report reveals. The UAE is largely expected to focus on a number of critical areas including, access control use, environment monitoring, on-site security, remote asset monitoring and line inspection.
Over the next 24 months, organisations in the UAE also plan to develop crime detection, prevention, and fornices by 33.3%, traffic analysis by 66.67% and predictive maintenance by 66.67%.
According to the report, critical infrastructure has shown the most advanced level of maturity in terms of video technologies. The UAE has also made meaningful strides in the investment and development of its critical infrastructure. However, in the next 24 months, the report indicates that businesses in the UAE will be mostly focusing on developing leakage and smoke detection by 62.5%, fleet management by 37.5%, and remote asset monitoring by 25%.
Requirements
Among the key capabilities required over the next three to five years, buyers highlighted process automation, facial recognition, smart analytics, artificial intelligence, and centralised cloud-driven deployment.
“Bottom line is that businesses and public institutions are actively planning for and expecting new technologies to be deployed with video analytics solutions, to enable a wider set of advanced use cases to be delivered. These new use cases can help enterprises deliver new digital experiences, generate digital revenues, or drive greater operational efficiencies and ultimately remain competitive in the new digital economy,” said Bo Lykkegaard, Associate VP, European Software Research, IDC Europe.
Concerns
Three departments are typically involved in leveraging advanced video technologies: Security, technology and operations. Survey respondents across these three departments highlighted concerns over privacy, data protection and security compliance. “It demonstrates that privacy and security risk mitigation should always be key activities when building a business case to apply advanced video technologies. Organisations should be careful to choose the technology and service providers who adhere to the highest cybersecurity and privacy protection standards,” said Toft.
To learn more, click here.
