Over the last few years, the video analytics technology has considerably evolved in terms of its innovative features and efficiency. Previously, analytics were only deployed across available to large government or corporate organizations equipped with advanced servers to run the underlying high-end applications. But now, the rapid advancement in analytic engines has increased the processing power of cameras and servers, paving a productive path for users working in diverse environments. Technically speaking, analytics can effectively operate on cameras or servers running a wide array of applications or video streams.
According to Research and Markets’ report, the video analytics market size is expected to grow up to 4.23 bn USD by 2021, at a Compound Annual Growth Rate (CAGR) of 20.2 percent. The report also states that the market is driven by factors such as the ever-rising security threats, constant need for intelligent surveillance mechanisms, and demand of video analytics technology for non-security purposes. Moreover, there has been a widespread deployment of crowd management applications as they help end-users to identify and count the number of people at specific entry and exit points within the premises in real-time or periodic reporting. In an innovative manner, the technology identifies the area that needs maximum security––helping end-users in the decision making process.
Below mentioned are the benefits of video analytics software in today’s technology-driven era:
An Exceptional Level of Business intelligence
Long gone are the days when analog CCTV cameras were used as the primary solution for security. Today, IP network cameras have indeed etched a positive impact on the entire surveillance landscape by offering best-in-class video analytics embedded with business intelligence capabilities. Implementing such video analytics solution, end users can gain actionable insights for personal safety, marketing, business management and more. To facilitate this, video analytics includes advanced functions such as queue monitoring and heat mapping for the hospitality and retail stores. It also helps in people counting, motion detection, facial recognition, and license plates.
Processing Power will be the Key to Enormous Possibilities
The processing power of cameras and servers play a vital role in driving organizations towards enhanced efficiency in the realm of video analytics. As an advantage, the processing power of today’s cameras and servers are growing abruptly; while the prices are gradually declining. Thus, in days to come, we can foresee a scenario where cameras will be able to seamlessly host a wide range of analytic functions.
As the number of cameras increases overtime, the complexity involved in video surveillance also increases. Thus, video analytics will help operators to make informed decisions by delivering information which is reliable in every aspect––improving the effectiveness and response time of the entire video surveillance scenario.
Things to Be Considered Before Choosing a Video Analytics Software
Today, most video analytics software for security cameras are available in the marketplace in three forms: 1) Installed on the camera, 2) Installed on the NVR, and 3) as a 3rd party software. Depending on the manufacturer and application, each software solution will work in a different manner. But, the basic mode of operation and the end result will always be the same.