Video surveillance equipment market to grow by $1.7B this year

Video surveillance equipment market to grow by $1.7B this year

The global professional video surveillance market is growing, and a new biometric partnership and technologies demonstrated at the recent IFSEC 2019 exhibition are attempting to meet the increase in demand.

IHS Markit’s “Video Surveillance Intelligence Service” report forecasts an increase in worldwide market revenue for video surveillance equipment from $18.2 billion in 2018 to $19.9 billion this year, driven by demand for improved security, public safety, and business intelligence systems, in particular from China. Growth of 9.3 percent this year follows years of 8.7 percent and 9.3 percent growth in 2018 and 2017, respectively, after growth of only 3.9 percent in 2016 and 1.9 percent in 2015.

“The professional video surveillance equipment market’s recent growth reflects the continued high spending on security in both the public and private sectors,” says Jon Cropley, senior principal analyst, video surveillance, at IHS Markit. “On the public side, governments are investing in video surveillance equipment to enhance citizen safety and to equip smart city projects. In the private sector, companies are adding video surveillance gear to combat crime and to gather new types of business intelligence.”

China accounted for 45 percent of the global market, with 13.5 percent growth. The global market excluding China grew by only 5 percent.

“A major factor propelling China’s higher growth is the government’s Xue Liang program, which promotes investment in both city surveillance projects and the extension of city surveillance systems into surrounding rural areas,” Cropley continues. “The Xue Liang program is forecast to conclude in 2020, causing China’s growth to decelerate after that year. However, in the meantime, Xue Liang will continue to generate strong growth for the Chinese and global surveillance equipment markets.”

While still fragmented, the surveillance market has become more concentrated, with top 15 vendors making up 65 percent of global revenue in 2018, up from 52 percent in 2014. Network (IP) cameras made up 70 percent of all security cameras shipped in 2018, according to the report, while shipments of HD CCTV (or analog HD) cameras decreased.

ISS and DEFTEC partner to supply biometrics to U.S. military

Intelligent Security Systems (ISS) and U.S. military data sciences provider DEFTEC have formed a strategic partnership to bring its biometric facial recognition, license plate recognition, and other technologies to the domestic military market.

DEFTEC is now offering ISS SecurOS Face X, which provides facial recognition tolerant of different camera angles, facial expressions, and lighting conditions. The defense contractor will also offer ISS SecurOS UVSS (under vehicle surveillance system) and ISS SecurOS Auto-License Plate Recognition.

“DEFTEC is unlike any technology partner of ISS. Their solutions are truly unique, providing our military with higher levels of intelligence to improve operations and ultimately save lives,” says ISS CEO Aluisio Figueiredo. “We are extremely pleased that DEFTEC will be offering several of our intelligent video surveillance solutions to supplement their impressive portfolio.”

“This unique technology partnership allows DEFTEC to tap into ISS’ vast experience and expertise in facial recognition, under-vehicle surveillance systems (UVSS), and license plate recognition,” comments DEFTEC Corporation CEO Barbara Reeder. “ISS intelligent analytics-driven solutions will help improve the security and efficiency of U.S. military operations, and ultimately help save lives.”

IFSEC event

The recent IFSEC 2019 in London featured machine learning systems for video analytics to reduce false alarms, monitor stock on shelves, or gain insights into customer demographics and shopping preferences, IHS Markit reports.

Converged security systems, with intrusion detection built into physical systems, were also on display, along with smart building technologies such as cloud services linked to building sensors and automation installations. Gates with numerous sensors connected to building management platforms were offered for automated entrance control.

While IHS Markit reports noticeably less visitors and exhibitors at IFSEC than previous years, it also suggests the AI, cybersecurity and smart buildings products showcase increasing maturity of the technologies.

Related Posts

Article Topics

 |   |   |   |   |   |   |   | 

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Research

Biometrics White Papers

Biometrics Events

Explaining Biometrics