ALTAS IT partners Hanwha Vision, a global and fast-growing company offering a wide range of security and video surveillance solutions, has published its 2024 forecasts on the main trends in the video surveillance industry.
What changes are expected this year?
What is likely to be the surprising factor that will affect almost everyone working in the sector?
These and other questions are answered in the rest of this article.
The world of video surveillance has rapidly evolved in the past decade as technology improved. Simultaneously, the industry gained new opportunities for growth through the vigorous commercialization of products and services with cutting-edge innovations, such as AI and cloud technology.
Video surveillance systems are no longer just for recording images, but have become an essential tool for businesses across the globe to improve operations, increase productivity, and enhance security.
01 Security solutions transform into AI-powered business game changers
The integration of security cameras and AI has been a major topic in the video surveillance industry recently. Especially in 2023, the video surveillance industry has readily embraced AI technology as a new standard of operation, with widespread adoption across industries as the development of AI speeds up.
Hanwha Vision predicted that by 2024, AI implementation would accelerate to provide data insights beyond post-response and pre-detection, including for event/incident analysis, future forecasting, and other applications.
Seung In Noh, Head of AI Lab. at Hanwha Vision, said, “The industry is not only leveraging AI technology that accurately detects and distinguishes objects captured in security cameras, but also producing valuable insights for business through video data and AI-based analysis, and assessing the likelihood of specific events.” He added, “These data and AI-driven predictive analytics provide broad and immediate visibility into numerous potential outcomes and impacts on threats and business strategies.”
AI-based predictive analytics in video surveillance consist of three large processes: video information collection, exploratory data analysis, and future situations modeling. These are used in industries such as urban infrastructure, retail, factories, logistics, and medical sites, and make businesses more efficient through cost reduction, process optimization, and service quality improvements, as well as safety and accident prevention.
This type of predictive analysis in video surveillance consists of three major processes:
video information collection
exploratory data analysis
future situations modeling
These are used in industries such as urban infrastructure, retail, factories, logistics, and medical sites, and make businesses more efficient through cost reduction, process optimization, and service quality improvements, as well as safety and accident prevention.
Hanwha Vision SightMind, kas šogad tika izlaists kā izmēģinājuma programma dažiem izvēlētiem klientiem, vizualizē metadatus, kas iegūti no mākslīgā intelekta kamerām un citām IoT ierīcēm, lai palīdzētu ikvienam izmantot datus savā uzņēmējdarbībā. Mākslīgā intelekta kamera veic pašanalīzi, un SightMind to parāda, izmantojot paneli kā pielāgojamus logrīkus un diagrammas. SightMind ir saderīgs ar dažādām lietotnēm, un tam ir plašs potenciāls.
For example, SightMind allows retail stores to effectively develop products and staffing plans by measuring advertising effects of digital signage and analyzing in-store customer traffic. The platform could also allow urban planners to detect the most congested times in a city center to reduce traffic or to gain the insights needed to open or close lanes. For factories, SightMind intuitively determines personnel decisions for certain shifts, and evaluates compliance with safety protocols, including:
slip and fall detection
restricted area access monitoring
proper use of helmets and other personal protective equipment
02 The accelerating train of cloud transition
After the benefits of cloud-oriented digital transformation were proven during the pandemic, user affinity for and trust in cloud-based services has increased significantly. This has had a huge impact on the video surveillance industry, which is actively seeking cloud-based services to effectively utilize data and cutting-edge technologies such as AI, and on the streamlining of business operating costs.
Andy Jungwoo Ryu, Chief Product Officer at Hanwha Vision, explained: “Companies are increasingly investing in cloud-based services that take advantage of video data due to advanced video surveillance technology, increased initial investment costs, and current high interest rates.” He added, “It is getting more obvious that an increasing number of companies are switching their IT expenditure model from CapEx to OpEx, and these changes accelerate the adoption of cloud technology.”
Given the uncertain economic and business environment, the pre-investment of an on-premises approach carries multiple risk factors. Building an on-premises server that requires predicting computing assets needed in the future can strain budgets or suffer from limited computing capabilities, depending on forecast accuracy and potential changes in computing demand. Cloud-based solutions, however, can adjust capacity as needed and stay on budget through usage-based spending. Many organizations are increasing their cost-efficiency through cloud services in annual/monthly subscriptions instead of opting for large initial investments.
Hanwha Vision notes the increased demand for the remote management of multiple regions and diversification of integrable cloud-based solutions as other growth factors for cloud services in the industry.
First, one of the reasons many organizations consider opting for cloud is that a cloud-based video surveillance system breaks free of local boundaries. Supervision and security can be maintained through the cloud anywhere in the world, even if operators are not physically available. Users can access live feeds and recorded videos through a web browser or mobile app even when they are traveling.
A cloud-based video surveillance system, or VSaaS (Video Surveillance as a Service) can become part of a new system that fits any organization through integration with other cloud-based solutions. Many companies are already transforming how they use video surveillance systems by integrating them with security systems:
access control
fire detection
building management, e.g.
and connecting them with AI/data analytics solutions.
03 Bringing everything into a single camera
Streamlined data processing and management with lower overhead would be a dream come true for any organization. For this reason, customer expectations for edge AI, which revolutionizes the way we manage data, are rising day by day.