Juniper Research: Video Monitoring & Analytics Service Spend to Near $90 Billion Globally Next Year
September 17 2024 - 2:00AM
Business Wire
A new study from Juniper Research, the foremost experts in IoT
markets, has found the total spend on video monitoring and
analytics will exceed $89 billion globally next year, rising from
$82 billion in 2023; a growth of 9% in 24 months.
The report predicts that VSaaS (Video Surveillance as a Service)
will be a key driving force to this growth; transforming
traditional video monitoring solutions into comprehensive security
systems. VSaaS incorporates cloud-based storage into video
monitoring; unifying the management of these systems to allow for
remote control and administration. Enabling this degree of
management is crucial to the integration of IoT devices with video
monitoring, prompting growth in key vertical markets such as smart
cities.
An extract of Global Video Monitoring & Analytics 2024-2029
is now available as a free download.
Cybersecurity the Key to AI In Video Analytics
However, the study identified cybersecurity as the primary
challenge to video monitoring & analytics growth, with
increasing volumes of sensitive data being produced and stored on
cloud-based video monitoring platforms. In response, the report
urges video monitoring and analytics vendors to tackle
cybersecurity concerns by implementing end-to-end encryption for
video data, both when the data is in transit and at rest.
Research author Georgia Allen remarked: “VSaaS provides an ideal
platform to tackle these cybersecurity concerns. Video analytics
vendors must build VSaaS models to include high levels of
end-to-end encryption for storage and transmission of data.
Additionally, this will enable providers to easily integrate new
video analytics services, such as AI-based facial recognition and
behavioural analysis, into complete video monitoring
solutions.”
About the Research
The new research suite offers the most comprehensive assessment
of the video monitoring & analytics market to date, including
market analysis and in-depth forecasts for 60 countries. The
dataset contains over 11,400 market statistics within a five-year
period. It includes a Country Readiness index to examine future
market opportunities and Competitor Leaderboard to assess the
leading vendors in the market.
View the Video Monitoring & Analytics research:
https://www.juniperresearch.com/research/iot-emerging-technology/iot-security/video-monitoring-analytics-market-report/
Download the free sample:
https://www.juniperresearch.com/resources/whitepapers/whitepapersthrough-the-looking-glass-key-trends-in-video-surveillance/
Juniper Research has, for two decades, provided market
intelligence and advisory services to the global telecommunications
sector, and is retained by many of the world’s leading network
operators and communications platforms.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240916755482/en/
Sam Smith, Press Relations T: +44(0)1256 830002 E:
sam.smith@juniperresearch.com