Come closer and gaze into the crystal ball. What changes will happen in the video surveillance industry. Will we see the demise of analog technology? Will DVRs only be available in the Smithsonian or in the basement of the National Museum?
We were chilling over a few teh tariks as we spoke about our CPF money when we started talking about future tech in our industry. In this article, we the nice guys at Stroztech talk about several predictions that we’ve summarized below:
Increased network capabilities
Global networking technology and connectivity is improving. More devices and systems are already migrating to ip-based solutions. Control, video feeds and general access to systems are now available over networks.
Flexible & Scalability
Such systems will continue to grow in market share. Video surveillance will have to grow in terms of flexibility and scalability. Plug and play mobile cameras running on wi-fi and rechargeable batteries may become the future. It also introduces many challenges such as wi-fi hacking and longer battery use that manufacturers and integrators will have to overcome to be successful.
Data storage
DVRs will decline in use and give way to on-camera, network, and cloud based storage. You should check out our very own soon to be launched Stroz-Cloud.
Greentech
Will green technology have an impact on video surveillance? Can we power outdoor cameras with solar energy? Can we integrate our systems on such platforms? Shouldn’t manufacturers be focusing on this?
Leasing as an option
Affordable leasing plans, coupled with other hosted services, such as video storage, is something to keep a look out for. This brings us back to scalability as a business model. We currently offer security and inspection drones on a leasing program. This means tremendous savings on capital expenses.
Across the board growth?
Increased usage of security camera based video surveillance will be seen across the board. Currently public spaces such as train stations, airports, hospitals require more watchful eyes. It’s no longer just banks and gold smiths that require CCTV cameras. Laws dictating minimum resolution and quality in some instances is also coming. Due to the recent air crashes like MAS and Air Asia there are even talks within IATA on cameras in planes.
What markets are important?
Due to the latest terror attacks in Paris and Boston, the US and European markets will continue to be the most lucrative. Less construction in Singapore might see a slowdown in sales but upgrading of existing cameras will still be on the table. The switch from analog to digital systems will create quite a lot of turmoil, pushing some players out and bringing in new ones. Other regions such a South Korea and Japan with their robust network infrastructures will also receive market share.
Thoughts
We tend to agree that a more networked world is leading towards a much stronger IP based CCTV industry. Security of those systems, however, will also become more difficult to manage. This will call for additional expenses for manufacturers and integrators, including increased reliance on third-party storage solutions, software development teams, and digital security professionals. Unfortunately, this may translate into more expensive solutions in the short term. It will, however, potentially create whole new industries.
The market will become more saturated with low cost, low quality products, from cameras to management software, as well. While not affecting the high end market, the private consumer will be faced with a larger selection of hit-or-miss, lackluster solutions. Those companies focusing on quality consumer grade products will find it even harder to sell to their intended customer.
Storage will be an interesting topic. Will cloud-based video surveillance storage go mainstream? Government involvement could also be a major consideration. We also think bandwidth may be a bottleneck, but as more regions get high speed fiber-optic networks, maybe this won’t be as much of an issue.
Your Thoughts
If you know of other future camera technology feel free to drop us a mail or better yet drop by our office with a teh tarik.
(This article first appeared on the Stroztech Global Insights Page here.)