2023 Industry Trends

Here’s the Trends to Keep a Watchful Eye on in 2023 

The video surveillance market has seen significant growth in recent years, with various advancements unveiled that drive the industry forward. As we move into 2023, there is much to stay abreast of as the market continues to evolve and change. So without further ado, here are the key trends to watch in the video surveillance market this year. 

Smarter … and Safer: Artificial intelligence and machine learning are increasingly being incorporated into video surveillance systems, enabling systems to automatically identify and track objects and individuals and analyze video footage in real time. This functionality can improve security and make surveillance more efficient while making the security stakeholders more aware of risks and overall operations.  

How much is AI adoption growing? According to a MarketsandMarkets research, the use of AI in video surveillance market is expected to grow from $4.3 billion in 2020 to $12.9 billion by 2025. That’s significant. 

Cloudy with a Chance of .. Cloud: Cloud-based video surveillance systems are becoming more popular. According to MarketsandMarkets, the cloud-based video surveillance is expected to grow from $5.3 billion in 2018 to $14.1 billion by 2023 at a compound annual growth rate of 22.5% during the forecast period.  

The reasons why this growth is occurring is not surprising. It’s well known that the benefits of cloud video are significant when compared to on-premises platforms: they offer more flexibility and scalability compared to traditional on-premise systems. Cloud-based systems can also be accessed from anywhere and easily integrated with other security systems. 

Let’s Get Proactive: Proactive video monitoring is a growing trend because it allows for real-time surveillance and response to potential threats or incidents. By using advanced analytics and artificial intelligence, PVM systems can detect unusual behavior or events and allow remote monitoring agents to voice down stopping the incident in real-time. This approach is more effective than traditional surveillance methods, which often rely on manual monitoring and can result in delayed responses or missed incidents. Proactive video monitoring also offers a higher level of deterrence, as potential intruders or criminals are less likely to attempt to breach a facility or property knowing that they are being actively monitored. 

On the Edge: The rollout of 5G networks and the growth of edge computing enable video systems to process and transmit data in real time. 5G networks offer significantly higher bandwidth and faster speeds compared to previous generations of mobile networks, and improve the reliability and speed of video surveillance platforms. Edge computing and advanced networks also enable remote monitoring of video from anywhere, which can help to improve security and increase efficiency. 

Open and Honest: Video surveillance systems are increasingly being integrated with other networked devices and systems, such as access control, water sensors, social media, and alarm systems, to create a more comprehensive business solution. This can help to improve security and make surveillance more efficient. 

Open systems allow customers to choose from a wide range of products from different manufacturers, allowing them to select the best products for their specific needs and budget. This can help to reduce costs and increase efficiency. 

The video surveillance market is expected to continue growing in 2023, driven by significant technology enhancements and the fact that many security leaders are leaning in to a more proactive approach to risk mitigation. It will be the organizations that invest in these trends are likely to see significant benefits, including improved security, increased efficiency, and enhanced customer satisfaction.