Bad News for Video AnalyticsBy: John Honovich, Published on Jun 24, 2009
More acknowledgement of video analytics poor performance delivered by IMS:
- Only "moderate growth" projected this year and next
- 30% annual growth rate by 2012-2013
- 2008 sales volume: 38,000 channels server based, 40,000 channels edge based (cameras, encoders)
- Government and Transportation about 50% of total video analytics market
- IMS states, "The market is still awaiting that “killer application,” and no one seems certain yet what that will be"
As we examined in our recent Intelligent Video 2009 Market review, the video analytics industry is doing poorly and there's no immediate hope for great success.
I think remote monitoring is the most likely killer app. The guard market globally is extremely large and the business case of replacing some guards for analytics is quite high (nothing sells in security like cutting costs). Analytic companies will still need to prove performance (now more than ever) but I think we are getting close (12-18 months) to seeing real traction in remote monitoring.