Business Intelligence Market TinyBy: John Honovich, Published on Nov 18, 2009
IMS estimates business intelligence to be only 3% of the market for video analytics in 2008. That's a very small percentage of a very small market (video analytics are unlikely to generate more than a few hundred million in annual revenue, regardless of how it is categorized).
In the interview, IMS projects that business intelligent will grow to 7.1% of the video analytics market by 2013 and could be video analytics 'killer application.' IMS alludes to the lower impact of false alerts on business intelligence compared to security as a benefit/driver in business intelligence's favor.
Key applications of business intelligence cited are (1) people counting and (2) traffic pattern analysis.
The practical challenges for adopting these applications include:
- Limited product availability from mainstream vendors. Using business intelligence often requires adding a new product that may not be integrated into the existing system.
- Sophisticated traffic pattern analysis tends to come from non-security providers, requiring a complete new system to be bought (see BVI [link no longer available], Scopix, LightHaus Logix, VideoMining to name a few of the dozen small specialists in this segment).
- New cameras with special positioning are generally required. Existing surveillance cameras generally cannot be used for both surveillance monitoring and business intelligence analysis. This too increases the cost.