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New analysis from the consulting firm finds that as demand spreads from North America and western Europe to the rest of the world, a promising new technology, called video analytics, takes surveillance to a whole new level. Video analytics can perform certain functions such as identifying abandoned objects, detecting motion and identifying traffic flow. It is useful for both security and managerial purposes.
"Video analytics is the process of using algorithms and software to analyze recorded or live video coverage," notes Frost & Sullivan research analyst Janaki Padmanabhan. "It is the next step to video surveillance where the intelligence of the system is utilized to enable the end user to identify key trends and significant changes in recorded images. The end user will be alerted when there is an unusual event. Video analytics is the key to help end users with the abundance of recorded information."
Frost & Sullivan also noted that the downside of regular surveillance cameras is that it relies on the alertness of those monitoring the cameras. However, often the staff/guards monitoring the video footage tend to become inattentive and loose focus. These guards run the risk of missing important information, not paying attention to trends in the traffic and ultimately risking a security breach. This type of human error diminishes when the video is recorded and later analyzed, it provides better analysis of the situation and reports can be generated in desired formats. Analysis of live video coverage also brings the attention of the staff/guards to a current security issue.
Video analytics and its applications generate a buzz of interest within this growing market. The technology offers a plethora of applications already in place with this new technology. Video Analytics can be used as both a security and management tool. Today, business intelligence divides the successful from the rest. This is clearly seen in retail.
In this competitive environment, Frost & Sullivan noted that any pattern or trend that can be identified as a part of business intelligence is crucial. Retailers are looking at various avenues to reduce operating cost, increase security, and operational efficiency. Video analytics software combined with video surveillance is used to identify certain distinctive patterns. The analytics of the video can be performed either live or on recorded content. By signaling to those monitoring the footage when something unusual happens, video analytics provides intelligence alerts.
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