New research reveals more than 1 in 2 (58%) of European and UAE businesses expect to implement video analytics solutions over the next two years.
Video technologies and video content are fast becoming a central part of organizations’ core IT functions, according to an IDC White Paper, sponsored by Milestone Systems.*
To date, most video surveillance systems operate at the edge of an enterprise and are mostly disconnected from core IT assets such as ERP and CRM systems, content management platforms and collaborative applications.
However, with the proliferation of new uses for video that go beyond traditional security applications and the growth of analytics made possible with AI, a majority (58%) of European and UAE organizations expect to implement video analytics solutions with additional analytical capabilities over the next two years.
Over the same period, the number of organizations using video technologies as an advanced technology platform connected to other systems, whether inside or outside the organization, will more than triple, from 8% to 26%.
“Video analytics solutions are rapidly changing status from a standalone edge technology to a core intelligent IT asset, and it’s safe to say that the smart money is moving to video.”
This ever-closer relationship between camera and sensor data and core IT assets reflects a general move among organizations towards to a future IT architecture in which data management and analysis happens in an "intelligent core" fed by data and information from users, systems, sensors, and outside sources.
“To this end, organizations need to build their video solutions around open platform technology that ensure the widest compatibility with systems and devices, while providing scalability and future proofing their investment.”
• 58% of European and UAE organizations expect to implement video analytics solutions with additional analytical capabilities and connect to more digital assets including cameras and sensors within two years.
• In the same period, the proportion of organizations "using video technologies as an advanced technology platform connected to other systems, inside and/or outside the organization" will rise from 8% to 26%.
• Over the next 24 months, the majority (84%) of European and UAE organizations plan to deploy advanced video technologies, such as video analytics and sensor information.
• 26% of the organizations plan to establish a video technology platform centrally, which would be connected to other systems.
• Organizations around the globe expected to spend $2.0 Billion in 2021 in Video Surveillance Analytics (source: Worldwide Video Surveillance Analytics Forecast, 2021–2025, IDC #US47835921, June 2021).
• Transport & Logistics and Critical Infrastructure show the most advanced level of maturity in terms of Video Technologies usage.
• Among the key capabilities required over the next three to five years, buyers highlighted process automation, facial recognition, smart analytics, artificial intelligence, and centralized cloud-driven deployment (source: Worldwide Video Surveillance Analytics Forecast, 2021–2025, IDC #US47835921, June 2021).
* IDC White Paper, sponsored by Milestone Systems, UNLOCKING A VIDEOEMPOWERED NEW NEXT, doc #EUR148161021, September 2021
For more insights on the IDC survey, visit this page.
The study is based on existing IDC research, including IDC Digital Transformation and Software research, data from IDC's Worldwide Spending Guides, and buyer and vendor conversations. IDC also carried out a dedicated Video Technologies survey interviewing C-suites in 320 UAE and European organizations across four industries: Government, Healthcare, Critical Infrastructure, and Transportation.
Milestone Systems is a global leader within open platform video management software. More than 3,000 hardware and software partners can integrate their video solutions in our open platform for security and beyond security purposes in cities, schools, hospitals, and many other institutions.
We enable customers to see what their eyes cannot always see, and we help them understand what they are looking at so they can analyze the past, predict the future and make better decisions. For example, in cities video and sensor technology can enhance the performance and quality of services such as energy, connectivity, transportation and utilities. This can help city leaders to meet the needs of their residents and are important capabilities in creating an intelligent and more sustainable society.
Milestone Systems’ solutions are available in most countries around the world, with regional offices and sales representatives in more than 25 countries.