There was lots of video analytics news today.
Avigilon, which acquired VideoIQ at the end of 2013, today came out with the first combined offering of VideoIQ and Avigilon products. Avigilon added Rialto to its portfolio. Rialto has three appliances (for IP, analog and thermal cameras) that will enable end users to add VideoIQ analytics to existing Avigilon or other manufacturers’ cameras. I have a call into Avigilon for more details.
Avigilon's analytics play is a good move according research firm TechNavio which announced today a new report that predicts global intelligent video analytics market will have a compound annual growth rate of 34.12 percent over the period 2013-2018.
What will drive that growth? TechNavio said it’s the need for sophisticated tools to analyze the “unstructured data" generated by video surveillance systems, as well as increased security concerns.
The other, important driver is the “increasing demand for intelligent video analytics with business intelligence tools,” the report said.
“When operational data is integrated with BI features, companies can generate profits by identifying and implementing profitable projects, increase sales by applying fact-based selling tools, enhance customer loyalty, and retain customers by optimizing customer experience management,” said Faisal Ghaus, VP of TechNavio, in a prepared statement. “Organizations can use IVA solutions combined with BI tools to predict the future behavior of potential and existing customers, which is a major driver for the growth of the market over the forecast period.”
This all made me think about the very excellent educational session at TechSec 2014 “The IP camera of the future,” where there was lots of talk about the crucial nature of video analytics that work.
“The full potential of the business value of security cameras has yet to be realized,” said Ray Coulombe, an entrepreneur and CEO of SecuritySpecifiers.com, who moderated the panel. “Analytics, big data implementation, and the proper mindset of security practitioners will develop to the point where security cameras, and other devices, will be viewed as a more integral part of the business fabric.”
The vendors involved with the TechNavio report were listed as: Agent Video Intelligence, Axis Communications, Honeywell, Bosch, Cisco. IBM, Infinova, Intellivision, Nice Systems, ObjectVideo, Verint, VideoIQ.