The number of surveillance cameras are snowballing around the world. The sheer growth of cameras and the security market poses a glaring problem for legacy surveillance systems that cannot keep up with the mounting influx of data. From a Mordor Intelligence report, with a CAGR of 10.35%, the global surveillance system market is expected to reach $86.06 billion by 2024 from $47.40 billion in 2018. In the IP security camera market alone, it is expected to grow to $20 billion by 2025 from $8 billion in 2018 according to a study by Global Market Insights. The commercial sector will likely hold the largest market share as demand for video surveillance grows in industries such as in banking, retail, and entertainment.
In order to keep up with the enormous amount of video data being accumulated, surveillance systems need to greatly augment their storing and analytics capabilities. Legacy systems are struggling to efficiently process and make use of all this data. Human monitoring costs also increase, and the margin for error or missing important events similarly grows. The only feasible solution to solve this ever surging amount of video data is AI.
Artificial Intelligence has the efficient processing and learning capabilities necessary to deal with the amassing stores of video data collected and streamed to surveillance systems. AI is the future of surveillance and will soon be the only viable system capable of keeping pace with increasing video data.
Besides the basic functions of alerting and pinpointing security threats and events, AI can utilize data to its fullest. In the retail sector, AI video surveillance can track the movements of employees, customers, and goods to not only prevent shoplifting but to gain business insights about consumer traffic, habits, and preferences within a specific location, store, or entire shopping mall.
AI is flexible, accurate, and efficient with the ability to improve itself the more it is used. The deployment of AI-based systems continually expands to all levels and areas of various industries. The possible applications are endless as it can identify different species of animals, all types of vehicles and objects, and human behavior in different environments and conditions with near perfect or perfect accuracy. The deep learning and neural networks of AI systems enable them to solve the long-held complaint against traditional rule-based analytics that couldn’t distinguish between objects and behaviors that humans could easily classify. As computing power continues to increase, neural networks will be able to process more data with greater accuracy.
Compared to human monitoring and legacy motion-detection-based system, AI doesn’t get tired, has consistently high accuracy, and is therefore more cost-efficient in the long term. Another added value of AI is easy integration. Because it is based on deep learning and fully automated, it is easy to set up. Some AI systems like IronYun’s AI NVR can also integrate with other NVRs and surveillance systems like Milestone to create the most complete security with the most ease and breadth and the least amount of installation effort and cost.
Physical access control systems have benefitted the most from AI. Quick reaction times paired with automatic adjustment of permissions and identification make AI-based solutions leaps and bounds ahead of non-AI-based systems in perimeter defense, and entrance and access control. The reduction in recognition and response times allow a wider margin of safety to extinguish threats before they escalate and result in loss of property and life. This ability to identify anomalous events, insider threats, and hazardous situations is a major breakthrough for the physical security world.
Hence, to properly manage and prepare for the upsurge of video data while gaining valuable business insights, switching to AI-based systems is imperative as the only long-term, highly effective security solution.
AI is the future of video security.
Nov. 20, 2019