Business Video Surveillance Trends In 2017

Video surveillance has dramatically changed in the past several years from a business perspective as well as a technological perspective. High-definition cameras have increased commoditization in the market of video hardware but have lowered the profit margins of manufacturers and their partners.

Also, several acquisitions and mergers have impacted competition, which reduced the number of companies holding considerable shares in the market. One of the biggest problems with these cameras has been their role in DDoS cyber attacks. Online security professionals have been talking about the dangers of these cameras for years but have seen their fears come true with the recent growth of attacks.

All of these concerns and issues leave many people wondering what trends the industry will see in 2017 and beyond. According to a survey of several industry experts, technology will continue growing and evolving. These are some of the ways they expect to see that happen.

There will be software-driven improvements. According to a participant who is a principal analyst in video surveillance, there will be a greater shift toward deeper learning of video analytics to video management advancement, and it will all take place with improved software. The programs will likely address bandwidth optimization, hardware erosion, resolution and other issues.

There will be improvements in cost efficiency, built-in intelligence and image quality. A participant who is a VP of a major communications company provided this prediction. He based the prediction on the market nearing a full IP, which is growing among smaller and mid-sized systems.

Multi-directional and multi-sensor cameras will have expanded configurations. Another notable VP pointed out that many new names have been entering the market, which was previously dominated by one vendor. However, this growth is expected to yield everything from smaller remote products to larger megapixels in devices.

There will be a wider array of camera types. One of the panelists pointed out that hardware elements of cameras have improved and expanded over the past several years. From laptop cameras to cell phone cameras, these devices are a part of everyday life now. Consumers can expect to see more wearable cameras, drone cameras, hybrid cameras and much more. These technologies will grow in popularity for private use rather than in commercial use alone.

Companies offering feature-rich platforms will rise to the top. Another VP expert predicted that companies with the abilities to meet the demands of the industry and provide good value for their products will be the leaders in the years to come. Sophisticated systems with innovative platforms are already growing in popularity, and those who are the pioneering innovators of unique technologies stand the best chance of success.

The entire industry will be more proactive about cyber security. A senior market analyst pointed out the importance of industry professionals working together to ensure better education of the public when it comes to video surveillance and online security. If systems are perceived to be vulnerable and manufacturers do not take steps to remedy this misconception, the market will be negatively affected. Consumers can expect to see improved best practice guides, better integration education, improved reference architecture and much more.

These were just a few of the top highlights from the report. To learn more about cyber-security for video surveillance technology and how trends are changing, discuss your concerns with one of our agents.

We know that running a small business means you have to continually educate yourself on matters you hadn’t even considered before starting your business. Let us help you make informed decision about your business insurance needs.  Our licensed agents specialize in cyber liability insurance, give us a call today at 844-325-9516.