Video security's uncharted growth

The unabated growth in the video security systems market looks set to continue as digital technology gets ready to overtake analogue.

The market for video security systems continues to grow unabated. Market analysts at MarketsandMarkets predict that the global market will grow by an average of 19 per cent per year and reach a volume of over 25 billion dollars by 2016.

At the same time, 2013 is set to be an exciting year in terms of overall growth in this sector. It’s also expected to be the year in which sales in digital technology overtake those in analogue technology. At least that's what the market analysts say. Still, there are enough reasons to believe this prediction, since digital technology has a clear advantage in terms of quality and added value.

This year we will see a lot of changes in technology that will greatly benefit users. In addition to continuous improvements in image quality, new features such as integrated video analysis offer new possibilities and added value. These functions provide important information for optimising processes and for marketing purposes.

Sooner or later, users will begin to think more in terms of systems and even platforms rather than individual products. For manufacturers, this means offering customers a technical solution that is easily scalable and can be customised to specific requirements. The solution must also be future proof; in other words, new functions can be added to "old models" using updates. This requires a certain degree of product intelligence.

Apart from these technological aspects, two other factors will become more important in the future: cost-effectiveness and environmental sustainability. As a result, return on investment is becoming an increasingly important factor when assessing new security solutions.

The global economy is facing major challenges: national debt, a crisis of confidence in the financial sector, uncertainty in the Middle East, not to mention natural disasters, are all risks for the global economy. In light of this, businesses are scrutinising investments more carefully. That includes video security solutions.

You may ask: "do I absolutely have to integrate a new system even though I already have one that works and that may well continue doing its job for another two years?" The answer would probably be "no" if you look at it from a short-term perspective and only take the initial outlay into account. Businesses have to take a more long-term, holistic approach and focus on the initial investment as well as the total management costs and the added value they gain by improving quality. Thanks to digital technology combined with other innovative approaches such as a decentralised concept and hemispheric camera technology, companies can already tap into the cost advantages offered by network cameras. Compared to analog or standard IP solutions, these solutions can even save money in the long-term, ensuring a rapid return on investment.

As the world transitions to more sustainable energy sources, more than ever before, it is up to manufacturers to deliver "green" security systems. Manufacturers of security systems must focus on issues such as reducing operating costs, improving energy efficiency or replacing cable systems with network technology.

It is clear that the industry is facing major challenges. However, this should serve as an incentive rather than a barrier. As the market continues to grow, the opportunities are enormous. With the appropriate strategy, both manufacturers and customers can benefit from innovative products that are tailored to today's requirements.

Dr. Magnus Ekerot is the chief Sales officer at MOBOTIX.