An emerging need for Video Analytics!
CCTV cameras have seen exponential growth in the last decades, with more than 1 billion devices globally in 2021, driven by highest camera density in China and India for monitoring premises, vehicles, public places, etc., with Chennai leading at 657 Cameras per square KM.
While these surveillance systems are indeed assisting crime investigations with data points, data indicates they have not helped reduce crime rate. Per the report from National Crime Records Bureau in October 2020, India recorded 1.6% increase in crime from 2018 to 2019, with crimes against women increasing by 7.3%. Moreover, there is no definite co-relation between the CCTV cameras density and the crime rate, as similar crime rates are noticed across cities with varying CCTV penetration. India Today report says, “Every three minutes, a theft or burglary happens in India”. Despite being one of the top-most countries in the world in terms of surveillance density, why are criminal activities on the rise?
With such vast coverage in premises across domains – industries, education institutes, construction sites, residential and commercial buildings, hospitals, etc., do these cameras give meaningful insights to sustain or grow businesses, or maintain and secure premises – unless actively monitored? At the least, is it convenient to take advantage of recorded video feeds to identify missing objects, process deviations, employee negligence, etc.?
Basis a survey among local brick & mortar retailers, most feel recorded videos are rarely viewed for it is extremely inconvenient to go through long stretch of videos. Despite cameras installed in the premises, there is no reliable way to automatically ensure or monitor staff diligence be it as simple as monitoring opening time, closing time, etc.
Video Analytics for Rescue!
Video analytics has been exponentially growing in the last few years, and the global market size is set to grow from USD 4 bn in 2019 to USD 22 bn in 2027, driven by rapid growth in Asia Pacific – primarily India and China.
Growth will be fueled by the need for proactive and preventive surveillance system through smart video analytics system than a reactive solution from current passive cameras. With the rapid evolution of analytics at edge and cloud, the capabilities of surveillance system are increasing multifold to offer automatic monitoring and live-alerts for suspicious activities, unauthorized entries, missing objects, crossing boundaries, etc. across domains such as banks, vehicles, factories, retails, inventory rooms, education institutes, smart cities etc.
It is a lot more than just security!
While security evolves to be preventive and 24X7 fool proof, the underlying AI/ ML technologies offer unbelievable insights that are humanly impossible to obtain. They make premises/ cities smart by seamlessly enabling superior understanding of the footfall trends, walk-in trends, traffic patterns, staff diligence and efficiency, visitors’ demographics, crowd control, time-lapse videos, parking management, etc. With changes in behavior driven by COVID, these technologies offer social distancing, mask compliance, temperature detection, contact-less attendance, and services etc. to enable seamless operation in the post-COVID world
Gone are the days with passive cameras, it is certainly the decade that will see places becoming smart, leveraging AI/ ML technologies to grow businesses, enhance security and crowd control. New business models are emerging with no upfront investments but only affordable subscriptions
Want to be a front-runner? Contact BotsEye for next-gen video analytics solutions!
References:
