Video has been a transformative technology since its emergence in the 20th century. However, it’s taken many decades for it to realize its full potential. With the emergence of artificial intelligence, big data, the IoT, and video analytics, we’re finally getting a taste of just how impactful video can be outside of pure entertainment.
What is Video Analytics?
Video analytics – also commonly referred to as video content analytics (VCA) – is the term used to describe the capability of automatically analyzing video to detect and examine temporal and spatial events for important information and relevant insights. It’s used in a wide variety of industries, niches, and applications and is quickly becoming a major force in modern society. Video analytics can send real-time alerts for loss prevention, increase situational awareness, accelerate investigations in cities, and improve traffic and parking direction and flow.
According to the research firm MarketsandMarkets, the video analytics market is projected to grow from $1.7 billion in 2016 to a staggering $4.2 billion by 2021. This steep growth curve is largely due to the utilitarian value it provides across the board. The algorithms used in this form of analytics can be implemented as software on general-purpose machines, or as hardware in specialized video processing units.
Understanding the Impact of Video Analytics
The beauty of video analytics is that it isn’t restricted to any specific industry or application. It’s currently being used to transform and secure homes, businesses, and cities. Here’s a glimpse at some specific areas that are currently being influenced:
- Home: Most homes have some type of video doorbell or security system that notifies homeowners when there’s activity on their property. However, one of the biggest pain points with these cameras is their inability to properly differentiate between vehicles, people, animals, postal workers, children, etc. With video analytics, advanced recognition technology can classify notifications based on who or what is detected (including specific people).
- Retail: Video analytics not only improves security in retail stores by reducing shrinkage and theft, but it can also provide managers with feedback based on various layouts and setups. This can lead to stronger customer engagement and better profit margins.
- Public places: Video analytics is perhaps best utilized in public spaces where community officials and law enforcement agencies need to monitor large crowds and sets of people. Facial recognition tools allow these agencies to identify high-risk individuals and potentially thwart terrorism and other malicious behavior. Though the advantages of using video analytics in public places are apparent, there are privacy concerns that need to be addressed from time to time.
- Sports stadiums: Sports stadiums have been targeted over the years for criminal behavior and terrorism. Video analytics not only helps stadium officials identify high-risk scenarios, but it can even track attendance and occupancy by counting people as they enter and exit the stadium. Furthermore, it has the ability to identify disruptive fans and inebriated/violent individuals who are compromising the in-stadium experience for other paying fans.
- Industrial areas: In terms of manufacturing, industrial warehouses can leverage video analytics to track items, reduce shrinkage, and maximize productivity and efficiency. It can even be used to anticipate breakdowns and provide recommendations for preventative maintenance.
- Transportation: Whether it involves airports, seaports, or subway stations, video analytics can provide valuable information on various incidents and accidents. Furthermore, it has the ability to reduce crime and increase response times to suspicious activities and emergency scenes.
These are just a few examples of areas where video analytics is having an impact. In the coming months and years, more industries and locations will continue to be impacted and influenced for the better.
Incorporate Video Analytics Into Your Security Plan
Activo is Canada’s leading national network system integration. We specialize in providing businesses with superior network systems planning, integration, installation, and support services. For more information about how Activo can incorporate video analytics into your security plan, contact us today!
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