Five Key Trends Driving the Boom in Live Video Monitoring
News about artificial intelligence is everywhere these days. So it’s no surprise that business owners are looking into how AI can help them better protect their property, employees, customers, and community.
While AI programs like ChatGPT are newer, the security industry has used AI for years to better detect and deter crime. So, what’s driving the need for high-tech security that’s more effective than ever?
Here are five industry trends driving a big boom in live video monitoring:
An increase in security incidents is harming business
According to one study, 28% of businesses reported an increase in physical security incidents (including theft and vandalism) in 2022, resulting in “project delays, lost cash flow, decreased levels of customer service, damage to their brand or reputation, and even a change in business hours.”
Labor shortages for security professionals have created a gap in security staffing
Labor shortages are affecting every industry. In the Genetec 2022 State of Physical Security Report, 50% of respondents said their physical security team experienced human resource challenges last year.
“The need for security guards and their services exists on a large scale, but the ongoing talent shortage has forced organizations to be creative with how, when, and where they are deployed,” according to Joseph Seagriff of Security Today.
Businesses are increasingly investing in smart video security solutions in response
Increased crime plus a shortage of security guards has businesses looking at smart security options.
According to Research and Markets’ 2023 Physical Security Market Analysis Report, “Video surveillance systems led the market in 2022, as these systems enable real-time continuous monitoring and help lower chances of theft.”
Next-gen security solutions represent a shift in focus to real-time deterrence
Traditional security is great at recording what’s happened so you can investigate—but by then, your business has already suffered a loss. The next generation of security is all about using AI to identify threats before they happen. As these AI-based systems “learn,” they can increase their crime deterrence capabilities and continue to lower the associated cost and risk exposure for businesses.
Most providers are moving to cloud-based systems and video analytics that can be accessed from anywhere
Another trend is the move to cloud-based video security systems, which are popular because they are scalable, reliable, easy to use, and accessible from anywhere (which is perfect if you have to manage multiple locations).
Video analytics is also becoming more common as businesses seek to extract meaningful information from video footage by identifying and tracking people, objects, and activities.
Want to learn more?
Read The Ultimate Guide to Live Video Morning or contact us for a free quote or risk assessment.
