In today's data-driven world, where smart cities, IoT, and Industry 4.0 are taking center stage, CCTV camera manufacturers, VMS providers, and integrated security system providers get a massive influx of video data.
Meanwhile, the advancement of AI has enabled extraction of valuable insights from raw data. One such advancement is intelligent video analytics, that offers real-time object and activity identification. Right from optimizing operations to detecting emotional behavior, video analytics is transforming industries across various parameters.
According to Mordor Intelligence, there are approximately 70 million surveillance cameras in the USA alone, spanning vast areas, which works out to 4.6 people per installed camera.
If you are a surveillance system manufacturer, VMS provider or an integrated security solution provider looking to stay ahead of the game, embracing video intelligence has now become a necessity.
The Rise of Video Intelligence
A report by Grand View Research suggests that the global video surveillance market size was valued at USD 45.5 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 15.6% from 2021 to 2028. According to a report by Markets and Markets, the fast-paced growth of video analytics since 2020 has been attributed to COVID-19. The lack of manpower and slow speed of service largely accelerated the adoption of video intelligence by large and small enterprises across verticals.
Although the pandemic is now a thing of the past, video intelligence will continue to stay. North America, particularly the United States, is a significant market for video analytics, with widespread adoption fueled by government endorsement and industry demand for advanced surveillance infrastructure.
Why Should You Embrace Video Intelligence Now – Meet Demand, Lead the Way & Fuel Growth
In the rapidly evolving landscape of surveillance technology, security camera manufacturers, Video Management System (VMS) providers, and integrated security solution providers face increasing pressure to stay ahead of the competition and deliver innovative solutions to their customers. One technology that has emerged as a game-changer in the industry is video intelligence, which can have a multitude of benefits if bundled up with video capturing devices and solutions:
1. Address the Growing Demand
The demand for video intelligence is rapidly growing in various industries. According to Juniper Research, video analytics solutions could reach a staggering $15 billion in revenue by 2025.
Businesses that use advanced video analytics are able to accelerate operations, improve customer experiences, and conform to compliance requirements. Therefore, integrating video intelligence into security offerings can meet customer needs, ensuring long-term business growth and customer satisfaction.
2. Stay Ahead of the Curve
Offering video intelligence as part of your services or devices is a strategic move in today's competitive world as businesses seek comprehensive, smart and efficient surveillance solutions. According to Gartner, deep learning and AI in video analytics can improve business operations by 25%.
By embracing this technology, security solution providers and manufacturers can demonstrate innovation and differentiate themselves from competition.
3. Drive Revenue Growth
By bundling video intelligence as part of your offering, security solution providers and manufacturers can tap into new revenue streams. In fact, IDC predicts that the amount of data created by video surveillance cameras will reach 859 PB daily by 2025. This indicates that businesses are willing to invest in advanced surveillance systems that provide comprehensive coverage, actionable insights, and enhanced security features.
Video intelligence enables upselling of offerings and securing of long-term partnerships that drive revenue growth and profitability.
Understanding the Key Use Cases of Video Intelligence for Your Customers
It is now safely established that the ultimate goal is to offer innovative and effective solutions that empower your end customers, enhancing their security, operational efficiency, and overall success. But, it's also crucial to understand what exactly you are offering to your customers and how it will benefit them. By gaining clarity on these aspects, you can effectively communicate the value of video intelligence and captivate your customers' interest.
Let's explore the key use cases you need to know to showcase the benefits of video intelligence to your end customers:
1. Real-Time Threat Detection
With video intelligence, you enable your clients to enhance security through automated threat detection. By swiftly identifying potential risks, suspicious activities, or unauthorized access, your customers can respond faster, ensuring improved security effectiveness and minimizing the risk of incidents and losses.
2. Intelligent Data-Driven Decisions
Your clients can unlock the power of advanced video analytics, making lightning-fast, data-driven decisions when they matter most. From predictive analytics to anomaly detection, video intelligence empowers them to extract valuable insights from their video footage, enabling tangible business outcomes.
3. Behavior Analytics
By leveraging video intelligence, your clients can analyze human behavior patterns and identify preferences. From uncovering unruly actions to monitoring what is flying off the shelves faster, video analytics helps create a safer environment, minimizes risks and helps narrow down on what is working and what is not.
4. Control and Authorization
With object and movement detection, video analytics revolutionizes access control, without relying solely on clunky access cards and keycodes. This means prevention of loss and ensuring secure and convenient access control.
5. Cost Savings Through Operational Efficiency
Video intelligence streamlines operations by automating surveillance, optimizing resource allocation, and identifying operational inefficiencies. By reducing manual efforts and improving workflows, your customers can enhance productivity and achieve cost savings.
6. Customization and Scalability
Bundling video intelligence enables you to offer customized solutions tailored to your clients' specific needs. By addressing industry-specific video analytics requirements, you can solve unique challenges and provide scalable solutions that can grow their business.
7. Regulatory Compliance
Video intelligence solutions ensure regulatory compliance for your clients, particularly in data-sensitive industries like finance and healthcare. By anonymizing data, controlling video feed access, and adhering to data protection laws, your clients can maintain compliance and trust.
Unlocking Endless Possibilities with the Industry Applications of Video Intelligence
Now that we have explored the key use cases of video intelligence, let's delve deeper and discover how different industries can harness this powerful technology to their advantage for improved operations, enhanced customer experiences, and heightened security.
1. Quick Service Restaurant (QSR)
- Drive-Thru Performance: Video analytics monitors and helps enhance drive-thru operations, measuring wait times, order accuracy, and service speed.
- Customer Behavior Analysis: Analyzing customer interactions and preferences helps optimize menu offerings and personalize marketing strategies.
- Security and Safety: Video intelligence enhances surveillance, ensuring the safety of customers, staff, and assets within the QSR environment.
- Threat Detection: AI-enabled video analytics detects suspicious behavior, reducing theft and shoplifting incidents.
- Customer Behavior Analysis: Analyzing customer movement and engagement helps optimize store layouts and marketing strategies.
3. Car Wash
- Queue Management: Video analytics monitors car wash queues, optimizing resource allocation and reducing customer wait times.
- Equipment Maintenance: Analyzing video feeds helps identify equipment malfunctions or maintenance requirements for timely repairs.
- License Plate Recognition: Video intelligence systems capture and analyze license plates for seamless entry and exit management or security purposes.
- Patient Monitoring: Video analytics enables real-time monitoring of patient well-being and alerts for falls or emergencies.
- Behavioral Analysis: Analyzing facial expressions and body movements helps assess patient behavior and mental health.
- Quality Control: Video analytics identifies defects or anomalies on production lines, ensuring product quality and consistency.
- Process Optimization: Analyzing worker movements and equipment usage helps streamline manufacturing processes.
- Guest Experience: Video analytics monitors guest behavior to enhance personalized services and optimize staff allocation.
- Security and Safety: Intelligent video systems identify security breaches and ensure a safe environment for guests and staff.
It's Time to Seize the Opportunities Presented by Video Intelligence
In the ever-evolving surveillance industry, security camera manufacturers, VMS providers, and integrated security solution providers must recognize the game-changing potential of video intelligence. Ignoring this transformative technology is no longer an option. By embracing video intelligence, you can set yourself apart from the competition, meet the rising demand for advanced surveillance capabilities, and unlock new avenues for revenue generation.
About Wobot & It’s Partner Program
Wobot revolutionizes video surveillance with its AI-powered video analytics platform. It enables unlocking of valuable insights in real-time by leveraging visual data, elevating surveillance from reactive to proactive and maximizing operational efficiency.
Wobot's Partner Program empowers security camera manufacturers, VMS providers, and integrated security solution providers by:
- Accelerating sales and expanding market reach with competitive pricing and hassle-free integration.
- Receiving pre-sales design assistance and accessing a user-friendly platform for easy installation and management.
- Staying ahead of the game with continuous innovation through self-learning systems and frequent product releases.
- Receiving comprehensive support, training, and marketing assistance to drive long-term profitability and customer success.
Partner with Wobot to enhance your offerings, retain strong margins, and access the support you need for sustainable growth.
Open up a new revenue avenue by adding AI-powered video intelligence to your surveillance capabilities! Connect with us to know more about Wobot’s Partner Program!