Security Industry Association reports on benefits of video analytics in reducing cost per-camera

The primary purpose of video analytics technologies is to get more value from existing video surveillance investments

Video analytics and other "enabling technologies" can sharply reduce per-camera costs for leading companies, according to a report included in the latest Quarterly Research Update from the Security Industry Association (SIA).

Among companies identified as having "best-in-class performance" - as determined by data on security-related incidents, human error and staffing levels - the use of enabling technologies cuts per-camera costs by 67 percent, and "their guard force is successfully assessing, prioritising, and taking action on five times more alerts per camera per day," according to a study conducted by The Aberdeen Group.

"The primary purpose of video analytics technologies is to get more value from existing video surveillance investments: to extract more effective information, and to do so in a more timely way," the Update notes. "Video analytics solutions are designed to identify the needles in the proverbial haystack - the exceptions, incidents, or events that really matter - to assist guards and operators in their decision-making process."

The 18-page Update also reports that:

• The SIA Business Confidence Index dipped in the second quarter. The survey of 100 CEOs of companies that are members of SIA, however, found that 53 percent consider current conditions to be "good to excellent" and 93 percent think conditions will get "much better."
• Remote video monitoring is "experiencing impressive growth which will continue to accelerate as the global economy recovers and technology improves."
• Security monitoring revenues have held steady despite the recession.
• 9 out of 10 retailers have been victims of organised retail crime.
• The video surveillance storage market is expected to grow to $5.6 billion by 2013.

The Quarterly Research Update is published four times a year by SIA to provide a review of the latest research in the security industry. It is available to SIA members for no charge and to non-members for $75.