Video Analytics to grow exponentially in India: Cisco
Lokesh Lohiya, Business Development Manager- Connected Safety & Security, Cisco Systems on Video Analytics Market
While there are no industry reports indicating the market value or share, for Video Analytics, the market is assumed to be in the range of $5-20 million currently and is expected to grow more than $100 million in 5 years. Lokesh Lohiya, Business Development Manager- Connected Safety & Security, Cisco Systems, says, “Video Analytics will grow exponentially once the solution matures and stabilizes in accordance with Indian conditions.”
From enterprise security perspective, are Indian organisations and businesses investing into Video Analytics technology?
In the Indian market, video analytics has been considered primarily by government and private organisations to enhance their security solutions for the last few years. However this has been done in a very fragmented manner as validated solutions for Indian conditions are still not completely available. There are very few video analytics players who have solutions for India. Governments and private organisations are using video analytics for sensitive requirements but in most cases they do not deliver the desired results.
In your view, how much can video analytics as a technology change the dynamics of overall security and surveillance landscape?
Video analytics will play a crucial role in the near future to enhance security solutions, operations and management. Security operations will become more pro-active and response will be more robust by incorporating the right video analytics features. Also, video analytics will be tightly integrated in the command control centre or security operations centre to help security stakeholders with the key features of detection, assessment & response.
Does the output of video analytics is not just depend on the analytics engine but also the video equipment and video feeds?
Video analytics is integral part of video surveillance solutions and works on IP Camera video feeds as well integrates with video management software to share alerts and feedback with users and hence tight integration is required. Currently video analytics are also offered as built-in applications on IP Cameras which will become a standard offering in the near future.
Do you see Indian enterprises at par with their global peers in terms of using video analytics to beef up overall security and surveillance?
Currently, the incorporation of Video Analytics is quite fragmented. However we do see this area maturing and becoming a very relevant part of the security solution architecture. We see that the Public Sector, especially Urban Security & Traffic Management and some sections of Defence are adopting Video Analytics in a big way. Also verticals like Manufacturing, Oil & Gas, and Utilities are exploring how Video Analytics can help them not just with security but also to offer operational benefits. BFSI companies are also trying to move from traditional sensor based solutions to intelligent Video Analytics solutions. Enterprise & IT/ITeS customers are looking at Video Analytics to make their security operations more proactive to assist in better security of their employees and assets.
From Indian market perspective, what kind of demand are you seeing for Video Analytics in the security space?
Video analytics will grow exponentially once the solution matures and stabilizes in accordance with Indian conditions. While there are no industry reports indicating the market value or share, for Video Analytics, the market is assumed to be in the range of $5-20 million currently and is expected to grow to more than $100 million in 5 years or less.
Source: Express Computer
Kalyan Banga222 Posts
I am Kalyan Banga, a Post Graduate in Business Analytics from Indian Institute of Management (IIM) Calcutta, a premier management institute, ranked best B-School in Asia in FT Masters management global rankings. I have spent 14 years in field of Research & Analytics.