The rapid development of cloud computing and artificial intelligence means the CCTV market has transformed irrevocably.
Currently valued at between $40-50 billion globally, the video surveillance market is now expected to be worth nearly $115 billion by 2030, according to a new research report published by P&S Intelligence.
The report states that video management software will witness the fastest growth in procurement in the coming years. We tend to agree. An appetite for smart solutions to the ballooning video security infrastructure is apparent. In fact, promiseQ has already witnessed it through client requests.
Global CCTV Growth
There are now more than one billion CCTV cameras around the world. We are seeing video surveillance grow in industries like manufacturing, banking, financial services, as well as the transportation and retail industries.
Globally, the quest to improve safety and productivity in these industries is contributing significantly to a growth spurt in the video surveillance and security solution market.
It must be said that in light of the increased roll-out of video surveillance across the world, there is also a greater awareness on protecting data.
This awareness is enabling industry growth as companies invest in social responsibility and data protection management.
Video Surveillance As A Service (VSaaS), enabling users to store, manage, and monitor CCTV via the cloud, has increased in recent years due to the penetration of IP camera sales.
This is also driving market value. Essential factors such as cost containment by large IT organizations, and the enhancement of functionalities associated with centralized data support the VSaaS market.
promiseQ Market Changemakers
So, CCTV innovation is full steam ahead. With new market solutions in development, the need for cumbersome equipment and legions of people monitoring CCTV is waning.
We believe promiseQ is at the centre of this technological and cultural revamp within the security industry. promiseQ has designed a cloud-based platform with the ability to verify threats and filter out false alarms in real-time.
The technology is already cutting out 95% of clients’ false alarms and saving them up to 80% on their security costs.
Our Threat Detect Product combines AI and on-demand Human-In-The-Loop services. The Human-in-The-Loop approach means we have the advantage of being able to react to situations that are atypical for AI. Our product is also scaleable worldwide and can be integrated into any video surveillance system.
To be part of the CCTV future and trial Threat Detect, sign up today or book a meeting with our founders: BOOK A MEETING