Advancements in Cloud Video Surveillance to Watch in 2023

In the rapidly evolving field of video surveillance, technology is constantly improving to meet the needs of businesses and organizations.

FREMONT, CA: The global market for edge computing infrastructure will reach $800 billion by 2028. In 2023, businesses are rethinking their approaches to user behavior monitoring, security, and cost-cutting due to the widespread use of breakthrough AI-based solutions and integrated systems in the video surveillance market.

The necessity for business transformation will continue to fuel strong cloud adoption rates despite the current uncertainty. According to Gartner, global spending on public cloud services will climb from $494,7 billion in 2022 to about $600 billion in 2023.

Let's examine some influential trends affecting the cloud video surveillance business in 2023:

Future-proof and AI-ready video surveillance platforms

An AI business survey done by PwC in 2022 revealed that over fifty percent of enterprises have already deployed AI in some form, with more than twenty-five percent indicating widespread AI adoption across the organization. Businesses seeking success in this market seek video surveillance systems with AI and advanced analytics capabilities.

In the past, video surveillance systems were solely employed for security purposes but are now used to enhance company operations. Businesses need video surveillance systems compatible with artificial intelligence and can deliver essential insights from the data they collect. These systems give expanded capabilities, such as automatically identifying and transmitting real-time alerts on security issues and collecting data to provide insights, such as peak client traffic or wait times.

The future-proof features of cloud computing make it the best choice for enterprises. By utilizing the cloud, businesses are no longer obliged to invest in, maintain, and upgrade their hardware and software, substantially reducing IT expenses. Cloud is also very scalable, versatile, and dependable, allowing AI-powered features to be implemented.

Decreased operating expenses

It should be no surprise that cloud-based technology offers enterprises substantial cost reductions. The total cost of ownership is reduced compared to a conventional on-premises system due to the cloud's central location for data processing and video storage. The migration of computer and video storage infrastructure to the cloud has resulted in a 20-25 percent cost savings for businesses.

Many Video Surveillance Service providers now provide discounts and price protection for the contract term to encourage clients to sign up for multi-year subscriptions. This allows clients to lock in current rates and avoid inflation-related price rises in the future.

According to a poll conducted by Eagle Eye Networks on their social media channels, three out of four security clients are already subscribed.

As the price of high-resolution cameras has decreased, organizations have increased their investment.

According to a recent Cloud Video Surveillance Camera Global Statistics analysis, the adoption of high-resolution IP security cameras has increased by 300 percent over the past five years. As resolution grows, so does the capacity to implement video analytics solutions, resulting in more efficient systems.