84% of organizations to deploy advanced video technologies over next 24 months
European and UAE businesses turn to advanced video technologies to gain a competitive edge.
Europe and UAE will see a surge in deployment of advanced video technologies according to new research conducted by the global market intelligence firm IDC and sponsored by Milestone Systems.*
The research revealed key findings including industry plans, challenges, and opportunities for video technology investments.
Technology developments in artificial intelligence, image processing, cloud computing, and sensors are rapidly expanding organizations’ application of video and sensor technology and the business outcomes they deliver.
KEY FINDINGS
- Over the next 24 months, the majority (84%) of European and UAE organizations plan to deploy advanced video technologies, such as video analytics and sensor information.
- 26% of the organizations plan to establish a video technology platform centrally, which would be connected to other systems.
- Organizations around the globe are expected to spend $2.0 Billion in 2021 on Video Surveillance Analytics (source: Worldwide Video Surveillance Analytics Forecast, 2021–2025, IDC #US47835921, June 2021).
- Transport & Logistics and Critical Infrastructure show the most advanced level of maturity in terms of Video Technologies usage.
- Among the key capabilities required over the next three to five years, buyers highlighted process automation, facial recognition, smart analytics, artificial intelligence, and centralized cloud-driven deployment (source: Worldwide Video Surveillance Analytics Forecast, 2021–2025, IDC #US47835921, June 2021).
When it comes to Video Technologies investments and plans, three key stakeholders hold the helm: Security, Technology, and Operations Leads.
When asked about business challenges related to video technologies, two challenges rose above all others: 1) privacy protection and 2) security compliance concerns.
So, while the surveyed organizations appear to have plenty of planned video technology projects with business cases in place these projects are inhibited by concerns of possible missteps in terms of privacy and security.
* IDC White Paper, sponsored by Milestone Systems, UNLOCKING A VIDEOEMPOWERED NEW NEXT, doc #EUR148161021, September 2021
For more insights on the IDC survey, visit this page.
Survey Methodology
The study is based on existing IDC research, including IDC Digital Transformation and Software research, data from IDC’s Worldwide Spending Guides, and buyer and vendor conversations. IDC also carried out a dedicated Video Technologies survey interviewing C-suites in 320 UAE and European organizations across four industries: Government, Healthcare, Critical Infrastructure, and Transportation.
About Milestone Systems
Milestone Systems is a global leader within open platform video management software. More than 3,000 hardware and software partners can integrate their video solutions in our open platform for security and beyond security purposes in cities, schools, hospitals, and many other institutions.
We enable customers to see what their eyes cannot always see, and we help them understand what they are looking at so they can analyze the past, predict the future and make better decisions. For example, in cities video and sensor technology can enhance the performance and quality of services such as energy, connectivity, transportation and utilities. This can help city leaders to meet the needs of their residents and are important capabilities in creating an intelligent and more sustainable society.
Milestone Systems’ solutions are available in most countries around the world, with regional offices and sales representatives in more than 25 countries.
