Security Systems News

JAN 2019

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Page 6 of 36 JANUARY 2019 SECURITY SYSTEMS NEWS Security Stat S 2 By SSN Staff OYSTER BAY, N.Y.—Enterprise video surveillance camera con- nections will top 348 million by 2023 and these systems will gen- erate value-added services reve- nues of $12 billion, according to new research from ABI Research, a market-foresight advisory firm based here. ABI Research noted that as the video surveillance industry con- tinues its transition toward IP camera systems with edge and on-device analytics capabilities, solution providers continue to offer connected products and services with vastly stronger value propositions than tradi- tional, legacy analog systems. "Success within IoT is large- ly dependent on the ability of providers to create highly spe- cialized, value-added solutions based upon clearly defined use cases supported by mar- k e t d e m a n d , " Ry a n H a r b i - son, research analyst at ABI Research, said in the announce- ment. "More than in most other industries, video surveillance providers understand the value that this digital transformation can have on end-user experi- ence and have largely focused on crafting end-to-end surveillance solutions that include every- thing from device components to analytics and professional services including creation of Video Surveillance-as-a-Service (VSaaS) business models." The VSaaS model was largely borne out of the need for provid- ers to find new revenue oppor- tunities as competition from Chinese camera manufacturers such as Hikvision and Dahua were driving down hardware profit margins, according to ABI. "Additionally, providers realized there was substantial value in integrating video surveillance systems with other surveillance systems such as access control and intruder alarms," the firm said. "Solution providers such as Dell EMC, Pelco, and Gene- tec offer extensive professional services in the form of systems integration, device installation, and customized end-user solu- tions. These services are critical across all deployments, and as a result, video surveillance pro- fessional services will generate worldwide revenues of $12 bil- lion in 2023." In the United States, there are additional opportunities for non-Chinese providers due to the U.S. government's recent ban on video surveillance equipment from Chinese OEMs, according to ABI, which noted, "Compa- nies such as Dell EMC and Pelco can utilize their extensive pro- fessional services offerings to help U.S. entities and enter- prises transition away from their existing Chinese-banned equip- ment to compliant systems." Harbison concluded, "While a lot of attention in the video sur- veillance industry is on China's camera equipment manufactur- ers, providers need to realize that for the most part, China buys China. In the short-term, providers should be focused on the U.S. market not only replacing Chinese OEM equip- ment but also identifying and selling solution services. By focusing on the right solutions with the right value-added ser- vices to the right markets, video surveillance solution providers can maximize the opportunity in this competitive market." These findings are from ABI Research's Connected Enter- prise Video Surveillance Solu- tions report, which is part of the company's IoT, IoE & M2M re s e a rc h s e r v i c e , i n c l u d i n g research, data, and "Executive Foresights." ssn Enterprise video to generate $12 billion in services revenue by 2023 Enterprise video surveillance camera connections to top 348 million by 2023, providing opportunities for added-value services 989.891.2800 | Become a sponsor and build relationships with business leaders and experts in security. The 2019 Tech Security Summit is a new must-attend event for professionals in all sectors of the security industry. This inaugural gathering at the Sheraton Grand Nashville Downtown in Nashville, Tennessee combines valuable input from our DICE users with top-tier speakers and educators specializing in technology and strategies for a fast-changing industry. Register today at Experience the future of security technology at the 2019 Tech Security Summit April 29-May 2, 2019 What to expect: Panels • Product Demos • Exhibitor Showcases Education and Training • DICE User Collaboration Round Table Discussions • Networking and Group Activities • Business Leaders • Central Station Managers • IT Professionals • Dealers • Systems Distributors Tech Security Summit Who should attend: DICE Corporation and the DICE Corporation logo are registered trademarks of DICE Corporation in the US and other countries. Copyright 2018 DICE Corporation. All rights reserved. 1.800.786.3423 | 989.891.2800 International TECH SECURITY SUMMIT 989.891.2800 | Become a sponsor and build relationships with business leaders and experts in security. TECH SECURITY SUMMIT TECH SECURITY SUMMIT

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