Among the experts interviewed for the itWeek article is Evgeny Achkasov, director of the network equipment and telecom procurement department of MERLION.
Allied Market Research estimated the global video analytics market volume at the end of 2019 at $4.102 billion and predicted a CAGR of 22.7% for this market until 2027 (to $24.341 billion). At the same time, the main factors for the growth of this market are the increasing demand for cloud video surveillance and an increase in the volume of video data. CCTV cameras now generate over 850 PB of video data every day. Experts called the penetration of AI and machine learning technologies into video analytics an additional factor in the development of this market. Among the main business segments in which video analytics solutions are already used and actively developed are retail, medicine, logistics, financial services, and industry.
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Evgeny Achkasov, Director of the Department for Procurement of Network Equipment and Telecoms of MERLION: "The market of 'home' cameras suffers: the generally unfavorable situation in the country and the world, falling incomes of the population and other factors do not contribute to purchases of cameras for home use because this is not an essential item. As a result, by the end of 2020, sales fell by 26% in monetary terms. In the segment of corporate models, there is no drop in project sales, but even an increase of 4%; there are projects, and they will continue to appear (commercial objects, administrative buildings are being built, put into operation, and all of them are equipped with video surveillance systems). In 2020, there was a huge hype for webcams fueled by the massive shift to remote work. There was also a huge demand for thermal imagers - due to the lack of devices to measure employees' temperature. As for conventional IP cameras, be they home or corporate, this product has been present on the Russian market for almost 20 years, the demand for these solutions is stable, and there is no need to expect any "peak" of sales here."
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Read the full version of the article with the opinions of all speakers on the itWeek website.
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