The report, from Marketsandmarkets, also suggests that rapid progress in Al and the growth of Smart City initiatives are expected to provide a strong opportunity for video as a sensor. In addition, privacy and security concerns and complexities in the integration of video as a sensor solutions are expected to be some of the restraining factors for the market. Challenges in data management & storage and some vendor lock-in & interoperability issues are expected to create challenges for the market of video as a sensor.

Management and integration software

Software video as sensor solutions is likely to grow at a high CAGR in the forecast period because they play an important role in improving video surveillance and machine vision system functionality and effectiveness. It includes video as a sensor software application such as Video Management Software (VMS), Intelligent Video Analytics Software, Al and Machine Learning Algorithms, and Integration Software. There is a need for management, monitoring, and analytics of video surveillance to drive VMS growth, while the adoption of detection of real-time threats through Al and computer vision will likely propel the development of intelligent video analytics software and adoption of object detection & recognition and predictive analytics technologies are expected to propel the growth of Al and ML algorithms. Integration software primarily uses interactivity among different hardware components, such as cameras, sensors, and other software systems.

Hyperspectral imaging for detailed analysis 

Hyperspectral imaging is an imaging technology that captures and processes images at hundreds of different wavelength intervals within the electromagnetic spectrum. Most cameras capture images in only three spectral bands: red, green, and blue. Hyperspectral imaging systems acquire images over hundreds, or sometimes thousands, of contiguous spectral bands that provide detailed spectral information for every pixel in the image. Its applications include environmental monitoring, agriculture, mineralogy, remote sensing, medical imaging, and material inspection. They provide spectra of the details imaged and help carry out high-level analysis and material characterisation for valuable information and scientific discoveries in industry and research. Companies providing hyperspectral imaging solutions include Specim and Spectral Imaging Ltd. (Finland) and Corning Incorporated (US).

Government initiatives play a key role

The video-as-a-sensor government end-user market plays a key role in improving public safety, offering operational efficiency, and supporting various administrative functions. Governments utilise video as sensor technologies across many applications, such as public surveillance, traffic management, and emergency response. Such systems offer the advantages of real-time monitoring and data gathering. Also, this information can be utilised for decision-making and policy formulation. Some of the government's primary applications of video as a sensor technology include public safety. Government agencies install video sensor solutions in cities and urban parks and critical infrastructural areas to monitor crime and enhance security. For example, towns like London have installed several networked CCTV facilities that are not only helpful in preventing a crime but also aid the police when conducting investigations through forensic evidence.

Traffic management technology in demand

The major application of video as sensor technology is in the traffic management field, which focuses on optimising transportation systems and affording safe road transportation systems. Advanced video surveillance and analytics solutions are important to integrate into more efficient practices for traffic monitoring, control, and management in urban environments with increasing populations and significant issues regarding traffic congestion. Modern traffic management systems are equipped with web interfaces or mobile applications to access video feeds and analytics from a distance so that operators can handle traffic conditions from anywhere. Companies have come up with video as a sensor systems for traffic management. For example, Teledyne Technologies Incorporated provides advanced software solutions, and among these is the offering of very advanced traffic software for effective and efficient traffic management and control. Command-and-control software is fully equipped with comprehensive tools to monitor and administer multiple systems and operations.

Europe offers significant growth opportunities 

The video as a sensor market in Europe is growing rapidly owing to factors such as transformation in the region's security sector and technological advancements. The rising crime rate and terrorism have driven government and private organisations to invest in enhanced video surveillance systems. These systems deter criminal acts, support public safety, and enable law enforcement efforts. Protection of privacy in Germany in improving security drives the market; British government initiatives and private partnerships support the market's growth; and the need to ensure public safety in France is spurring the adoption of video as a sensor solutions.

Key players

Honeywell, Motorola, Dahua, Bosch, Hikvision, AT&T, IBM, Cisco, Axis Communications, Johnson Controls, Sony, Sharp, Teledyne, Corning and Pixart Imaging are some of the main players in this market and highlighted by the research.