Video monitoring and analytics expected to rise by 9% within year

Juniper Research has conducted a study and found that the total spend on video monitoring and analytics will exceed $89 billion globally by 2025.

This has risen from $82 billion in 2023, with an expected growth of 9% in 24 months.

The report has predicted that VSaaS will be one of the main driving forces to this growth as it transforms traditional video monitoring solutions into comprehensive security systems.

VSaaS incorporates cloud-based storage into video monitoring, unifying the management of these systems to allow for remote control and administration.

Enabling this level of management is crucial for the integration of IoT devices with video monitoring, pushing growth in key vertical markets such as smart cities.

About the research

The new research suite offers the most comprehensive assessment of the video monitoring and analytics market to date.

It includes market analysis and in-depth predictions for 60 countries. The dataset contains over 11,400 market statistics within a five-year period.

It includes a country readiness index to examine future market opportunities and competitor leader board to assess the leading vendors in the market.

Cybersecurity as main challenge for video monitoring and analytics

The study identified cybersecurity as the biggest challenge for video monitoring and analytics growth, due to the increasing volumes of sensitive data being produced and stored on cloud-based video monitoring platforms.

The report urges video monitoring and analytics vendors to tackle cybersecurity concerns by encouraging the use of end-to-end encryption for video data, both when the data is in transit and at rest. 

“VSaaS models to include high levels of end-to-end encryption”

Georgia Allen, a research author commented: “VSaaS provides an ideal platform to tackle these cybersecurity concerns.

“Video analytics vendors must build VSaaS models to include high levels of end-to-end encryption for storage and transmission of data.”

She concluded: “Additionally, this will enable providers to easily integrate new video analytics services, such as AI-based facial recognition and behavioural analysis, into complete video monitoring solutions.”