In the previous article we gave an update on the European security market. In this note we take a further look at verticals and technologies that stand out.
In the
previous article we gave an update on the European security market. While challenges still remain, security is going strong as businesses reopen and projects resume. In this note we take a further look at verticals and technologies that stand out.
In Europe, increased demand for security is seen in various verticals. There are certain ones, however, that are doing particularly well. These are discussed as follows.
Retail
Retail and hospitality are particularly strong, with more and more post-pandemic travelers coming from different places, including China. Against this backdrop, European retailers are using security to secure their premises as well as boost efficiency and make the customer experience better. “In retail, video surveillance can secure stock and stores, while also ensuring the safety of staff and shoppers by detecting potential shoplifting or loitering, crowd formation, slips and falls, and other potential accidents,” said Uri Guterman, Head of Product and Marketing at Hanwha Vision Europe.
Manufacturing
Across the globe, security is now being used by
manufacturers for security, safety and predictive maintenance purposes. Europe is no different. “In manufacturing, enter/exit and integration with access control can prevent unauthorized people from entering dangerous and restricted areas. Alerts can be issued for operators to investigate potential accidents, theft of equipment or stock, and machinery breakdown,” Guterman said.
Smart city
Smart city has also emerged as a hot topic in Europe, with Copenhagen, Oslo, Amsterdam, Berlin, Paris and London ranking within the top 10 sustainable smart cities in the world by Sustainability Magazine. This, then, has prompted European municipal administrators to turn to security to make their cities even smarter. “In smart cities, protections can scale to protect citizens from crime, anti-social behavior, fire, and other emergencies. Operators can be alerted to loitering and trespassing, crowds forming in an area, shouting, potential fire (via thermal cameras), vehicles unexpectedly stopping/accidents and more,” Guterman added.
AI as major technology trend
From the above, it’s not hard to find out that
AI is the common thread binding these verticals. Indeed, from law enforcement officials sifting through piles of video footage to healthcare operators monitoring patient falls, end users are increasingly using AI to make their job more effective and efficient. European users are not exempt from this as well.
“Specifically for our market, current market information shows that the use of deep learning in network cameras is expected to increase by 19.2 percent in 2023. The protection and security of buildings, facilities, premises and people in general, but also process optimization through the use of AI, as our solutions can create, are increasingly in demand – also from the experience of recent years,” said Thomas Lausten, CEO of MOBOTIX.
He added: “Many industries are realizing the benefits of intelligent, AI-powered video technology for analyzing and optimizing processes and workflows that go far beyond security applications, with data collection, analysis, and utilization playing the central role and trust in the provider being of paramount importance. With professional data management, we can help to reduce our customers' costs and open up new revenue opportunities. As part of business intelligence solutions, we thus create tangible added value for our customers.”
Neil Killick, EMEA Sales Director for Developed Markets at Milestone Systems, also cites the growing use of AI “to analyze the data collected by these systems to provide genuine insight into a site’s usage, busy traffic routes, the vehicles that use them, or the people entering and exiting a building." “Indeed, Milestone recently launched our XProtect Hospital Assist video solution that uses AI to alert hospital staff if a patient falls, freeing up staff to undertake valuable care work rather than spending their time monitoring patient safety. It is precisely these tangible uses of AI that really resonate with customers and deliver considerable business outcomes,” he said.
Yet increased adoption of AI has also created certain privacy concerns and underscores responsible use of data. “Political and public concerns around the uses of video technology continue to challenge security leaders this year, and this will increase as the capabilities of cameras grow due to AI. A lot of potentially sensitive, personal data can be captured by AI cameras, and this makes responsible use vital to the continued growth of the video surveillance sector,” Guterman said.
2024 outlook
As for 2024, most experts were upbeat, although in a cautious way. “We believe that growth will likely slow somewhat in 2024, as the European economies grapple with returning inflation to central bank target levels using interest rate hikes as the lever of control. This will inevitably impact investment decisions and timelines, however there will still be the need to replace and update the extensive stock of legacy infrastructure across many sectors though,” said John Davies, MD of TDSi.
“We expect further growth in 2024 as video becomes a core part of all business operations and not just a security tool, delivering managers accurate, real-time insights on what’s happening on-the-ground in their organisations. This represents the ongoing transformation of the security market, and is central to its growth,” Killick said.