2014 is set to be a big year for the video surveillance industry. And, according to a new report from IHS Technologies, 360-degree cameras are going to help drive overall growth throughout the year.
The global market for video surveillance equipment will grow more than 12 percent this year, according to IHS. Revenue should reach $15.9 billion in 2014.
Part of this growth is coming from high demand for 360-degree network cameras, according to IHS. Global shipments of 180/360-degree panoramic network cameras is expected to increase an incredible 60 percent year-on-year.
360-degree network cameras are especially useful in facilities that require surveillance of wide, open areas, such as retail locations, airports and public spaces. In fact, IHS predicts that city surveillance will be one of the faster-growing vertical markets, which could further drive 360-degree camera sales.
Another reason 360-degree cameras are becoming increasingly popular is their ability to save end users money. A single 360-degree fisheye camera can significantly reduce the number of cameras, infrastructure and security personnel needed to monitor a large area. In many applications, a single 360-degree camera is able to continuously monitor and record an entire area and can replace up to seven traditional security cameras.
As 360-degree cameras are installed in a growing number of surveillance systems, end users will benefit greatly from video management software that features dewarping capabilities, which allow them to view the complete video image without the typical fisheye distortion. WavestoreUSA’s VMS features a built-in dewarping function that enables users to optimize both live and recorded views from 360-degree fisheye surveillance cameras. The feature simultaneously displays multiple dewarped images from a single hemispheric camera stream, while a virtual PTZ allows operators to view enlarged portions of the total image. The software receives and stores only the original 360-degree stream to minimize network traffic, keep storage to a minimum and ensure video data can be used as evidence in a court of law.
A growing number of end users are beginning to see the benefits of 360-degree cameras. As this exciting technology becomes increasingly popular, we’re excited to see where it takes the surveillance industry as a whole.