Report: Increasing demand for video surveillance
Image source: http://www.2mcctv.com/blog/2012_12_21-10-video-surveillance-trends-predictions-for-2013/
According to a new research report, the global video surveillance as a service (VSaaS) market is expected to grow at a CAGR of 28.1 percent between 2012-2016.
“’Video Surveillance as a Service offers a company a number of benefits in terms of security and storage capacity,” a TechNavio analyst said in a statement. “A key trend being noticed in the Global VSaaS market, however, is that many VSaaS vendors have been offering key video analytics software as part of their product offering. Video analytics allows an end-user to analyze the video footage data through the measurement of certain parameters. For example, facial recognition software could be used to identify certain individuals in a company and the video analytics software can be used to maintain a counter of the number of times a particular individual has crossed an area.”
The report notes that increasing demand for video surveillance is a key factor driving the market. And as well, the group expects private and public institutions to improve overall security. Aptly, the report indicates that the demand for VSaaS is “completely dependent on the growth in the gobal video surveillance market.”
According to a separate report, Facial Recognition Market: Global Advancements, Emerging Applications, Business Models and Worldwide Market Forecast and Analysis (2013-2018), a major driving force in the market is the growth of the surveillance market as well as huge government spending.
MorphoTrust USA, a prominent provider of biometric technologies, and in particular, facial recognition, has just published a new infographic outlining how facial recognition technology helps law enforcement agencies bring criminals to justice.
http://www.researchandmarkets.com/research/w55v6c/global_video
Cybersecurity is a $207 billion dollar industry and it's expected to grow:
As the threat of cyberattacks grows, Maryland, Washington D.C., and Virginia want to cash in on the growing business of cybersecurity.
Analysts say that several states are using tax breaks to get in on the $207 billion cybersecurity industry, which, according to Entrepreneur.com, is expected to show “impressive growth” in the next five years.
The Valley News reports that the state of Maryland has rounded up $3 million in tax breaks to be distributed among cybersecurity startups currently located in the state, or which are willing to relocate to the state.
“It’s the new global threat, not only to our state and nation, but to the whole world,” Mark Vulcan, program manager at the Maryland Department of Business and Economic Development told the Valley News.
Vulcan added that the money from the tax break goes directly to the company, unlike what they do in other states.
Michael Colavito, state and local tax expert at Aronson LLC, saidthat although the companies get a tax break in Maryland, the state will still benefit if a company is successful because it will have to pay taxes to the state, but the break is a “refundable credit” so even if the company does not make a dime, it still applies.
Consultant Javier Siervo, with the Berkeley Research Group LLC, said Washington D.C. offers additional incentives to companies which are set up in the district and “derive most of their revenue from technology-related activities.”
http://www.homelandsecuritynewswire.com/dr20130625-states-eager-to-attract-cybersecurity-companies