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International Security Journal - August 2019 - Special Report

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special report market Analysis<br />

Market Analysis<br />

The next stage of surveillance<br />

<strong>International</strong> <strong>Security</strong> <strong>Journal</strong> analyses what the future of the<br />

surveillance industry may look like and the threats it will face<br />

To look back over the<br />

history of the global<br />

surveillance industry is<br />

to see a prime example<br />

of how technology<br />

advancements can<br />

revolutionise any particular market.<br />

The world’s first network camera in<br />

1996, built by Axis Communications,<br />

jolted the industry to switch from<br />

analogue to IP networks.<br />

Now the latest revolution is in the<br />

shape of the Internet of Things (IoT)<br />

and other smart technologies such<br />

as facial recognition. A <strong>2019</strong> study by<br />

Absolute <strong>Report</strong>s forecast that the<br />

worldwide surveillance market would<br />

grow at a CAGR of 11.9% over the<br />

next five years and will reach a value<br />

of US$55 billion by 2024.<br />

The report states that surveillance<br />

is most commonly used in China,<br />

with the country having a 38.3%<br />

market share with North America<br />

in second position, boasting<br />

a market share of 20.7%.<br />

Reducing friction<br />

Despite these impressive figures,<br />

there are challenges on the horizon<br />

that manufacturers must be<br />

prepared to overcome. Gijs van den<br />

Heuvel, a representative of the Open<br />

<strong>Security</strong> & Safety Alliance (OSSA)<br />

spoke exclusively with <strong>International</strong><br />

<strong>Security</strong> <strong>Journal</strong> about what the<br />

market should be concerned about.<br />

“There are a couple of challenges<br />

that run in parallel but are also<br />

undeniably intertwined. There is the<br />

skyrocketing amount of data being<br />

generated by the surveillance market<br />

that’s currently not being used to its<br />

fullest potential. Then there is the<br />

significant trust issue related to data<br />

security and privacy that’s caused<br />

by a lack of transparency and<br />

standardisation. And across<br />

the industry, by design, there<br />

exists friction between different<br />

brands, devices, software and<br />

data regarding interoperability.”<br />

42 | Isj <strong>International</strong><strong>Security</strong><strong>Journal</strong>.com

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