The use of AI-computer vision technology to improve situational awareness and provide highly accurate advanced object detection analytics, reducing false alerts and delivering real time notifications, has been one of the biggest advancements in video analytics.
The implementation of this technology has grown increasingly over the past few years in verticals such as city surveillance, critical infrastructure, manufacturing, and healthcare, where it is used to analyze unstructured video surveillance data in real time and also to leverage actionable insights for improved operational efficiencies.
Serving SMB commercial and 'smart home' segments
Because of that, it’s not surprising to see that the global video analytics market is expected to grow from USD 4.9 billion in 2020 to USD 11.7 billion by 2025, according to MarketsandMarkets. Consequently, many companies are reportedly expanding their R&D and investment in enhanced AI video analytics capabilities to help improve the enterprise level real-time event detection.
The GPU accelerated hardware needed to run these applications significantly drives up the costs
Despite an increased adoption in the enterprise space, IFSEC Global found in a recent survey that cost and data concerns are amongst the top reasons for companies delaying these types of implementations which is supported by annual license fees that range from more than one hundred to several hundred dollars per camera per year. Additionally, the GPU accelerated hardware needed to run these applications significantly drives up the costs and if customers choose to select a cloud based platform, the recurring cloud fees also add up over time.
AI video analytics
This begs the question: if AI-based analytics are a cost concern for the Enterprise customer, what options do the commercial SMB and ‘Smart Home’ segments have? Most often, they are forced to accept less effective analytics that are included ‘for free’ - natively with their AI embedded NVRs and cameras - or try to utilize cloud-based consumer electronics options.
The consumer products have limited choices for object detection, camera resolutions and lenses, and again have recurring fees that make the TCO over three years expensive. Despite these selection challenges, the appetite is certainly there; according to Venturebeat the demand from both small- and medium-size businesses and consumers for more sophisticated AI video analytics is increasing. Yet, this market has remained underserved. Recognizing the gap in the market, Monitoreal has introduced an affordable AI-smart object detection appliance which uses AI-computer vision technology to deliver advanced analytics and real time alerts.
Designed with the customer in mind
The user can set up the device to automatically discover almost any IP camera in a matter of minutes
Designed with the need of the SMB commercial and ‘smart home’ segments in mind, this appliance resides securely behind the firewall, maintains the user’s privacy, and autonomously performs highly accurate object detection at the edge. Its flexibility allows for the device to be designed into new installs or added to millions of existing IP-based surveillance systems already deployed.
It also works with a wide array of camera models currently in place, to provide real time detection and alerts for up to 8 cameras. With a powerful yet simple web user interface (WUI), the user can set up the device to automatically discover almost any IP camera in a matter of minutes and is also able to set up multiple rules and zones of interest for each camera, with a drag and click of a mouse.
Value added solution for the professional channel
And perhaps most importantly, the products are comparatively affordable, with no recurring fees or additional fees for new features. Monitoreal’s company philosophy is based on the idea that the customer should have full control over their data, their privacy and their security. They believe that products should be priced simply, with no hidden fees or agenda and they allow integrator partners to have the flexibility to bundle the products with their recurring services contracts, if they choose to do so.
Furthermore, they have seen many of their partners find success in offering this solution to past customers by proposing the AI-smart object detection appliance as a way to maintain the relationship, add value and continue to monetize that customer.