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The future of video surveillance is in the cloud
By ioteo 2014-07-09
The global market for cloud-based video surveillance, also known as Video Surveillance as a Service (VSaaS), will continue to grow in the coming years due to an increasing demand for simple and affordable solutions that provide exceptional safety and security features.
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Large companies are already making big bets on this burgeoning market through acquisitions and other initiatives. Recent acquisitions show that the market is indeed moving toward fee-based premium services and products, while mediocre “free” solutions that offer minimal value propositions to end users are becoming increasingly unviable from both a business model perspective and a customer retention perspective.
“The IP video surveillance market has to evolve its business model to better adapt to changing market dynamics. Remember Kodak? Your children won’t. It dismissed digital photography as a passing fad, and its arrogance prevented it from seeing a world where photographic films was becoming increasingly irrelevant; as a result, the company itself became irrelevant,” said Luc Deleu, President of ioteo. “Hardware prices are dropping with each passing day, and camera manufacturers need to devise new strategies to ship more units and build recurring revenue. In mature markets like the EU and U.S.A., consumers welcome new technologies that can improve their lives and are willing to pay for superior service—this represents a huge opportunity for camera manufacturers.”
“We offer an innovative cloud-based video surveillance solution that can help camera manufacturers capitalize on their strengths and take advantage of this opportunity. Our firmware empowers an IP camera with more efficient bandwith optimization, enhanced security and more reliable motion detection, not to mention 30 days of continuous recording stored in a highly secured environment,” added Henry Ho, VP Asia of ioteo. “It is easy to install and even simpler to use. In fact, installation is so simple that even analog surveillance installers love it! The much lower acquisition cost also means more sales to end-users.”
ioteo is a leading provider of IoT solutions in Europe. Beginning 2014, ioteo will further strengthen its relationship with camera manufacturers around the world. A new office in Xinyi District, Taipei, Taiwan, will support the company’s expansion strategies; the company also has plans to upgrade its infrastructure in major European markets to support a larger user base—up to 150,000 cameras. Furthermore, the company is constantly establishing stable distribution channels to drive business growth and has recently rolled out a multilingual web portal and call center to more effectively support professional installers.
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Is there real business value in cloud-based video surveillance services? In short, yes. Many manufacturers have already integrated ioteo’s firmware into their cameras to support the use of ioteoCloud. With ioteo’s solution and an optional ioteoCloud subscription, IP cameras can incorporate cloud-based features and services that replace expensive video surveillance systems and all the troubles that come with them, such as the use of NVRs and complicated installation processes.
“We are continuously looking for new hardware and channel partners,” Luc said. “Our technologies provide our partners with access to cloud-based services free of charge, while revenue sharing opportunities create a win-win situation where everyone can benefit from this transitioning market.”