Many of you reading this are probably already selling or considering one or more of the following cloud solutions: hosted email, data backups, or network security-as-a-service. Some may even be offering virtualization services such as VDI (virtual desktop infrastructure) and virtual server services. One opportunity I’m betting isn’t yet on your radar, but should be, is IP video storage in the cloud.
Here’s why I think this is an opportunity you should consider: According to research conducted by Homeland Security Research, global intelligent video surveillance (IVS) and video analytics (VA) industry revenues totaled $13.5 billion in 2012 and are estimated to reach $39 billion in 2020. The study goes on to attribute the increased use of video surveillance and the migration from analog to digital cameras as two top drivers behind this trend.
According to the same study, in 2011 more than 165 million video surveillance cameras were installed worldwide and captured 1.4 trillion video hours. By 2020, it’s projected that the number of captured video hours will grow by more than 135% to 3.3 trillion! Even though we sometimes become desensitized to numbers of this size thanks to our national debt, it’s important to take a minute to consider the magnitude of this growth: All the video footage captured throughout the world in 2011 is going to more than double within the next seven years, resulting in more than $25 billion in revenue opportunities.
Another related and interesting trend happening in this market is that there is a shift occurring with regard to the type of companies selling and installing video surveillance solutions. Traditional CCTV and analog video dealers are either transitioning to — or being replaced by — systems integrators. The reason for this shift is due largely to the fact that analog video systems are being replaced by IP video solutions, which requires the kind of IT knowledge VARs, systems integrators, and MSPs already possess.
If you’re currently selling and configuring computers, servers, routers, switches, mobile devices, printers, fax machines, phone systems, and other IT assets that run on your customers’ IP networks, how much of a learning curve would it be to start selling IP video surveillance solutions? Even if your research concluded that expanding into this arena would be too much of an undertaking right now, you should still be thinking about ways to partner with IP video surveillance solution providers and becoming their trusted advisor for handling the cloud storage portion of their implementations. This move alone could become a very big deal for your business.