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Global Video Surveillance Systems Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)

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New York, Dec. 23, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Video Surveillance Systems Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06192780/?utm_source=GNW
These next-generation cameras are well equipped with high-performance computing power and video analytics, enabling the users to transform real-time images into big data analysis. Under social distancing practices and norms, several video analytic techniques have been commonly deployed in order to take precautionary measures, including queue management, people counting, crowd detection, and personal protective equipment (PPE) detection.

Key Highlights
The growth of the video surveillance market is expected to be fueled by the introduction of new IP-based digital technologies to detect and prevent undesirable behaviors, such as shoplifting, thefts, vandalism, and terror attacks. ?Video surveillance is being adopted in multiple industries that include manufacturing, banking & financial services, and transportation, retail industries, among others. The incorporation of these systems is higher in countries such as the United States, the United Kingdom, India, China, and Brazil, majorly owing to the larger size of the concerned industries and higher awareness among consumers.?
Additionally, the deployment of video analytics, along with video surveillance cameras, to identify potential felons is expected to aid in reducing the crime rate in various countries. Furthermore, this is expected to increase the demand for an integrated surveillance system. For instance, Surat police in the state of Gujarat, India, operates a network of 604 cameras in 114 different locations for easy detection of criminals. Moreover, they have been using video-based analytics solutions, which are deployed at the command-and-control center, primarily to track down street crimes. The software deployed was a facial recognition and automated number plate recognition (ANPR) solution. The overall solution includes software for detecting cases of overspeeding as well.
VSaaS has been witnessing a significant improvement, in terms of adoption, in the past few years. This is primarily due to the market penetration of IP camera sales. Significant factors, such as IT cost containment by major IT organizations, the emergence of data centers, and improving functionalities associated with centralized data, are aiding the VSaaS segment’s growth. ?
The Asia Pacific video surveillance market has grown significantly due to the increasing use of video surveillance cameras in the field of security and law enforcement, mainly to reduce the crime rate in countries like India and China. For instance, according to the Chinese Ministry of Public Security, Ministry of Justice (China), Supreme People’s Procuratorate (China), Supreme People’s Court, in 2020, around 1.65 million theft crimes were committed in China. In China, cameras are primarily placed in public spaces and are funded by the government to deliver widespread video surveillance coverage within public areas.
?However, these video surveillance systems have also been viewed as a violation of privacy and are opposed by various civil liberties groups and activists. There have been increasing concerns about who watches the video and how the video might be misused because people expect that their personal information is used only for legitimate and specific purposes.

Key Market Trends

Commercial Segment is to Dominate the Market

The infrastructure segment includes road, rail, airports, stadiums, etc. Technological advancements in the video surveillance industry have led to the development of night vision cameras designed to work in low-lit areas. Infrastructure segments, specifically roads, need night-vision cameras to monitor traffic and keep track of suspicious activities. These factors are expected to accentuate the demand in the infrastructure segment.
Cameras offer a wide range of video surveillance applications, including scene monitoring, facial recognition, video smoke detection, remote video monitoring, automatic number plate recognition, etc. Presently, consumer requirements include cameras of HD-compliant 1080p 25/30 fps technology. With the growing need for security, high-definition technologies in video surveillance are expected to penetrate the market during the forecast period.
Cameras with pan, tilt and wide zoom features are preferred to detect and track intruders. 360-degree panoramic cameras and thermal infrared cameras, which can operate in the dark, are expected to witness increased adoption over the forecast period. The previous models of 4K cameras offer a lower frame rate resolution. However, the advent of 4K in video surveillance is much ahead in the consumer market, as compared to that of 1080p.
Further, the use of GPU (Graphics Processing Unit) in the video surveillance system is accelerating the camera capabilities by at least 25% higher performance, 30% higher camera counts at full HD resolution, and 30 frames per second against 15-30 frames per second, which was throwing a massive pile of CPU earlier.
Advent to this, the infrastructures have become smarter across the world in recent years, with the incorporation of Artificial Intelligence and deep learning technology-enabled cameras expected to increase during the forecast period. Several chip/processor companies are investing in developing AI chips for the cameras. For instance, in recent years, HiSilicon (Shanghai) Technologies Co. Limited launched a series of high-performance AI chips for the camera to address surveillance intelligence.
Another hardware advancement that occurred is the intelligent video surveillance cameras related to the concept of mobile vision. Consumer electronics companies are developing mobile application-based video surveillance cameras. For instance, Xiaomi introduced a 360-degree camera with mobile vision capabilities for smart home applications. The increase in smart home projects across the world is expected to contribute to the deployment of such technologies to improve public safety.

China in Asia Pacific is presumed to dominate the market

The introduction of the smart cities concept in the country is the major driving force for the video surveillance market in China. Advanced video surveillance techniques have been integrated with the city administration to boost efficiency. Yinchuan city in China is an example of an advanced smart town where everything, from buses to dustbins, is integrated into a unified system.
One of the pioneer systems designed using video surveillance was the Hangzhou “City Brain” project, created by Chinese retail and tech company Alibaba, which uses camera systems and sensors across the city to collect data on road conditions in real-time. The data is fed to an AI hub, which manages traffic signals at 128 intersections and helps city officials make better decisions faster.
China is making progress on a surveillance system that will connect security cameras nationwide via a cloud to a database of every person’s facial ID profile and a file of their personal details, according to an article in the South China Morning Post (SCMP). The article has led to a discussion as to whether the system already exists and what its potential dangers may be.
The SCMP piece updates the story on the Chinese government’s plan to implement a national system that could use surveillance cameras to identify any one of China’s 1.3 billion people within 3 seconds and with at least 88% accuracy. The project has been underway since 2015, and various technology companies have been involved. It is, however, facing some technical difficulties.
China is a major driver for AI surveillance worldwide, as it is home to companies, such as Huawei, ZTE, Dahua, and Hikvision, that provide surveillance technology for over 63 countries, with 32 of them signed onto China’ Belt and Road Initiative.

Competitive Landscape

The Video Surveillance Systems Market is highly competitive due to the presence of many key players constantly upgrading themselves to gain a competitive advantage over other players. The video surveillance market is currently dominated by major players like Honeywell Security Group, Bosch Security Systems Incorporated, Samsung Group, Schneider Electric SE, Panasonic Corporation, among others.

December 2021: Axis Communications launched an open-source project for video authentication that ensures the integrity of surveillance video, and it is implemented in the company’s cameras. Axis has published a document detailing a framework that will serve as a starting point for partners to implement integrated video authentication methods.
September 2021: Bosch’s Intrusion Control Panels (B and G Series) were integrated with LENSEC’s Perspective Video Management Software (PVMS). This new partnership of the companies would allow security operators to manage intrusion, fire, and access control systems while monitoring video surveillance cameras behind one pane of glass.
April 2021: FLIR and Neurala partnered to develop AI-Powered Industrial Machine Vision. This new imaging system allows users to rapidly create deep learning models using Neurala’s Brain Builder on the VIA platform with little data and no AI expertise. These models can be directly uploaded to a Flir Firefly DL camera using the free Flir Spinnaker software development kit.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06192780/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

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Oncolytics Biotech® Announces Upcoming Presentations at the American Society of Clinical Oncology Annual Meeting

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SAN DIEGO and CALGARY, AB, April 25, 2024 /PRNewswire/ — Oncolytics Biotech® Inc. (NASDAQ: ONCY) (TSX: ONC), a leading clinical-stage company specializing in immunotherapy for oncology, today announced the acceptance of two abstracts at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting, which is taking place from May 31 – June 4, 2024, in Chicago, Illinois. Details on the abstracts and poster presentation are shown below.

Title: Phase 1/2 randomized, open-label, multicenter, Simon two-stage study of pelareorep combined with modified FOLFIRINOX +/- atezolizumab in patients with metastatic pancreatic ductal adenocarcinoma.
Presentation Type: PosterAbstract Number: TPS4203Session Title: Gastrointestinal Cancer – Gastroesophageal, Pancreatic, and HepatobiliarySession Date and Time: June 1, 2024, 1:30 – 4:30 p.m. CTTitle: Pelareorep driven blood TIL expansion in patients with pancreatic, breast and colon cancer.Presentation Type: Online abstractAbstract Number: e14625
Abstracts will be published on the ASCO Annual Meeting website at 5:00 p.m. ET on May 23, 2024.
About Oncolytics Biotech Inc.
Oncolytics is a clinical-stage biotechnology company developing pelareorep, an intravenously delivered immunotherapeutic agent. Pelareorep has demonstrated promising results in two randomized Phase 2 studies in metastatic breast cancer and Phase 1 and 2 studies in pancreatic cancer. It acts by inducing anti-cancer immune responses and promotes an inflamed tumor phenotype — turning “cold” tumors “hot” — through innate and adaptive immune responses to treat a variety of cancers.
Pelareorep has demonstrated synergies with multiple approved oncology treatments. Oncolytics is currently conducting and planning combination clinical trials with pelareorep in solid and hematological malignancies as it advances towards registrational studies in metastatic breast cancer and pancreatic cancer, both of which have received Fast Track designation from the FDA. For further information, please visit: www.oncolyticsbiotech.com or follow the company on social media on LinkedIn and on X @oncolytics.
 
Company Contact
Jon Patton
Director of IR & Communication
[email protected]
 
Investor Relations for Oncolytics
Timothy McCarthy
LifeSci Advisors
+1-917-679-9282
[email protected]
 
 

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Internet of Things (IoT) Market to Expand at a Stellar 19.4% CAGR through 2031 | SkyQuest Technology

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WESTFORD, Mass., April 25, 2024 /PRNewswire/ — SkyQuest projects that the Internet of Things (IoT) Market will attain a value of USD 1572.37 billion by 2031, with a CAGR of 19.4% over the forecast period (2024-2031). Internet of Things (IoT) refers to the network of connected devices over the internet that are embedded with sensors and software. Growing adoption of automation around the world and advancements in connected device technologies are forecasted to be key factors driving the Internet of Things (IoT) market growth in the future.

Download a detailed overview:
https://www.skyquestt.com/report/internet-of-things-market
Browse in-depth TOC on “Internet of Things (IoT) Market”
Pages – 197Tables – 69Figures – 75Internet of Things (IoT) Market Overview:
Report Coverage
Details
Market Revenue in 2023
$ 380.6 billion
Estimated Value by 2031
$1572.37 billion
Growth Rate
Poised to grow at a CAGR of 19.4%
Forecast Period
2024–2031
Forecast Units
Value (USD Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Component Type, Application, and Region
Geographies Covered
North America, Europe, Asia Pacific, and the Rest of the world
Report Highlights
Updated financial information / product portfolio of players
Key Market Opportunities
Rising demand for connected healthcare and growing use of industrial automation solutions
Key Market Drivers
Advancements in connectivity and connected device technologies
 
 
Hardware is Estimated to Dominate the Global Market Share Owing to High Use of Hardware Components in IoT
Hardware components such as sensors and actuators are highly vital to the proper functioning of any kind of Internet of Things (IoT) device. Growing adoption of IoT devices in different industry verticals for various applications is promoting market growth via this segment. The development of new hardware solutions also helps this segment maintain its dominance.
Smart Agriculture is the Fastest-growing Segment Owing to Rising Adoption of Precision Agriculture Practice
Rising emphasis on improving agricultural yield and sustainability has resulted in the growing adoption of smart agriculture and precision agriculture practices. IoT devices play a crucial role in monitoring and controlling different elements of a smart agriculture setup that is mostly automated using different smart devices thereby contributing to the IoT market growth as well.
Growing Adoption of 5G Technology Allowing North America to Dominate the Global Internet of Things (IoT) Market
Rapid adoption of 5G technology and high use of cloud-based platforms are key factors allowing North America to lead the demand for Internet of Things (IoT) around the world. Surging investments in the research and development of advanced technologies and the presence of key tech giants such as Amazon, Google, IBM, and Microsoft also helps the dominance of this region. Canada and the United States remain the most lucrative markets for Internet of Things (IoT) companies in North America through 2031.
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/internet-of-things-market
Internet of Things (IoT) Market Insights:
Drivers
Advancements in connectivity and connected device technologies.Growing demand for Industrial IoT (IIoT) solutions.Increasing number of smart cities and development of smart infrastructure.Restraints
Lack of standardization of IoT devices and technologies.Privacy and data security issues.Interoperability challenges and complex integration scenarios.Prominent Players in Internet of Things (IoT) Market
MicrosoftCisco SystemsIntelSiemens (Germany)AWS (US)Oracle (US)Qualcomm (UK)SAP (Germany)IBM (US)Google (US)View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/internet-of-things-market
Key Questions Answered in Internet of Things (IoT) Market Report
What are the top drivers for Internet of Things (IoT) market going forward?Who are the leading Internet of Things (IoT) market players?Where will demand for Internet of Things (IoT) be high?Which component accounts for a dominant revenue share of the global Internet of Things (IoT) market?This report provides the following insights:
Analysis of key drivers (advancements in connectivity and connected device technologies, growing demand for industrial IoT (IIoT), development of smart infrastructure for smart cities, growing use of smart devices ), restraints (lack of standardization, complexities in integration, concerns regarding security and privacy of data), and opportunities (rising popularity of connected healthcare, increasing adoption of Industry 4.0, rising use of industrial automation), influencing the growth of Internet of Things (IoT) market.Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Internet of Things (IoT) market.Market Development: Detailed analysis of potential regions where the market has potential to grow.Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.Related Reports:
Global Internet of Things in Retail Market
Global Internet of Things (IoT) in Agriculture Market
Global Internet of Things (IoT) Microcontroller Market
Global IOT In Healthcare Market
Global IOT in Manufacturing Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific. 
Contact:
Mr. Jagraj Singh Skyquest Technology1 Apache Way,Westford,Massachusetts 01886USA (+1) 351-333-4748Email: [email protected] Our Website: https://www.skyquestt.com/

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Sapiens Unveils Enhanced Reinsurance and Analytics Solution Catering to Evolving Market Demands

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Latest version enhances operational efficiency, regulatory reporting, and strategic decision-making with robust business insights
ROCHELLE PARK, N.J., April 25, 2024 /PRNewswire/ — Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced the launch of its latest version of Sapiens ReinsuranceMaster.

The new release of Version 9 brings a multitude of enhancements and technology stack updates, designed to empower insurers and reinsurers with robust, enriched functionality to support business requirements. This includes automating global inter-company retrocession, facilitating U.S. NAIC statutory reporting (Schedule F), and real-time reinsurance allocation support (‘reinsurance as a service’).
The latest release offers a multitude of enhancements, with one of the standout features being the seamless integration of Sapiens Intelligence with Sapiens ReinsuranceMaster. This integration empowers users with advanced data capabilities and actionable insights through out-of-the-box reinsurance reports and analytics of the reinsurance portfolio’s performance.
In addition, the new release brings significant improvements to the user experience, with a revamped user interface, enhancements in processing performance through improvements and parallel processing mechanisms, improved scalability and operability. 
“With the growing significance of reinsurance in today’s volatile environment, our latest version of Sapiens ReinsuranceMaster with Sapiens Intelligence offers even greater value to insurers and reinsurers, catering to the ever-changing demands of this dynamic market,” said Roni Al-Dor, Sapiens President & CEO. “Leveraging the shared experience from our other products as well as requirements from our global client base, the solution is now very well-positioned to support global automation of complex reinsurance programs and provide management with insights into reinsurance performance as well as statutory reporting.”  
Sapiens ReinsuranceMaster is a comprehensive, single platform for large and multi-national reinsurance programs, providing full financial control and flexibility across all lines of business. The solution supports the entire range of reinsurance contracts, providing full support for all auditing requirements and a consolidated view of liabilities and risks, as well as helping prevent financial leakage.
Sapiens Intelligence, now a fully integrated component of Sapiens ReinsuranceMaster v.9, produces actionable insights to maximize the value of data and KPIs for smarter decision making, improving reinsurance business management.
About Sapiens  
Sapiens International Corporation (NASDAQ and TASE: SPNS) empowers the financial sector, with a focus on insurance, to transform and become digital, innovative, and agile. With more than 40 years of industry expertise, Sapiens’ cloud-based SaaS insurance platform offers pre-integrated, low-code capabilities across core, data, and digital domains to accelerate our customers’ digital transformation. Serving over 600 customers in more than 30 countries, Sapiens offers insurers across property and casualty, workers’ compensation, and life insurance markets the most comprehensive set of solutions, from core to complementary, including Reinsurance, Financial & Compliance, Data & Analytics, Digital, and Decision Management. For more information visit https://sapiens.com or follow us on LinkedIn  
Investor and Media Contact : Yaffa Cohen-Ifrah Sapiens Chief Marketing Officer and Head of Investor Relations Email: [email protected] 
Forward Looking Statements
Certain matters discussed in this press release that are incorporated herein and therein by reference are forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, that are based on our beliefs, assumptions and expectations, as well as information currently available to us. Such forward-looking statements may be identified by the use of the words “anticipate,” “believe,” “estimate,” “expect,” “may,” “will,” “plan” and similar expressions. Such statements reflect our current views with respect to future events and are subject to certain risks and uncertainties. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to:  the degree of our success in our plans to leverage our global footprint to grow our sales; the degree of our success in integrating the companies that we have acquired through the implementation of our M&A growth strategy; the lengthy development cycles for our solutions, which may frustrate our ability to realize revenues and/or profits from our potential new solutions; our lengthy and complex sales cycles, which do not always result in the realization of revenues; the degree of our success in retaining our existing customers or competing effectively for greater market share; the global macroeconomic environment, including headwinds caused by inflation, relatively high interest rates, potentially unfavorable currency exchange rate movements, and uncertain economic conditions, and their impact on our revenues, profitability and cash flows; difficulties in successfully planning and managing changes in the size of our operations; the frequency of the long-term, large, complex projects that we perform that involve complex estimates of project costs and profit margins, which sometimes change mid-stream; the challenges and potential liability that heightened privacy laws and regulations pose to our business; occasional disputes with clients, which may adversely impact our results of operations and our reputation; various intellectual property issues related to our business; potential unanticipated product vulnerabilities or cybersecurity breaches of our or our customers’ systems; risks related to the insurance industry in which our clients operate; risks associated with our global sales and operations, such as changes in regulatory requirements, wide-spread viruses and epidemics like the coronavirus epidemic,  and fluctuations in currency exchange rates; and risks related to our principal location in Israel and our status as a Cayman Islands company.
While we believe such forward-looking statements are based on reasonable assumptions, should one or more of the underlying assumptions prove incorrect, or these risks or uncertainties materialize, our actual results may differ materially from those expressed or implied by the forward-looking statements. Please read the risks discussed under the heading “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2023, to be filed in the near future, in order to review conditions that we believe could cause actual results to differ materially from those contemplated by the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.
 
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