A new report from Transparency Market Research (TMR) pegs the overall value of the global video surveillance and VSaaS market at US$14.9 bn in 2013. Rising at an impressive CAGR of 18.10%, the market is anticipated to reach US$48.3 bn by 2020. The report is titled “Video Surveillance and VSaaS Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020” and is available on the company website for sale.
Browse the full Video Surveillance and VSaaS (By Type – Analog and IP-based; By Components – Hardware, Software and VSaaS; By End-use Industry -Residential, Retail, Business Organizations, Transportation, Government Buildings, Hospitality, Industrial, Stadiums, Healthcare Organizations and Others) Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020 report at https://www.transparencymarketresearch.com/video-surveillance-vsaas-market.html
With technology pervading every sphere of our lives, consumers, businesses, and public institutions are becoming wary of the heightened risks that transpire as spinoffs of IP connectivity. Businesses and public institutions around the world are keenly aware of the indispensability of virtual connectivity, however, this does not mitigate the mounting security threats.
“The global market for video surveillance and VSaaS is driven by the escalating number of security measures and regulations adopted by governments worldwide focused on preventing terrorism, crime, and cyber theft,” said a lead TMR analyst. “Furthermore, a paradigm shift from analog to IP-based cameras has fuelled the demand for high-capacity storage, which consequently is driving the market for video-surveillance-as-a-service (VSaaS) and storage”.
VSaaS is a wireless system of surveillance that provides an extraordinary level of safety and control through the cloud. Since these video surveillance systems are affordable and offer the benefits of minimal maintenance and safe approach for system integrators, they are touted as reliable and scalable alternatives to existing security systems.
VSaaS, software, and hardware constitute the different components of video surveillance and VSaaS. Among the segments of the market on the basis of hardware, video surveillance cameras accounted for about 34% of the market in 2013. Increased application of cameras in traffic monitoring, demographic monitoring, and for security purposes fuels the demand for video surveillance cameras worldwide.
Regionally, North America has emerged as the largest market for video surveillance and VSaaS products. The region has been at the forefront of adopting and deploying advanced security measures due to high incidence of terror activities and shift from analog-based to IP-based systems. Among the key regional markets, Asia Pacific will exhibit the most lucrative prospects for the video surveillance and VSaaS market. With positive encouragement from governments to prevent security threats, the video surveillance and VSaaS market in Asia Pacific will exhibit a robust CAGR of 22.20% between 2014 and 2020.