“The Video Surveillance as a Service (VSaaS) market expected to grow at a significant rate between 2017 and 2022”
The Video Surveillance as a Service market was valued at USD 1.70 billion in 2016 and is expected to reach USD 5.93 billion by 2022, growing at a CAGR of 22.0% between 2016 and 2022.
Increasing demand for real-time and remote access for video surveillance data, low initial investment required to avail VSaaS services, and flexible scalability offered by VSaaS are some of the factors driving the growth of the Video Surveillance as a Service market. Privacy concerns regarding the data usage restrain the growth of the market.
“Hosted VSaaS expected to lead the Video Surveillance as a Service market during the forecast period“
Hosted VSaaS offers advantages such as video recording in the cloud, remote access to the surveillance data, and low maintenance cost, among others, which makes it a desired choice among end users. Increasing usage of VSaaS in the small businesses or by customers having multiple business sites at different locations, such as retail chains and banks and financial institutions to monitor as well as detect malpractices such as thefts and frauds. Increasing adoption of video surveillance systems in commercial and infrastructure applications due to the increased security concerns and government support for the adoption of systems in applications such as city surveillance and public sector provide opportunity for the hosted VSaaS market.
“The Video Surveillance as a Service market in APAC to grow at the highest rate during the forecast period”
Increasing security concerns among educational as well as government and religious buildings, governments’ initiatives to enhance public safety, along with the increase in retail stores and malls, infrastructural projects, manufacturing sites are some of the factors driving the VSaaS market in the APAC region. Increasing adoption of consumer devices such as mobiles, tablets, and laptops, presence of system providers and availability of low cost systems and are some of the important parameters which spur the growth of the VSaaS market in APAC.
Break-up of the profiles of primary participants for the report has been given below:
- By Company Type: Tier 1 – 37%, Tier 2 – 45%, and Tier 3 – 18%
- By Designation: C-Level Executives – 27%, Directors – 49%, and Others – 24%
- By Region: Americas – 40%, Europe – 29%, APAC – 26%, and RoW – 5%
Axis Communications AB (Sweden), Honeywell International Inc. (US), Genetec Inc. (Canada), Brivo (US), Cameramanager (Netherlands), ADT Security Services (US), Cloudastructure Inc. (US), Duranc (US), Ivideon (US), NeoVSP (Israel), Nest Labs, Inc. (US), Pacific Controls (UAE), and Smartvue Corporation (US) are some of the major players in the VSaaS market.
The report defines, describes, and forecasts the Video Surveillance as a Service market segmented on the basis of type, vertical, and geography. It provides detailed information regarding the major factors influencing the growth of the VSaaS market (drivers, restraints, opportunities, and industry-specific challenges). It also analyzes the competitive developments such as joint ventures, collaborations, agreements, contracts, partnerships, mergers and acquisitions, product launches and developments, and R&D in the Video Surveillance as a Service market.
Reasons To Buy the Report:
- Illustrative segmentation, analysis, and forecast for the market based on type, vertical, and geography have been conducted to give an overall view of the Video Surveillance as a Service market.
- The major drivers, restraints, opportunities, and challenges for the VSaaS market have been detailed in this report.
- The report includes a detailed competitive landscape, along with key players, in-depth analysis, and revenue of key players.