The key factors driving the video surveillance, and VSaaS market include development of data centers, IT cost suppression by major corporates, new technologies and features, like field of view (FOV) and IOT (internet of things), along with the need for consolidated application and data management.
Video surveillance as a service is a cloud based internet recording of security camera video. It is delivered as a motion triggered digital video of 10-15 seconds, which are used during the day stamps for real time monitoring and forensics.
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The global video surveillance and VSaaS market can be categorized, on the basis of components, systems and by applications. On the basis of components, the global video surveillance and VSaaS market can be divided into hardware, cameras, recorders and storage, encoders, monitors, softwares, video management system, video analytics, services, managed, hosted, and hybrid components. Based upon systems, the market can be categorized, as IP based video surveillance, and analog video surveillance. The end use applications sector consists of residential, retail, business organizations, transportations, hospitality, industrial, government buildings, stadiums, healthcare, and others. Among the end user application areas, the largest segment in the video surveillance and VSaaS market is the transportation segment, which involves public transits, city surveillance, and highways.
Due to the rising need for surveillance cameras with improved video quality, the demand for IP-based video surveillance systems is increasing, worldwide. Cameras held the largest share from the video surveillance hardware market, while hardware covered around 85% of the total video surveillance and video surveillance as software (VSaaS) market. Further, the market is undergoing substantial growth in demand for video analytics solutions and cloud-based surveillance solutions. Video analytics reduces the human need for analyzing and monitoring, video feeds in real time. There is rising demand for such intelligent surveillance organizations to provide real time understandings, with automatic alarm and event notifications.
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Currently, video surveillance as a service (VSaaS) is used in institutional, infrastructural, commercial, industrial, and residential applications. Storage of enhanced data for GSM evolution (EDGE), intelligent business services, and mobile device access are some of the opportunities anticipated to open new prospects, for the growth of the video surveillance and the VSaaS market. Geographically, North America, and Europe dominate the global video surveillance and the VSaaS application market. High growth is expected from Asia-Pacific countries such as Japan, China, and India, owing to the constant demand for video surveillance as a service (VSaaS) in this region.
Video surveillance system is a combination of software and hardware components and is used to capture and analyze video. The video surveillance system market is expected to grow by double digit (16%, approximately), in the coming future. The rise in the security threats and crime rate in all regions across the globe is stimulating the growth of the video surveillance market.
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On the other side, corporate and bandwidth protocols, high infrastructure cost and network security are the major challenges in the growth of the global video surveillance, and VSaaS market. The Asia-Pacific region is anticipated to grow at a tremendous rate, due to the increasing consciousness of video surveillance, growth of technology, and the constant increasing need for cloud services, as a preference for efficient application and data management.
Some of the major competitors in the video surveillance, and VSaaS market include Hikvision Digital Technology Co. Ltd., Honeywell International Inc., Dahua Technology, Canon India Pvt. Ltd., and Robert Bosch GmbH, Pelco Inc.
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