The global IP video surveillance and VSaaS market is projected to register a robust CAGR during the forecast period, between 2021 and 2028. A video surveillance system records photos and movies, which can be compressed, stored, or transmitted across a network. A video surveillance system uses electronic equipment to monitor activities or other changing information. Security and monitoring are essential for all companies around the world. Cloud technology and video surveillance devices, as well as the utilization of multi-megapixel HD cameras, are used to provide video surveillance as a service (VSaaS), and large amounts of video surveillance data are generated.
Market Trends, Drivers, Restraints, and Opportunities
- The low cost of investment, flexible scalability, and increased demand for real-time monitoring data, provided by VSaaS are the primary reasons driving the market.
- Increased trends toward smart city development are likely to provide profitable opportunities for market growth.
- Some of the factors driving the IP video surveillance and VSaaS market include an increasing transition from analogue to IP surveillance cameras, as well as an increase in the requirement for safety in high-risk locations.
- Increasing number of security concerns on a global scale, as well as increased investment in sophisticated surveillance network development is projected to drive the market.
- Increasing frequency of terrorist incidents is the primary factor projected to drive the market.
- Increasing concerns about data privacy and security may hamper the growth of the VSaaS market.
- The high installation cost and vulnerability act as major restrictions for the market growth.
Scope of the report:
The report on IP video surveillance and VSaaS market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
IP video surveillance and VSaaS Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Managed, Hybrid, and Hosted), Products (Analogue and IP-Based), Components (Cloud-based Solutions, Services, Hardware, and Software), Applications (Commercial [Banking & Financial Buildings, Enterprises, Hospitality Centers, Retail Stores & Malls, and Warehouses], Infrastructure [Utilities, Public Places, and Transportation & City Surveillance], Military & Defense, Entertainment, Residential, Public Facilities, [Educational Buildings, Government Buildings, Religious Places, and Healthcare Buildings], and Industrial)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Avigilon; Panasonic Corporation; Axis Communications Ab; Dahua Technology Co. Ltd.; The Infinova Group; Hangzhou Hikvision Digital Technology Co., Ltd.; D-Link Corporation; Honeywell Security; Bosch Security Systems Gmbh; and Pelco
IP Video Surveillance and VSaaS Market Segment Insights:
The hosted segment is projected to hold a significant market share
Based on types, the IP video surveillance and VSaaS market can be segmented into managed, hybrid, and hosted. The hosted segment is projected to hold a significant market share. Growing concern among users about boosting security, increasing number of government initiatives to increase public security, and continuing advances in infrastructure, especially transportation hubs are driving the market. The increasing smartphone usage in developing countries, technological innovations in telecom networks such as availability of LTE and emerging trend of 5G, and the availability of high-speed Internet are assisting the market. Furthermore, increasing number of smart cities and growing necessity of VSaaS for SMBs, retail, and residential applications are boosting the VSaaS market.
The IP- based segment is anticipated to account for a substantial share
On the basis of product types, the market can be bifurcated into analogue and IP-based. The IP- based segment is anticipated to account for a substantial share. The IP-based segment is expected to account for a substantial share due to benefits such as improved image resolution and integrated analytics engines. Other factors projected to drive the segment include increased knowledge of the benefits of optimal IP surveillance systems, such as improved video content analysis, improved system health monitoring, and easy video information retrieval.
The hardware segment is projected to hold a major market share
In terms of components, the IP video surveillance and VSaaS market can be fragmented into cloud-based solutions, services, hardware, and software. The hardware segment is projected to hold a major market share. Surveillance cameras as hardware are expected to rise rapidly, owing to increased sales of IP cameras with integrated recorders. Cameras, recorders, and storage devices are key hardware goods; the necessity for efficient security in public places and sporting events is likely to increase worldwide surveillance camera demand.
The commercial segment is projected to expand at a rapid pace
Based on applications, the market is segregated into commercial, infrastructure, military & defense, entertainment, residential, public facilities, and industrial. The commercial segment is further segmented into banking & financial buildings, enterprises, hospitality centers, retail stores & malls, and warehouses. The infrastructure segment is fragmented into utilities, public places, and transportation & city surveillance. The public facilities segment is divided into educational buildings, government buildings, religious places, and healthcare buildings. The commercial segment is projected to expand at a rapid pace during the forecast period. The commercial vertical is seeing an increase in demand for VSaaS to improve security, prevent robbery, and reduce inventory loss. The growing use of VSaaS in the hospitality industry to detect potential hazards is also propelling the VSaaS market in the commercial vertical.
Asia Pacific is expected to dominate the market
In terms of regions, the IP video surveillance and VSaaS market is categorized as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market. Growing populations of China and India are driving demand for smart video monitoring solutions. Demand for VSaaS is driven by government measures to improve public safety and promote infrastructural development in the region.
- Cloud-based solutions
- Banking & Financial Buildings
- Hospitality Centers
- Retail Stores & Malls
- Public Places
- Transportation & City Surveillance
- Military & Defense
- Public Facilities
- Educational Buildings
- Government Buildings
- Religious Places
- Healthcare Buildings
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
By Key Players
- Panasonic Corporation
- Axis Communications Ab
- Dahua Technology Co. Ltd.
- The Infinova Group
- Hangzhou Hikvision Digital Technology Co., Ltd.
- D-Link Corporation
- Honeywell Security
- Bosch Security Systems Gmbh
Key players in the IP video surveillance and VSaaS market include Avigilon; Panasonic Corporation; Axis Communications Ab; Dahua Technology Co. Ltd.; The Infinova Group; Hangzhou Hikvision Digital Technology Co., Ltd.; D-Link Corporation; Honeywell Security; Bosch Security Systems Gmbh; and Pelco. These players have actively engaged in several market development activities including collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to increase their market share.