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Video Surveillance as a Service Market 2018–By Identifying the Key Segments Poised for Strong Growth in Future 20
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Video surveillance as a Service is the process of monitoring & observing the activities, the behavior and movements of an individual or a group to provide improved security. Growing demand of cloud technology helps the organization like small and large business units to store their data into cloud for monitoring. This increase on-cloud deployment also play a major role in gain the large market share by the end of the forecasted period. Industrial segment such as retail stores, government departments, hospitals, transportation among others are some of the fastest growing area where video surveillance are used as service. The integration of the video surveillance solutions with a transportation industry is also a major area interest in recent years for most of the big players.
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The company like Hangzhou Hikvision Digital Technology Co., Ltd. a leading supplier of innovative video surveillance products and solutions, has teamed up with the Memphis Police Department (MPD) to protect the residents of Memphis in Tennessee, the U.S. The city has also built a Real Time Crime Center where they can view live video feeds and provide critical information to officers before they arrive at a crime scene.
The key drivers contributing to the growth of the global Video Surveillance As A Service Market are increasing adoption of high end cameras, and the growing internet of things technology in various sectors. Adoption of high camera such as HD camera, IP camera helps to capture clear, and accurate images that can be further be utilized for analysis as and when required. By the implementation of VSaaS services a robust security infrastructure can be created in remote areas without even deploying a manpower.
The emergence of advanced video surveillance technologies is also expected to drive the overall growth of the market. The restraining factors towards the growth of the market are network security, high infrastructure cost related to installation and corporate protocols.
Growing interest in smart cities, and implementation of CAPEX & OPEX model also acts a fuel in the growth of this market. Also, the competition developed by various local player in the market has benefited the companies by providing them with low installation cost and also supports in the initial investments which therefore acts a biggest threat for the major OEM in the market.
North America accounted for the largest market share, majorly due to high adoption of cloud video surveillance. The global video surveillance as a service market is expected to reach at USD ~2.7 billion with ~19% of compound annual growth rate.
The key players of global video surveillance as a service market report include, Brivo Inc, (U.S.) Bosch Security Systems (Germany),, Cisco Systems, Inc. (U.S.) Hangzhou Hikvision Digital Technology Co.,Ltd (China), Honeywell international Inc. (U.S.),, Panasonic System Networks Co. Ltd (Japan), Genetec (Canada), Cloudastructure Inc, (U.S.) , Neo Solutions, Inc (U.S.) and others.
The Global Video Surveillance as a Service market has been segmented on the basis of component, service, end-users and region. By component, the market has been bifurcated into hardware, software/ analytics. On the basis of services the market is segmented as managed hosted and others. On the basis end-users, the market includes- industrial, commercial, infrastructure and residential. Further, the market has been segmented into four regions which include- North America, Europe, Asia-Pacific and RoW.
North American countries- especially U.S. accounted for the largest market share majorly due to adoption of the security technology, growing focus on critical infrastructure protection, strict government regulations and advancements in the IT industry.
Asian countries is expected to be the fastest growing region during the forecast period 2016-2022, majorly due to growth of technology , awareness about video surveillance, increasing need for the cloud service, increasing demand for smart cities, government initiatives and safety regulations.
Furthermore, Europe is expected to grow at a steady pace over the forecast period 2016-2022, majorly due to advancements in the technology sector, government policies and increased adoption of cloud enabled video surveillance.
- Video Surveillance Manufacturers
- Video Surveillance Distributors
- Research firms
- Consultancy firms
- Software developers
- Vendors from various verticals such as Envision Inc, Axis Communications, Brivo Inc among others
- Semiconductor Manufacturers
- End-user sectors
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