Global Video Surveillance as a Service Market Growth Facilitated by Declining Camera Prices

Inkwood Research estimates that the Global Video Surveillance as a Service Market is evaluated to project a CAGR of 18.55% in terms of revenue during the forecasting years of 2021-2028.

"Browse 41 Market Data Tables and 43 Figures spread over 170 Pages, along with an in-depth TOC on the Global Video Surveillance as a Service Market Forecast 2021-2028."

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Video surveillance, as a service, is essentially a hosted platform that provides viewing and recording videos through the web. The cameras are installed at the users' site, and the video is streamed to the system at the provider's facilities. Recent innovations across data storage technologies as well as the need for centralized storage have resulted in the increased adoption of video surveillance, as a service.

Declining Camera Prices to Propel Market Growth
The prices of security solutions, including IP cameras, are rapidly dropping. Moreover, with a new array of technologies, there is no need for an internal server in order to store the camera data, since it is stored in the cloud. This leads to a cost-effective and easy installation of security solutions. Earlier, the costs of security products were high, and therefore not affordable for small-scale residential and business owners. The declining prices of such solutions are mainly accredited to their increased demand and rising competition among vendors.

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Hosted to be the Dominating Service by 2028
The hosted segment includes recording the video and delivering off-site hosting for products, such as cameras. The recorded video is then safely stored in a data center or a remote server.

Moreover, the end-user can also watch a live or recorded video, as per their requirements. Hosted video surveillance as a service is used to manage the recorded and stored data within the cloud. It is available in a monthly subscription format. Besides, the end-user can customize the plan according to their needs, as well.

Asia Pacific to Lead the Global Market
The expanding infrastructure across developing countries like India and China has significantly pushed the market growth in the Asia Pacific.

Moreover, the declining costs of the overall-CCTV based security system package, owing to reduced video camera prices, has boosted price competitiveness, particularly in the Indian, Chinese, and South Korean market. Moreover, several product launches and technological advancements within the region's surveillance security sector are likely to offer numerous market growth opportunities.

The industrial rivalry among suppliers is projected to be high during the forecast period. Several major companies, including Honeywell International, Bosch, and Cisco, have entered the market due to its lucrative nature and possess the required expertise to deliver the service. They are also in a position to charge more, given their brand name. Some of the leading companies operating in the market are, Axis Communications AB, Envysion, Cloudastructure Inc, etc.

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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.

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