Global Video Surveillance and VSaaS Market to Exhibit 18.10% CAGR, Driven by Deployment across Numerous End-use Sectors

A new report from Transparency Market Research (TMR) pegs the overall value of the global video surveillance and VSaaS market at US$14.9 bn in 2013. Rising at an impressive CAGR of 18.10%, the market is anticipated to reach US$48.3 bn by 2020. The report is titled “Video Surveillance and VSaaS Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020” and is available on the company website for sale.

With technology pervading every sphere of our lives, consumers, businesses, and public institutions are becoming wary of the heightened risks that transpire as spinoffs of IP connectivity. Businesses and public institutions around the world are keenly aware of the indispensability of virtual connectivity, however, this does not mitigate the mounting security threats.

“The global market for video surveillance and VSaaS is driven by the escalating number of security measures and regulations adopted by governments worldwide focused on preventing terrorism, crime, and cyber theft,” said a lead TMR analyst. “Furthermore, a paradigm shift from analog to IP-based cameras has fuelled the demand for high-capacity storage, which consequently is driving the market for video-surveillance-as-a-service (VSaaS) and storage”.

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VSaaS is a wireless system of surveillance that provides an extraordinary level of safety and control through the cloud. Since these video surveillance systems are affordable and offer the benefits of minimal maintenance and safe approach for system integrators, they are touted as reliable and scalable alternatives to existing security systems.

VSaaS, software, and hardware constitute the different components of video surveillance and VSaaS. Among the segments of the market on the basis of hardware, video surveillance cameras accounted for about 34% of the market in 2013. Increased application of cameras in traffic monitoring, demographic monitoring, and for security purposes fuels the demand for video surveillance cameras worldwide.

With industries increasing their investment to develop a more sophisticated infrastructure, the demand for video surveillance and VSaaS is likely to rise tremendously in forthcoming years. The deployment of these systems across end-use sectors including retail, residential, industrial, transportation, business organizations, and government buildings has been very promising, thereby giving a significant boost to the global market for video surveillance and VsaaS.

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Regionally, North America has emerged as the largest market for video surveillance and VSaaS products. The region has been at the forefront of adopting and deploying advanced security measures due to high incidence of terror activities and shift from analog-based to IP-based systems. Among the key regional markets, Asia Pacific will exhibit the most lucrative prospects for the video surveillance and VSaaS market. With positive encouragement from governments to prevent security threats, the video surveillance and VSaaS market in Asia Pacific will exhibit a robust CAGR of 22.20% between 2014 and 2020.

Key Segments of Video Surveillance and VSaaS Market:

By Type
Analog Video Surveillance and VSaaS
IP-based Video Surveillance and VSaaS

By Component
Hardware
Cameras
Recorders and Storage
Encoders
Monitors
Software
Video Analytics
Video Management Software (VMS)
Video Surveillance as a Service (VSaaS)
Hosted
Managed
Hybrid

By End-use Sector
Residential
Retail
Business Organizations
Transportation
Government Buildings
Hospitality
Industrial
Stadiums
Healthcare
Others (Educational Institutions and Religious Infrastructure)

By geography
North America
Europe
Asia Pacific
Rest of the World (RoW)

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.