Market Scenario: —
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.
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.
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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 application, component, end user, service and lastly region. The application-based segmentation segments this market into commercial, industrial, infrastructure, residential, and others. On the basis of components, the market got segmented into hardware and software/analytics. By end-users, the market has been segmented into commercial, industrial, infrastructure, and residential. As per services, the market segmentation covers managed services, hosted services, and others.
The regional segmentation of the global video surveillance as a service market segments the market into continent-based regional markets namely North America, Europe, Asia Pacific, and rest of the world (RoW). North America is the biggest regional market. The strongest country-specific market in this region is the United States of America (USA). Many key players in the market are based in the USA. The factors driving the growth of North American market include advancements in the Information Technologies (IT) industry, adoption of the security technology, rapid technological advancement, strict government regulations, and growing focus on critical infrastructure protection. Another important country-specific market in this region is Canada.
According to the report, the Asia Pacific region has been expected to be rise as the fastest growing market during the forecast period. The primary market drivers in this region include awareness about video surveillance, the growth of technology, government initiatives, increasing demand for smart cities, increasing need for the cloud service, and safety regulations. The most important country-specific markets in this region include China, India, Japan, and South Korea, followed by the rest of the Asia Pacific region.
Europe has been anticipated to grow steadily over the forecast period. In this region, the market is expected to grow due to factors including advancements in the technology sector, increased adoption of cloud-enabled video surveillance, and government policies. In Europe, the significant country-specific markets include France, Germany, Russia, and the United Kingdom (UK), followed by the rest of Europe.
Latest Industry News
Johnson Control has added a bullet model to the Illustra Flex 4K camera line. It has also updated the Smartvue platform to work with Tyco’s new Cloud-powered surveillance cameras. Flex Bullet camera is well-suited for exterior applications of retail boutiques, schools, small bank branches, and small to medium size offices. 1 OCT 2018
Iveda® worldwide enabler of cloud-based video surveillance and data management through the licensing of its Sentir® platform launched IvedaAI. IvedaAI is available to service providers such as alarm & monitoring companies’ security integrators, and telecoms for reselling to their customers. 25 SEP 2018
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• 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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Name: Abhishek Sawant
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Organization: Market Research Future
Release ID: 501601