What is Video Surveillance As A Service (VSaaS) Market?
A digital video surveillance system is a form of surveillance system that helps in recording images and videos that can be compressed, stored, or sent over communication networks. It can be used in any environment. Security as well as surveillance are required for each and every organization worldwide. Governments, corporations, financial institutions, and health organizations are expected and required to have some level of security and surveillance in place. As a result, the demand for security applications such as video surveillance for monitoring and recording borders, ports, transportation infrastructure, corporate houses, educational institutions, public places, buildings, and others has increased dramatically. Video surveillance systems are used, among other things, for security on campus, in hospitals and patients, in stadiums, in airports, and in the police force. In addition, video surveillance cameras are used to capture significant amounts of information that require scaling of network bandwidth and storage capacity.
The market study is being classified by Type (Hosted, Managed and Hybrid), by Application (Individual Use and Commercial Use) and major geographies with country level break-up.
Axis Communications (Sweden), ADT LLC dba ADT Security Services (United States), Bosch Security Systems (United States), Brivo Systems (United States), Cisco Systems (United States), Honeywell International (United States), IndigoVision Group (United Kingdom), Verint Systems (United States), MIRASYS (Finland) and Smartvue (United States) are some of the key players profiled in the study.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Video Surveillance As A Service (VSaaS) market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Video Surveillance As A Service (VSaaS) market by Type, Application and Region.
On the basis of geography, the market of Video Surveillance As A Service (VSaaS) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Low Initial Investment Required To Avail VsaaS Services
- Increasing Adoption of VSaaS in Retail Chains, Residential Apartments, Small Businesses, and Healthcare Organizations Etc.
- Increasing Demand for Real-Time and Remote Access for Video Surveillance Data
- Increase in Trends toward Development of Smart Cities
Market Trend
- The Demand for VSaaS in the Commercial Vertical Is Increasing To Enhance the Security
- The Adoption of VSaaS in Financial Institutions and Banks to Monitor Customers and Staff Activities
- Flexible Scalability Offered By VSaaS
Restraints
- High Investment Cost and Lack of Professional Expertise in Handling IP Cameras
Opportunities
- Government Initiatives to Increase Public Safety
- Increasing Infrastructural Developments in the Region
- Increased Adoption of Consumer Devices Such As Mobiles, Tablets, and Laptops
Challenges
- Privacy Concerns Regarding Data Usages
Key Target Audience
Providers of Video Surveillance As A Service (VSaaS), End-Users, Potential Investors, Market Research Firms and Others