MarketsandMarkets: Global Video Surveillance as a Service Market Worth $2,390.9 Million by 2017
DALLAS, September 24, 2012 /PRNewswire/ –
According to a new market research report, “Video Surveillance as a Service Market [By
Service (Hosted, Managed, Hybrid) & Components (Camera, Storage, Server, Video Analytics),
Application & Geography] – Global Forecast & Analysis (2012-2017)”, published by
MarketsandMarkets (http://www.marketsandmarkets.com), the VSaaS market, on the whole,
is expected to reach $2,390.9 million by 2017 at a CAGR of 31.5% from 2012 to 2017.
Browse 77 tables spread through 217 pages and in-depth TOC on “Video Surveillance as a
Service – By Service & Components, Application & Geography; Global Forecast & Analysis”.
Early buyers will receive 10% customization on reports.
The cloud computing and storage phenomenon is a revolutionary technology in the IT
space which is slowly but swiftly expanding its horizons into the slow-adopting video
surveillance space. Video surveillance and storage on the cloud has several advantages up
its sleeve as it reduces the amount of technical resources required to maintain a system
while streamlining the security operations in a centralized IT data center, thus making
them increasingly more efficient.
With the maturity of the VSaaS market in the years to come, the market could witness
the adoption of three salient models governing the whole business mode. The first model
caters to the physical security customers who would prefer storage and retrieval of the
video through cloud which would require no capital investment in the equipment. The second
model would let the usage of cloud services in the form of a private network
infrastructure which doesn’t necessitate the need for transferring the whole video into
the cloud. The third model postulates the usage of remote monitoring having servers and
storage on the back end, the entire video system infrastructure in-between, along with the
appliances and cameras on the front end.
The key factors driving the Video Surveillance as a Service (VSaaS) market include IT
cost containment by major corporates, emergence of data centers, need for centralized data
and application management, new features and technologies like IOT (Internet of Things)
and field of view (FOV). On the other side, bandwidth and corporate protocols, network
security and high infrastructure cost restrain the market growth of the Video Surveillance
as a Service (VSaaS) market. In terms of revenue generation, as of 2011, North America
held the highest share, i.e. 37.5%, followed by Europe with 34.82%.
Currently, Video Surveillance as a Service is used in commercial, institutional,
infrastructural, industrial and residential applications. Storage on EDGE, intelligent
business services and mobile device access are a few opportunities expected to open new
horizons for the development of the VSaaS market. Overall, North America and Europe are
the major contributors in the VSaaS application market, but a paradigm shift is expected
in the next five years when countries such as Japan, China, and India will have a major
chunk in the market share of the Video Surveillance as a Service market.
Amongst the various end-user applications under the Video Surveillance as a Service
market, the classification was done on the basis of various commercial, infrastructural,
industrial, institutional and residential applications. Amongst the commercial
applications, the office segment is observed to hold the highest share, i.e. 41.10%,
growing at a CAGR of 42%. In the infrastructure market (encapsulating highways, streets
and bridges, transportation, communications and stadiums), highways, streets and bridges
is expected to increase with the highest CAGR of 12.9% followed by communications segment
growing with a CAGR of 12.1%.
The global video surveillance as a service market is expected to grow from $474.0
million in 2011 to $2,390.9 million in 2017 at a CAGR of 31.5% from 2012 to 2017. The APAC
region is observed to grow at the highest rate. This is primarily due to the growth of
technology, increasing awareness about video surveillance and the ever-increasing need for
the cloud services as an option for efficient data and application management.
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