According
to the new market research report "Video Surveillance as a Service Market by Type
(Hosted, Managed, Hybrid), Vertical (Commercial, Infrastructure, Military &
Defense, Residential, Institutional, Industrial), and Geography - Global
Forecast to 2022", The Video
Surveillance as a Service Market (VSaaS) market is expected to be valued at USD
5.93 Billion by 2022, at a CAGR of 22.0% between 2017 and 2022.
The
factors driving the growth of the market include increasing demand for
real-time and remote access for video surveillance data, low initial investment
required to avail VSaaS services, and flexible scalability offered by VSaaS.
Hybrid VSaaS market expected to witness
the highest growth rate during the forecast period
Hybrid
VSaaS offers enhanced security for surveillance data by storing at customers’
end as well as in the cloud at the service provider’s end. Apart from data
security, hybrid VsaaS offers real-time data access, remote surveillance,
flexible scalability in data storage, ease of adding new cameras, and so on,
which helps hybrid VSaaS to become more common among end users such as banks
and financial institutes, retail stores, enterprises, among others, who demand
more data security.
Commercial vertical is expected to hold
a major share of the Video Surveillance as a Service market during the forecast
period
End
users such as enterprises, retail stores, warehouses, banks and financial
institutes, and so on use VSaaS for enhancing security, monitoring staff,
detecting misconducts, and so on. Increasing retail stores, manufacturing
sites, business offices creates significant opportunities for VSaaS providers.
Moreover, using VSaaS for remote monitoring of businesses having multiple sites
at different locations such as retail chains, manufacturing sites, among
others, is easy which makes VSaaS popular in small businesses.
APAC is expected to dominate the Video
Surveillance as a Service market between 2017 and 2022
Increasing
retail stores, infrastructural projects, manufacturing sites, increasing terror
threats in educational, government and religious buildings, and governments’
initiatives to enhance public safety are some of the factors driving the VSaaS
market in the APAC region. Moreover, presence of several system providers and
availability of low cost systems, and increasing adoption of consumer devices
such as mobiles, tablets, and laptops are some of the important parameters
which spur the growth of the VSaaS market in APAC.
Major
players in the Video Surveillance as a Service market include Axis
Communications AB (Sweden), Honeywell International Inc. (US), Genetec Inc.
(Canada), Brivo (US), Cameramanager (Netherlands), ADT Security Services (US),
Cloudastructure Inc. (US), Duranc (US), Ivideon (US), NeoVSP (Israel), Nest
Labs, Inc. (US), Pacific Controls (UAE), and Smartvue Corporation (US).
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