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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