Video Surveillance & VSaaS Market Revenue is expected to Reach $48.95 Billion by 2020

28/lug/2020 08:12:02 Market Research News Contatta l'autore

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Video surveillance has become extremely crucial in the world today, as it helps in strengthening the security system of an organization. Video surveillance systems comprise of one or more video cameras on a network that are capable of capturing video and audio information at their place of installation. This information is live-monitored or transmitted to a central location for storage and recording. The central location may be a common household that has installed the system outside their home, or a control room in case of a housing society or large organizations.

The rising security concerns on a global level, particularly for prestigious government and private organizations, has necessitated the presence of video surveillance systems. These places, in the absence of such systems, invite the risk of entry of unauthorized people, terrorists, intruders or thieves. This is also true in case of domestic households, which witness quite a large number of incidences of thefts and stabbings. According to FBI’s 2018 data, the United States saw 368.9 offenses per 100,000 inhabitants for violent crimes, while property crime rates stood at 2199.5 offenses per 100,000 inhabitants. The presence of surveillance systems can help in the prevention of these scenarios.

VSaaS, short for Video Surveillance as a System, refers to hosted cloud-based surveillance, which includes video recording, storage, remote viewing, management alerts, cyber security and more. The high bandwidth availability and advanced in cloud technology have created huge opportunities for further development of the VSaaS infrastructure. According to Right Scale’s annual State of the Cloud Report for the year 2019, 91% businesses make use of public cloud setup, while 72% make use of a private one. This large-scale adoption of cloud solutions is expected to continue in the coming years, and video surveillance will account for a significant part of the setup.

Request a free sample copy or view report summary: https://www.grandviewresearch.com/industry-analysis/video-surveillance-industry

Video surveillance helps in improving system health management as well as video content analysis, while also enabling easy retrieval of video information, which is expected to drive the market in the near future. The developing regions of the world, particularly in Asia Pacific region, are expected to witness a continued increase in IP surveillance, which again is an enabling factor for growth. The coming years are expected to witness a steady growth of the Building Internet of Things (BIoT) concept, which is expected to increase demand for video surveillance and VSaaS.

Based on product, the video surveillance and VSaaS market has been segmented into IP based and analog surveillance. The IP based systems are expected to account for a significant share in the market, as they offer benefits such as superior image resolution and integrated analytics engines. According to SDM’s State of the Market: Video Surveillance 2018 report, where they asked dealers and integrators about their level of spending on IP-network-based video cameras in 2018, 64% said that it would be increased as compared to prior years. This indicates that the market for this segment has continuously advanced on a global scale.

In terms of application, the market has been segmented into residential, retail, transportation, government, corporate, hospitality, industrial and healthcare, among others. The retail and transportation segments are anticipated to account for a substantial market share, on account of the growing demand for this service from these segments. Video surveillance is the major component of traffic monitoring systems, helping to monitor public transport services like buses, trains and cabs, as well as vehicle traffic detection, incidence detection and pedestrian monitoring.

In terms of region, North America is a significant market contributor, on account of the technological advancements in the region, as well as presence of key market players. Asia Pacific is anticipated to show substantial growth in the near future, on account of increased infrastructural spending in countries like India and China, along with the growth of IT establishments in the region. Another factor aiding market growth is the ongoing effort to replace analog cameras with IP based systems.

Recent Developments

In April 2020, Genetec and Insight teamed up to provide end-to-end delivery and management of a unified data platform across city departments to drive their digital transformation. Insight allows for a faster deployment of Genetec Citigraf™ and Genetec Clearance™, with the latter being a digital evidence management system that facilitates collaboration between agencies, corporate security departments and the public.

In November 2019, Panasonic i-PRO Sensing Solutions Co., Ltd. announced the integration of Agent Vi’s (Agent Video Intelligence) savVi™ video analytics solution on Panasonic i-PRO Sensing Solutions’ high end i-PRO EXTREME cameras. This setup has enabled minimization of hardware requirements and ease of deployment. savVi’s Vi-Agent component allows for pre-processing on the camera, which reduces server-side processing and enables support for hundreds of cameras per server.

 

In August 2019, Pelco introduced the Sarix Professional (Pro) Series 3 Fixed IP cameras, with features such as clear details in low light conditions, wide and detailed coverage with resolutions up to 5MP at 30 FPS, enhanced detection and faster response ability through bi-directional audio, and flexible recording and viewing of video with three streams, among others. The cameras are available in minidome, bullet, box, and wedge configurations.

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