Global Video Surveillance as a Service Market 2017-2021
Overview of the global VSaaS market
The global VSaaS market is anticipated to grow rapidly and will post a CAGR of more than 28% during the forecast period. The increasing adoption of internet protocol (IP) cameras will drive the growth prospects for the global VSaaS market until the end of 2021. Some of the major factors responsible for the growing number of adoption of IP cameras by enterprises is the cost, scalability, image clarity, built-in security, integration, easy installation, and high resolution. The commercial sector highly prefers this product as its price is much lower than the analog cameras and its high-quality sensor module is easily adaptable to the changing needs of an organization. Additionally, features such as its ability to avoid problems related to interlacing, availability of an inbuilt facility for image encryption and multi-level user access control, and avoidance of third-party image manipulation will spur its adoption among end users.
The emergence of advanced technologies will drive the growth prospects for the global VSaaS market for the next four years. One of the major factors responsible for the growing degree of innovations in the market is the presence of an intensely competitive environment in the market. Also, the demand for the product is continually increasing because they prove to be highly efficient and cost-effective over widespread security applications.
Competitive landscape and key vendors
The global VSaaS market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. The vendor’s opportunity widens due to the increasing number of criminal activities in various sectors such as the retail, banking, financial services, and insurance, government, and healthcare. These vendors increasingly provide VSaaS devices for enterprises, government organizations, and SMEs. Furthermore, it has been observed that a large number of new players are entering the market to offer products at lower prices to expand their customer base.
Key vendors in this market are -
- Axis Communications
- Bosch Security Systems
- Cisco Systems
- Hikvision Digital Technology
- Honeywell Security
Other prominent vendors in the market include DVtel, iDefigo, Genetec, Moonblink Communications, Sureview Systems, Salient Systems, Tyco, and VSaaS.
Segmentation by end-user and analysis of the VSaaS market
The commercial sector accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. One of the primary reasons for the market segment’s growth is the presence of video surveillance projects within the commercial sector, which is likely to adopt more VSaaS in the coming years. Also, of all the establishments in the commercial sector, the retail establishments are predicted to be the key contributors in the global VSaaS market during the forecasted period.
Segmentation by geography and analysis of the VSaaS market
In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market in the forthcoming years. One of the major factors responsible for the market’s growth in the region is the high adoption of cloud video surveillance solutions. However, it has been estimated that the market share of the Americas will see a decline in the future due to the market’s saturation.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global video surveillance as a service (VSaaS) market?
- What are the key market trends impacting the growth of the global video surveillance as a service (VSaaS) market?
- What are the challenges to market growth?
- Who are the key vendors in the global video surveillance as a service (VSaaS) market?
- What are the market opportunities and threats faced by the vendors in the global video surveillance as a service (VSaaS) market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global video surveillance as a service (VSaaS) market?
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