Global Video Surveillance As A Service Market worth $2,390.9 Million by 2017.
(PRWEB) September 28, 2012
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.
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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 would 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 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 & 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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