The Report Video Surveillance And VSaaS Market Analysis By Product (IP-Based, Analog), By
Component (Hardware, Software, Services), By Application (Residential, Retail,
Transportation, Government, Corporate, Hospitality, Industrial, Healthcare,
Stadiums) And Segment Forecasts To 2020
The Global video surveillance & VSaaS market is expected to reach USD 48.95 billion by 2020, according
to a new study by Grand View Research, Inc. Growing number of security concerns
on a global level coupled with increased investment in sophisticated
surveillance network development is expected to drive the market. Increased
demand for traffic surveillance and intrusion detection is also expected to
propel market growth over the next six years.
Technological
advancement has led to the development of improved surveillance cameras and
related devices. Declining IT costs and centralized data management are
expected to positively impact the video surveillance & VSaaS market.
Privacy concerns associated with public surveillance may restrain market
growth. Implementing big data analytics solutions is expected to provide viable
growth opportunities to companies operating in the market. Mobile video surveillance
allows real-time data viewing, which presents growth potential to the video
surveillance market.
Further key findings from the study suggest:
· IP-based systems are expected to gain
market share over the forecast period, which can be attributed to benefits such
as superior image resolution and integrated analytics engines. Demand for
analog systems is expected to remain robust in the price-sensitive consumer
segment.
· Hardware accounted for majority of the
market share in 2013, and is expected to remain the leading component segment
over the forecast period. Key hardware products include cameras, recorders and
storage devices; need for efficient security in public venues and sporting
events is expected to drive global surveillance cameras demand. The services
segment that includes hosted, managed, and hybrid services is expected to
witness high growth over the next six years.
· Transportation and retail are expected to
remain the major application segments over the forecast period. Need for
traffic regulation and controlling theft and vandalism activities in public
transport are expected to drive market growth. Video surveillance proves
effective for deterring crime and curbing business losses, which is expected to
fuel the retail segment.
· North America was the largest regional
market in 2013, and is characterized by the presence of several industry
participants. Asia Pacific is expected to gain market share over the forecast
period; this is mainly due to growing installation of surveillance devices in
China and India, along with increased infrastructure spending in the region.
· Key market players include Hikvision
Digital Technology, Axis Communications, Honeywell, Cisco, Bosch Security, etc.
Companies enter into strategic alliances and focus on product innovation in
order to gain market share. Focus on providing VSaaS solutions and investing in
emerging markets are other strategic initiatives.
Grand View Research has
segmented the global video surveillance & VSaaS market on the basis of
product, component, application and region:
Video Surveillance & VSaaS Product Outlook (USD
Billion, 2012 - 2020)
·
IP-Based
·
Analog
Video Surveillance & VSaaS Component Outlook (USD
Billion, 2012 - 2020)
·
Hardware
·
Software
·
Services
Video Surveillance & VSaaS Application Outlook (USD
Billion, 2012 - 2020)
·
Residential
·
Retail
·
Transportation
·
Government
·
Corporate
·
Hospitality
·
Industrial
·
Healthcare
·
Stadiums
·
Others
Video Surveillance & VSaaS Regional Outlook (USD
Billion, 2012 - 2020)
·
North America
·
Europe
·
Asia Pacific
·
RoW
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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