Global Video Surveillance as a Service (Vsaas) Market at a CAGR of 20.77% by 2027
KEY FINDINGS
The global video surveillance as a service market is estimated to be
worth $ xx million
in 2018. It is anticipated to grow at a
CAGR of 20.77% between 2019 and 2027 and generate a revenue of $ xx million by
2027. The market is supported by the
worldwide investments made by the various governments in surveillance equipment
and technologies against any risk of terrorism.
MARKET INSIGHTS
The factors like
declining prices of cameras, rise in the adoption
of security solutions by the commercial
sector and a shift from analog to IP
cameras are majorly driving the global video surveillance as a service market. The market can be segmented on
the basis of type, service, and
application. On the basis of type, the IP-Based video surveillance market is
anticipated to show an increase during the forecast period and generate $ xx
million by 2027. By service, the hosted service market held the largest market
share as this service is especially in demand for a number of smaller businesses. In
terms of application, the residential
application is showing promise as it is expected to grow during the forecast
period. However, it is the commercial application that is expected to dominate the global VSAAS market in coming years.
REGIONAL INSIGHTS
Several retailers are now expanding in North America
region, especially in the US as the market generated $ xx million in 2018.
However, the Asia-Pacific market is expected to hold a major share by the end
of the forecast period, especially due to the growing Indian and the Chinese
market in this region. The complex and restrictive nature of security product
certification in some of the European countries is proving it difficult for several retailers to flourish in this region. However,
various efforts are being made to expand the market in this region, and the market is predicted to grow during
the forecast period.
COMPETITIVE INSIGHTS
Axis Communications is
a major vendor in video surveillance
solutions which are focusing on refining the
partner network, develop and launch various innovative products and compete to
provide efficient products for the end users and continue to expand globally.
The other major players
in the market include Axis Communications Ab,
Envysion Inc., Cisco Systems, ADT Security Corporation, Bosch Security Systems
Genetec Inc., Indigo vision Ltd, Honeywell Security Group, Mobotix Ag, Neovsp
and Verint Systems Inc.,.
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