IP Video Surveillance & VSaaS Market to Grow at 11.1% CAGR by 2030
The elevation in number of threats, burglaries, theft, and vandalism along with inadequate security personals has led to the growth of IP video surveillance and VSaaS market globally.
The IP video surveillance and VSaaS Market was valued at $22.56 billion in 2019, and is projected to reach $71.81 billion by 2030, registering a CAGR of 11.1% from 2020 to 2030 according to a new research report by Next Move Strategy Consulting.
IP video surveillance is done to capture videos of a particular site and then share them over communication networks by compressing its size. IP security cameras come with wide range of features such as HD video recording, storage, auto adjustment to different light levels, and even focusing the camera on a particular object remotely.
Increased demand of developed public infrastructure along with rising security concerns are expected to drive the growth of IP video surveillance and VSaaS market. However, some factors like privacy issues, high cost of installation and vulnerability are some restraints limiting the growth of IP Video Surveillance and VSaaS Market. On the contrary, with the advancements of technology in the IP surveillance and VSaaS like wireless surveillance, reduced maintenance cost, 4k video quality and the introduction of 5G network allowing faster sharing of videos will create massive opportunities in the IP surveillance and VSaaS market.
The global IP video surveillance and VSaaS market size is segmented on the basis of product type, application, and geography. By product type, the market is segmented by hardware, software, cloud-based solutions, and services. The hardware is further sub-divided into impact camera, monitor, and storage. Also, the software segment is bifurcated into video analytics software and video management system. The cloud-based solution is bifurcated into cloud storage by product software and cloud storage by deployment. On the basis of services, the market is categorized into VSaaS, hosted VSaaS, managed VSaaS, hybrid VSaaS, and integrated services IP surveillance. By application, the market is divided into banking and financial sectors, retail, government & higher security, manufacturing & corporate, residential, entertainment, healthcare, and others. Geographically, IP video surveillance and VSaaS market is spread across North America, Europe, Asia-Pacific, and RoW.
North America holds the lion share in the global IP video surveillance and VSaaS market due to high security concerns, political unrest, significant budget pertaining to public infrastructure, and transition from analogue surveillance to IP cameras that leads to the growth of IP video surveillance and VSaaS market in this region.
However, Asia pacific is also expected to witness rapid growth owing to the increase in criminal activities and threat levels. Moreover, increasing number of smart cities, wide application, and various other advantages are expected to further enhance the growth of IP video surveillance and VSaaS market in this region.
The key players profiled in the IP video surveillance and VSaaS market report include HKVISION, Ltd., Bosch Security System, Honeywell Security Group, Dahua Technology, D-Link Corporation, Panasonic, Avigilon, Axis Communication, Infinova, and Mobotix AG. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their market share.
Browse key industry insights from the report,” IP Video Surveillance and VSaaS Market by Product Type (Hardware, Software, Cloud Based Solutions, and Services), and Application (Banking & Financial Sector, Retail, Government & Higher Security, Manufacturing & Corporate, Residential, Entertainment, Healthcare and Others): Global Opportunity Analysis and Industry Forecast, 2020–2030.” in detail along with the table of contents:
Key Insights from the IP Video Surveillance and VSaaS Market Report:
- Current emerging trends and opportunities are extensively analysed in the IP video surveillance and VSaaS market report.
- The forecast of IP video surveillance and VSaaS market comes along with additional information associated with opportunities, restrains and key drivers in the market.
The report IP Video Surveillance and VSaaS market – segmented by product type, application, and geography.
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