The video surveillance market research study offers a wide perspective on the analysis of the industry. The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast and the predictive models.
The increase in security concerns and the growing need for highly efficient, time-saving surveillance systems at reasonable costs, is one of the matters to be looked upon in the current scenario. The attempt to deliver such solutions with the growing application across many verticals is considered as one of the major drivers for the video surveillance industry. With the increasing security concerns, along with rising initiatives by the government to spend on surging digitization and smart cities, the number of cameras being used for video surveillance is also increasing. The governments of various nations are deploying video cameras on a massive scale in order to create stronger security systems for their respective countries. These video surveillance systems provide various benefits, such as asset and theft protection, remote monitoring services, gathering evidence to help legal authorities to arrive at the right decisions, increased workplace productivity, and traffic management via automatic license plate recognition. Some private sectors, including banking and finance, hospitals, research labs, sports facilities, corporate headquarters, and auditoriums also require cutting-edge video surveillance technology with improved security features whereas commercial and residential sectors may require cost-effective and efficient cameras solutions, such as zoom-specific cameras and low-light cameras.
Video analytics has the ability to reduce the huge amount of data available in the video, thus making it more controllable. The benefits of video analytics include reduced load on network and storage demand, easy and fast retrieval of stored video, and productive use of manpower, among others. Moreover, in case of any abnormal activity, the system raises an alarm to alert the concerned officials. Additionally, with the advantage of analyzing live as well as recorded data, the need for reviewing the recorded data by a human operator, which is a quite expensive resource, has been eliminated. These features, along with the numerous technological advancements, such as facial recognition and automatic license plate recognition, make the video surveillance cameras appropriate for application in different verticals, especially in the current scenario. Therefore, with the help of VSaaS, and video analytics, the time and monetary benefits can be availed by the installer. Bosch Security Systems and Honeywell are some of the major market players providing video analytics-based solutions. Below are some instances which highlight the demand for VCA and VSaaS.
The cloud-based analytics offers intelligent video services without the need for additional hardware or licensing fees. The data coming from different locations through a single web-based interface is analyzed at one place. Since analog cameras work with digital video recorder (DVR) storage technology, they cannot highlight any event. In case of a crime detection event, it might take a longer period of time to play or analyze the full video. However, an IP system with video analytics can highlight or flag events with functions such as motion detection, camera tampering, and a range of other events.
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With the increasing adoption of video surveillance systems for various applications such as infrastructure security, business intelligence, and preserving law and order, the dependence on these surveillance systems has gradually increased. Their performance not only depends on efficiency but is also driven by promptness, accuracy, and embedded processors employed. These processors basically provide features such as securing intellectual property, lowering power dissipation, minimizing cost, and reducing the overall development time. Therefore, the developers are readily grabbing the opportunity of introducing such processors. The existing options for processors in the video surveillance systems are digital still camera (DSC) processors, application-specific integrated circuits (ASIC), digital signal processors (DSP), and field-programmable gate arrays (FPGA).
The rise in public security concerns is expected to create the need for the deployment of more surveillance systems. Further, governments of various countries are deploying video cameras on a large scale to create a stronger security system for their respective countries. With a greater number of cameras being installed globally, there arises an impending need for more people to monitor those cameras. It is extremely difficult and expensive to employ and manage a workforce big enough to monitor those many cameras. However, this issue can be solved by utilizing video content analytics (VCA), video surveillance as a service (VSaaS), and real-time analytics.
According to the new market research report "Video Surveillance as a Service Market by Type (Hosted, Managed, Hybrid), Vertical (Commercial, Infrastructure, Military & Defense, Residential, Institutional, Industrial), and Geography - Global Forecast to 2022", The Video Surveillance as a Service Market (VSaaS) market is expected to be valued at USD 5.93 Billion by 2022, at a CAGR of 22.0% between 2017 and 2022The factors driving the growth of the market include increasing demand for real-time and remote access for video surveillance data, low initial investment required to avail VSaaS services, and flexible scalability offered by VSaaS.
Speak to our analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=773 Hybrid VSaaS market expected to witness the highest growth rate during the forecast period Hybrid VSaaS offers enhanced security for surveillance data by storing at customers’ end as well as in the cloud at the service provider’s end.
Apart from data security, hybrid VsaaS offers real-time data access, remote surveillance, flexible scalability in data storage, ease of adding new cameras, and so on, which helps hybrid VSaaS to become more common among end users such as banks and financial institutes, retail stores, enterprises, among others, who demand more data security.
Moreover, presence of several system providers and availability of low cost systems, and increasing adoption of consumer devices such as mobiles, tablets, and laptops are some of the important parameters which spur the growth of the VSaaS market in APAC.Major players in the Video Surveillance as a Service market include Axis Communications AB (Sweden), Honeywell International Inc. (US), Genetec Inc. (Canada), Brivo (US), Cameramanager (Netherlands), ADT Security Services (US), Cloudastructure Inc. (US), Duranc (US), Ivideon (US), NeoVSP (Israel), Nest Labs, Inc. (US), Pacific Controls (UAE), and Smartvue Corporation (US).
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