Video Surveillance and VSaaS (By Type - Analog and IP-based; By Components - Hardware, Software, and VSaaS; By End-use Industry - Residential, Retail, Business Organizations, Transportation, Government Buildings, Hospitality, Industrial, Stadiums, Healthcare Organizations and Others) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 05/06/2016 -- Transparency Market Research has released a new market report entitled "Video Surveillance and VSaaS Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024." According to this report, the global video surveillance and VSaaS market revenue stood at US$21.19 bn in 2015 and is expected to reach US$88.25 bn by 2024, at a CAGR of 17.0% from 2016 to 2024.
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Video surveillance means the monitoring of activity or changes in environment from a distance with the help of electronic equipment such as CCTV cameras on a real-time basis. The data retrieved through video surveillance can be also be stored for later use. Cloud-based video surveillance solutions are increasingly being adopted by end-users globally. These solutions offers various benefits, such as cost-efficiency, access to value-added services, a wide array of products for hosted video, easy conversion of analog systems to IP, and increased system performance. Increasing security concerns at the global level, continuous infrastructure investments, HD and megapixel camera advancements, and the advent of do-it-yourself (DIY) solutions are the key factors that drive the market for video surveillance market globally. Technological advancements in video analytics and high-resolution perfect imaging, the need for centralized data and application, decreasing IT costs, and growing interest in smart cities act as major drivers of the growth of global VSaaS market.
The video surveillance and VSaaS market is segmented on the basis of types: analog and IP-based. IP-based video surveillance systems comprise the largest segment, accounting for a market share of approximately 55%. Based on components, the video surveillance and VSaaS market is segmented into hardware, software, and VSaaS. Video surveillance hardware segment acquired the majority share among other components in 2015. The VSaaS segment is anticipated to grow the fastest, with an expected CAGR of 29.7% during the forecast period from 2016 to 2024, as it eliminates the need for high-storage-capacity servers and offers cost effectiveness. The VSaaS services market is further segmented into hosted, managed, and hybrid services.
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The transportation end-user segment held a major share of the video surveillance and VSaaS market in 2015. Public transport media are prone to theft, vandalism, and other such activities which need to be controlled. The use of video surveillance in traffic monitoring in transportation sector is increasing in a bid to curb increasing crime across the globe.
During the coming years, the video surveillance and VSaaS market is expected to grow significantly in Asia Pacific due to its fast technological development, growing economy, large number of construction projects, and population growth.
The global market for video surveillance and VSaaS has been segmented as follows:
Video Surveillance and VSaaS Market: By Type
Analog Video Surveillance and VSaaS
IP-based Video Surveillance and VSaaS
Video Surveillance and VSaaS Market: By Component
Video Surveillance Hardware
Recorders and Storage
Video Surveillance Software
Video Management Software (VMS)
Video Surveillance as a Services (VSaaS)
Video Surveillance and VSaaS Market: By End-use Industry
Others (Educational Institutions and Religious Buildings)
Video Surveillance and VSaaS Market: By Region
Rest of North America
Rest of Europe
Rest of APAC
Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
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