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IP Video Surveillance and VSaaS Market Expected to Reach $57.3 Billion by 2020 - Allied Market Research
The new market research report titled "IP
Video Surveillance and VSaaS Market (Technologies, Applications,
Services, Geography) - Industry Analysis, Trends, Share, Opportunities
and Forecast, 2012 - 2020", published today by Allied Market Research.
As per the market study, the global IP Video Surveillance and VSaaS
market is expected to reach $57.3 Billion by 2020. North America is
expected to experience highest share in IP Surveillance market by 2020.
Asia Pacific is expected to grow with highest CAGR 44.3% during
analysis period 2013-2020. North America would be the highest revenue
generating segment with a value of $18,741.6 million in 2020.
Get full access to the report at http://www.alliedmarketresearch.com/IP-video-surveillance-VSaaS-market
IP Surveillance market is undergoing an evolutionary phase in developing countries therefore promising significant potential. In case of developed countries, the analogue surveillance systems are being actively replaced by IP surveillance systems. Increasing awareness regarding the benefits of IP based surveillance system, favorable regulatory impositions and rising security concern are the key factors expected to catalyze the growth of IP Surveillance market during the forecast period. Penetration of internet protocol in surveillance has created a long lasting impact on the overall surveillance industry.
"IP Surveillance system is widely
accepted in developed markets and the adoption rate is expected to
increase in developing markets such as Asia-Pacific," states AMR
analyst Bryan Olson. Government and higher security segment is expected
to adopt IP surveillance system at a faster pace during the analysis
period, growing at a CAGR of 39.2% from 2013 to 2020. Banking and
financial institutes are expected to be the highest revenue generating
segment within the application market. IP surveillance hardware market
is expected to be the highest revenue-generating segment with estimated
revenues of $24.3 billion by 2020.
IP Surveillance system serves better flexibility and scalability features in comparison to the CCTV and conventional surveillance systems. Analog systems are expandable only to a specific limit: for instance, only limited number of cameras can be added to the existing infrastructure. However, IP surveillance system is creating better opportunity for end-users willing to focus on multi-level or multi-site business expansions. For this reason, organizations are expected to prefer IP surveillance systems over analog systems.
IP surveillance system is configured with advanced technology such as video motion detection, frame rate control, automatic brightness control, internal storage memory, and remote-zoom facility. From another perspective, rising security concern and technological advancements throughout the globe is acting as a strong driving force for the market. IP surveillance systems integrated with video analytics enable high level of intelligence, therefore enhancing security. Such systems are evidencing higher adoption rates in security sensitive segments such as airports, casinos and so on.
surveillance systems are directly connected to the internet and this
makes the system and associated sensitive data, vulnerable to hackers.
Technological innovations are expanding the application areas of the
surveillance systems anywhere from healthcare setups to public places.
This is perceived to cause major concerns with respect to privacy of
individuals especially in countries such as North America and Europe
where the privacy laws are comparatively stringent.
This report segments the IP surveillance market based on products, applications and geographies. This report encapsulates company profiles of ten leading companies dealing in IP Surveillance systems namely, Avigilon Corporation, Axis Communication AB, D-Link Corporation, Genetec, March Networks, Milestone Systems, Panasonic Corporation, Mobotix AG, GeoVision Inc. and Arecont Vision.
Along with the benefits of IP surveillance systems, the public needs to
be educated about the privacy issues related to monitoring. This can be
done by educating the public on issues such as general norms and
objectives of deploying surveillance systems, existing privacy laws,
penalties and method of reporting for any breach of surveillance and
privacy laws etc.
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