DUBLIN, October 18, 2022 /PRNewswire/ — The “video surveillance market by offering (hardware (camera, storage device, monitor), software (video analytics, VMS), service (VSaaS)), system (IP, analog, hybrid), vertical and geographic (North America, EuropeAPAC, RoW) – The Global Forecast to 2027 report has been added to from ResearchAndMarkets.com offer.
The video surveillance market is expected to grow from $48.7 billion in 2022 and should reach $76.4 billion by 2027; it is expected to grow at a CAGR of 9.4% during the forecast period. The IoT has simplified the sending and receiving of data over the Internet, making it easier to use video surveillance in smart cities. The integration of IoT, big data and video surveillance should meet better operational and security needs in public spaces.
The video surveillance services market has the highest CAGR during the forecast period.
The modern VMS has integration capabilities for various software applications, such as people counting, facial recognition, and license plate recognition. Real-time video analytics can provide important insights into events or activities across multiple verticals. Various cloud features cater to different requirements of end users, thus driving the high growth of the video surveillance services market, especially for VSaaS. In the cloud implementation, VMS solutions are accessible via the Internet and hosted by third-party VMS providers. Video recording, control and management are done by the cloud. VSaaS is an attractive choice as a service because it eliminates the need for storage devices, such as network video recorders (NVRs), digital video recorders (DVRs), or hybrid recorders. It is a remote approach to CCTV systems, as opposed to an onsite video security system.
The dome camera market will have the highest share in 2021.
Dome security cameras are easily recognized by their circular domed housing. Dome surveillance cameras are very versatile and can be used both indoors and outdoors, providing unparalleled coverage for almost any use case. The number of lenses that can be attached to these cameras is limited depending on the size of the dome. However, due to their low cost and relatively small size, they are more common than other types of cameras.
The hybrid VSaaS market is expected to grow at the highest CAGR during the forecast period.
In hybrid VSaaS, recorded data is stored at the customer and at the service provider, providing greater redundancy. As hybrid services ensure more data security, remote access, flexibility in adding devices, flexible payment structure and scalability of data storage, they are adopted for commercial applications including businesses, retail stores and financial institutions. The demand for both on-premises and cloud-based data storage is driving the high growth of the hybrid VSaaS market.
The retail stores and shopping malls segment is expected to grow at the highest CAGR in the commercial video surveillance market during the forecast period.
The retail store and shopping mall video surveillance market is expected to grow at the highest CAGR during the forecast period. The retail industry implements surveillance systems to prevent theft, robbery and organized crime in stores. Large retail stores covering large areas require more automated monitoring, as physical monitoring has certain limitations. This further highlights the importance of CCTV systems in retail stores.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, in-depth primary interviews were conducted with key industry experts in the Video Surveillance market.
- Low investment cost
- Growing demand for real-time monitoring data
- Flexible scalability offered by VSaaS
- Privacy and security concerns regarding data usage
- VSaaS integration with access control and alarm systems
- Increase in the use of smart devices
- Rise of Big Data, IoT and Smart Cities
- Increase in demand in vertical business sector due to COVID-19
- Lack of awareness of the benefits of VSaaS
Main topics covered:
2 Research methodology
3 Executive Summary
4 premium previews
5 Market Overview
6 VSaaS Market, By Type
7 VSaaS Market, by Vertical
8 Regional Analysis
9 Competitive Landscape
10 company profiles
- 3Deye Inc.
- Arcules, Inc.
- Arlo Technologies, Inc.
- Avigilon Corporation, a Motorola solutions company
- Ab Axis Communications
- Bosch Sicherheitssysteme GmbH
- Comcast Company
- Duranc Inc.
- Eagle Eye Networks Inc.
- Genetec Inc.
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Honeywell International Inc.
- Johnson Controls
- Mobotix AG
- Morpheus Sa
- Pacific checks
- Securitas AB
- Solink Corp.
- Verkada inc.
- Vivint Smart Home, Inc.
For more information on this report visit https://www.researchandmarkets.com/r/hvls24
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