On account of increase in adoption of advanced surveillance by the government sector, manufacturers have realized the need for optimum IP surveillance systems. There are many advantages that an IP camera CCTV system offers over an analog format. IP security cameras send their signal over a network, allowing greater information transfer than an analog signal sent to a DVR, which act as a major driver for the IP video surveillance and VSaaS market trends. Network cameras can be wireless and work through a network. They are used in big departmental stores, food chains, malls, factory, work shop, and many other public places to keep a check of the ongoing activities, which assist in the growth of the IP video surveillance and VSaaS market globally.
China uses next-generation speed cameras to catch speedy drivers. These roadside cameras can catch unruly drivers. The camera network is enabled with artificial intelligence, which can differentiate by spotting minute differences between the cars. The camera system facilitated with artificial intelligence is a part of the ‘Sky Net’ operation that is China’s anti-corruption program mainly aimed to track down fugitives. It is estimated that there are 170 million surveillance cameras in China. By 2020, the country expects to possess 570 million surveillance cameras to help develop a database that can recognize any citizen within three seconds, which fuels the IP video surveillance and VSaaS market growth in the country.
Rise in need of safety in high risk areas, growth in transition from analog surveillance to IP cameras, and integration of Internet of things have fueled the growth of the IP video surveillance and VSaaS market size. However, factors such as high investment cost in data storage technologies and lack of professional expertise in handling IP cameras have hampered the market growth. Furthermore, increase in trends toward development of smart cities is expected to offer lucrative opportunities for market expansion.
The global IP video surveillance and VSaaS market size is analyzed by product type, application, and region. Based on product type, the market is analyzed across hardware, software, cloud-based solutions, and services. The hardware segment is further sub-segmented into impact camera, monitor, and storage. In addition, the software segment is bifurcated into video analytics software and video management system. The cloud-based solution is further bifurcated into cloud storage by product software and cloud storage by deployment. By services, the market is categorized into VSaaS, hosted VSaaS, managed VSaaS, hybrid VSaaS, and integrated services IP surveillance. On the basis of application, the market is divided into banking and financial sectors, retail, government & higher security, manufacturing & corporate, residential, entertainment, healthcare, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries.
The key global IP video surveillance and VSaaS market leaders profiled in the 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 penetration.
TOP IMPACTING FACTORS
The factors such as rise in need of safety in high risk areas, growth in transition from analog surveillance to IP cameras, integration of internet of things in surveillance system, high investment cost, lack of professional expertise in handling IP cameras, and increase in trend of development of smart cities are expected to significantly affect the growth of the global IP video surveillance and VSaaS market. These factors are anticipated to either drive or hamper the market growth.
Rise in need of safety in high risk areas
Public safety is of top priority in the world. Public safety agencies are investing in numerous new technologies to ensure efficiency. This includes smart applications to securely connect radio networks to users carrying smartphones and other devices, video surveillance devices that can be worn to increase safety and accountability for officers and citizens as well as purpose-built mobile applications to improve the management of daily workflows. With the surge in crime rates, antisocial behavior, and terrorist attacks, the government has introduced new technologies and strategies to ensure public safety and security. It has become necessary to improve the system and responses for catastrophic attacks and to find safe, cost-effective, and feasible solutions. This feature adds traction to the market growth and offers lucrative opportunities for the IP video surveillance and VSaaS market share globally.
Growth in transition from analog surveillance to IP cameras
Internet Protocol (IP) Surveillance is a digitalized and networked version of CCTV system, and is rapidly becoming the most flexible and future-proof option for security and surveillance systems. The IP Surveillance system is made up of two components, IP-based camera that records video content using a Network Video Recorder (NVR) and video surveillance platform that captures and distributes video content through the network. IP cameras are preferred for large installation sites that already have a high bandwidth network installed. IP surveillance cameras offer various benefits over analog surveillance such as real-time surveillance, remote accessibility, digital zooming capability, lower operational and infrastructure cost, greater integration potential, ease of data distribution, easy installation, and adjustable frame rates among others, which help in the expansion of the IP video surveillance and VSaaS market globally.
Emerging trends toward development of smart cities
There is an emerging trend of urbanization across the globe. In India and in various parts of Asia-Pacific, the adoption of Internet of Things (IoT) forms the basis of smart city development. Smart cities rely on the integrated use of Big Data, IoT, and other technologies for creating actionable insights and better decision-making. From smart meters to smart homes, the value that IoT brings is in the quality of information it captures and the utility of service that it offers. Video-based smart city applications include traffic control and traffic monitoring. Surveillance camera can detect the movement of vehicles and humans on the roads and provide data related to congested areas, peak time traffic hours, foot traffic count, vehicular count, and can even manipulate traffic control systems, which drives the growth of the video surveillance market. This analytical data forms the basis of smart city initiatives. With increase in innovations among CCTV manufacturers, the technology can be used for other purposes. Citizens will be able to track parking spots in their area and allow traffic authorities to direct traffic through the most efficient routes. These features of the video surveillance system in smart cities development offer lucrative opportunities for the growth of the IP video surveillance & VSaaS industry.
Key Benefits for IP Video Surveillance And Vsaas Market:
- This study includes the analytical depiction of the global IP video surveillance and VSaaS market forecast along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information regarding the key drivers, restraints, and opportunities.
- The current global IP video surveillance and VSaaS market analysis is quantitatively analyzed from 2017 to 2025 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.