Global IP video surveillance and VSaaS market expected to reach $57.3 billion by 2020
Global sales for IP video surveillance and video surveillance as a service (VSaaS) are expected to reach $57.3 billion 2020 as a result of increasing adoption of advanced surveillance systems by the government sector and increasing use in developing markets in the Asia-Pacific region
Global sales for IP video surveillance and video surveillance as a service (VSaaS) are expected to reach $57.3 billion 2020 as a result of increasing adoption of advanced surveillance systems by the government sector and increasing use in developing markets in the Asia-Pacific region, according to a new market research report by Allied Market Research.
North America is expected to experience the highest share in the IP surveillance market by 2020 with a predicted value of $18,741.6 million in 2020, but the market in Asia Pacific is expected to grow with the highest compound annual growth rate (CAGR) (44.3%) during the period from 2013-2020. Growth in the market is expected to be aided by what the report calls an "evolutionary phase" in developing countries, including those in Asia Pacific.
Expected applications of IP surveillance in these countries include banking and financial institutes and government and high security, the latter of which is expected to grow at a CAGR of 39.2% from 2013 to 2020. In addition, the highest revenue-generating segment of the market is expected to be the IP surveillance hardware market, which has estimated revenues of $24.3 billion by 2020.
The report from Allied Market Research segments the IP surveillance market based on products (hardware, software, services), application (Including banking and financial, government, retail, healthcare, manufacturing, and casino/entertainment) and geographies, and focuses on the components that are driving the market. These include video analytics, video management, cloud-based storage, VsAAs. Key audiences are also identified in the report, and these include camera manufacturers, system integrators, IP surveillance providers, software developers, cloud-based solution providers, and academic and research institutes.
The report also identifies key players of the IP surveillance market: Avigilon Corporation, Axis Communication AB, D-Link Corporation, Genetec, March Networks, Milestone Systems, Panasonic Corporation, Mobotix AG, GeoVision Inc,. and Arecont Vision.
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