BusinessScienceTechnologyWorld

Video Surveillance and VSaaS Market 2020 Analysis, Demand Growth, Current Trends

Novel technologies, including artificial intelligence are playing an imperative role in transforming a range of industrial sectors. Despite being at a relatively nascent stage, the adoption of artificial intelligence for video surveillance and VSaaS (video surveillance as a service) market is witnessing a notable growth. The video surveillance and VSaaS market is predominantly driven by technological innovations and the trend is set to continue in the coming years. Advancements made by machine learning, which is largely used for video analytics is gradually influencing the uptake of video surveillance systems and VSaaS. Video surveillance systems have evolved at a significant pace over the past few years – developing from closed-circuit transmission videos (CCTV) to cutting-edge centrally managed IP cameras.

Within the video surveillance and VSaaS market, the demand for cloud-based services from various end users is witnessing a paramount growth. The growth can be attributed to various benefits of cloud-based systems, including swifter response times and remote monitoring, among others. The adoption of cloud-based services is a trend that is projected to continue during the forecast period (2019-2027). Stakeholders operating in the current video surveillance and VSaaS market are confident that additional research and technological advancements will bring about significant improvements in the video surveillance and VSaaS market.

video surveillance and vsaaS market infographic

Request a sample to get extensive insights into the Video Surveillance and VSaaS Market

IP-based Video Surveillance and VSaaS to Replace Traditional Systems

In the past few years, the demand for video surveillance systems has gained immense popularity, owing to mounting safety and security concern demands. At present, video surveillance systems are extensively used across various settings, including government buildings, retail shops, shopping malls, public places, residential societies, commercial buildings, etc. Manually operated surveillance systems paved the way for automated systems with higher reliability and efficiencies.

In the current scenario, traditional video surveillance systems are gradually being replaced by technologically advanced IP-based video surveillance and VSaaS. Within the video surveillance and VSaaS market, IP-based video surveillance and VSaaS is projected to remain the most prominent type of video surveillance system and is estimated to reach a value of ~US$ 104 Bn and hold a market share of ~80% by 2027.

The growing adoption of IP-based video surveillance systems is predominantly driven by enhanced processing capabilities and compression algorithms. Furthermore, advanced surveillance systems are increasingly being used to identify abnormal behavior and patterns in different videos by leveraging novel technologies, including artificial intelligence, computer vision, and pattern recognition. Traditional analog video surveillance systems are losing their novelty, as reliable and superior IP-based video surveillance systems are entering the video surveillance systems and VSaaS market.

The demand for IP-based video surveillance systems is expected to grow due to significant innovations in security, network offerings, and most importantly dwindling costs of specialized products. Moreover, innovations are also playing a key role in minimizing the costs associated with the deployment of surveillance infrastructure. For instance, the advent of 360o video capturing technology has enabled users to replace around three to four Pan-tilt zoom (PTZ) cameras. The newly developed 360o video capturing technology is expected to be one of the most groundbreaking inventions within the video surveillance and VSaaS market.

To understand how our report can bring difference to your business strategy, Ask for a brochure

Companies Focus on Launching New VSaaS Solutions

Rapid advancements in technology, along with the introduction of artificial intelligence into the video surveillance and VSaaS market landscape has enabled stakeholders to develop cutting-edge VSaaS solutions. Market participants are expected to introduce new and innovative video surveillance solutions in the near future to gain a competitive edge.

For instance, in October 2019, Zain, an established digital service provider announced the launch of a newly developed VSaaS solution for customers at the enterprise level. The company revealed that the VSaaS platform would include a broad range of services on the company’s cloud, and simultaneously provide customers the convenience of accessing and managing the video recordings from any location at any point in time.

Similarly, in September 2019, Etisalat launched the UAE’s first cloud-based video surveillance system. The video surveillance and VSaaS solution was primarily developed to assist small and medium businesses to address their regulatory and security compliance requirements. Video surveillance and VSaaS solution providers are leveraging the advantages of video and video analytics to assist their clients to increase their profitability, business productivity, and security.

Read Our Latest Press Release:

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad-hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

Contact

Transparency Market Research State Tower,

90 State Street,

Suite 700,

Albany NY – 12207

United States

USA – Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: https://www.transparencymarketresearch.com

Back to top button