Global Video Surveillance as a Service (VsaaS) market is anticipated to grow at a CAGR of 16.8% during the forecast period (2020-2026). The application of video surveillance in business is growing significantly due to the increasing need for physical security and the use of cloud-based services for centralized data. The introduction of new IP-based digital technologies, to detect and prevent undesirable behaviour, such as shoplifting, thefts, vandalism, and terror attacks is expected to fuel the growth of the VSaaS market. Additionally, favourable government policies and regulations related to the application of video surveillance devices in commercial & residential buildings further promote the market growth. VSaaS held a major market share in developed nations such as the US, UK, Germany, and Canada owing to their stringent safety measures.
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Certain issues associated with the market such as high bandwidth & high capacity storage requirements may have a negative impact on the growth of the market. Additionally, hacking and other piracy issues can restrain market growth during the forecast period. However, technological advancements in VSaaS and rising safety concerns are posing potential growth opportunities for the VSaaS market in near future. Moreover, emerging economies of the Asia-Pacific region such as India, China, and South Korea are creating splendid opportunities for market growth.
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Global Video Surveillance as a Service Market Segmentation
By End-Users
- Commercial
- Infrastructure
- Residential
- Military & Defence
- Industrial
By Type
- Analog Video Surveillance
- IP-Based Video Surveillance
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
