Provided by BIS Research
The security and surveillance industry is at the brink of technological evolution with the advancement of new technologies like IP/network camera. This paradigm shift marks the growth of video surveillance as a service (VSaaS), and governments are investing in the surveillance market to develop new and strong infrastructures, to prevent crime and raise awareness about VSaaS, is helping the market to grow significantly.
The increased rate of suspicious and criminal activities have compelled enterprises, as well as governments, to look for better security solutions and database preservation. With the emergence of cloud based storage system, video surveillance has taken strides of progress in the last few years. Video surveillance as a service (VSaaS) has gained popularity due to the provisions it offers, of viewing and recording the video through web, thus providing the organizations with an optimum way of data storage. Besides these advantages, the VSaaS technology provides instant access to stored data and live stream, along with low initial investment involved in installing the system. Moreover, when integrated with video content analytics (VCA) software, VSaaS technology provides better and efficient security system.
Video content analytics (VCA) has been widely used by government agencies as well as enterprises for public safety. VCA can be incorporated with various software like detection software and recognition software, which provides an added advantage of better security, precision in operations and safety. The variety of applications provided by VCA technology has helped in the growth of this market over the years and the utilization of software for various purposes like motion detection, intrusion detection, facial recognition, and traffic management, has widened.
According to a research report by BIS Research, titled ‘Global Video Content Analytics (VCA) and Video Surveillance as a Service (VSaaS) Market, Analysis and Forecast, 2017 – 2022’, among different VCA software used in the market, detection holds the largest share in the market due to its widespread use in governmental and non-governmental application. According to the market report, VSaaS technology is expanding its application in various fields such as, commercial, residential, industrial, infrastructures and institutions. Among these applications, infrastructure is the fastest in adopting VSaaS technology, whereas commercial segment is estimated to witness a strong growth rate during the period of 2016 to 2022.
The report divides the market along the lines of software, technology, service and application. Moreover, each technology has been further mapped as per their geographical markets and have been estimated according to different economic conditions. According to the report, North America leads the global market with the highest revenue generation. However, it is Asia Pacific which is expected to witness stronger growth rate during the forecast period, owing to the development of Asian economies, such as India and China. These countries are taking several steps towards adopting new technologies and security system to ensure better public safety.
The report also provides a detailed chapter on key market players and their SWOT analysis. Some of the key players in the market are Avigilon Corporation, Cisco, ADT Security, Mobotix AG and Verint Systems. These players are looking forward to expand their business through collaborations and partnerships, and trying to stay ahead in the game with product launches and offering enhanced technology to their potential clientele.
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