Video Surveillance and VSaaS Market : Recent Industry Developments and Growth Strategies Adopted by Players

The competition in the global video surveillance and VSaaS market is forecast to remain intense in the coming years. Besides the presence of several established and local enterprises, the market exhibits considerable opportunities for emerging players, finds Transparency Market Research (TMR) in a new study. This will however result in fiercer competitive rivalry among companies operating in the global video surveillance and VSaaS market.

Thus to remain ahead of the curve, players are inclined towards partnerships and strategic collaborations. These could help them gain advanced technologies, besides offering distribution channel advantages.

Hangzhou Hikvision Digital Technology Co. Ltd., Dahua Technology, and Axis Communications AB are among the leading companies in the global video surveillance and VSaaS market. These companies are mostly capitalizing on product launches to have a stronger foothold.

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According to TMR, the global video surveillance and VSaaS market is likely to reach US$101.70 bn by the end of 2025, from its earlier valuation of US$25.11 bn in 2016. If these figures hold true, the global video surveillance and VSaaS market will rise at a promising 16.6% CAGR between 2017 and 2025. By type, the global video surveillance and VSaaS market is bifurcated into analog and IP-based video surveillance and VSaaS segments.

Of these, the IP-based video surveillance and VSaaS segment is expected to exhibit exponential rise at a CAGR of 20.8% between 2017 and 2025. Regionally Asia Pacific emerged as the leading market and is predicted to showcase a CAGR of above 20% during the aforementioned forecast period.

The global market for video surveillance and VSaaS will continue demonstrating strong growth, on account of increasing security concerns globally. Video surveillance technologies have proven extremely crucial especially for monitoring terrorist activities and likelihood for illegal infiltrations. Governments around the world are therefore investing in advanced video surveillance devices and sophisticated surveillance networks to give impetus to their counter-terrorism operations. Bringing critical infrastructure under video surveillance has thus become a worldwide drive, creating lucrative prospects for the market’s expansion.

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On the downside, bandwidth requirements in the corporate sector are very high due to the considerable number of users and applications. This has created a burden on the corporate sector as the use of IT applications is rising at an exponential rate. Furthermore, the bandwidth challenges have become more demanding as industries are transitioning from physical security to IP-based video surveillance and VSaaS solutions. It has therefore become extremely difficult for advanced security systems to effectively operate in growing networks and accommodate more users and applications.

Nevertheless, with recent technological advancements such as inclusion of artificial intelligence the market will witness greater opportunities for growth in the future. Furthermore, integration of video analytics will help improving physical security and optimize utilization of surveillance. These developments will guarantee growth to the global video surveillance and VSaaS market in the coming years.

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