Video Surveillance as a Service (VSaaS) and Video Analytics are two related market segments in the Video Surveillance Market currently. To be described in simple terms, the Video Surveillance System is a combination of both Software and Hardware components which are used to capture and analyze video. Both have some common and exclusive market players and the overall market is growing due to increased government initiatives for surveillance and also due to the rise in crime rate and security threats in all regions across the globe. Surveillance systems can be as simple as a video camera or as complex as biometric surveillance systems that respond to facial patterns or retina screens. Electronic surveillance systems can also be used to track computer usage or conduct data mining, or may simply be a human acting as a security guard. It is a very dynamic industry.
Market Growth Estimations:
The Global Video Surveillance Market generated revenue of$ 15.7 Billion in 2013 and is expected to cross $ 20 Billion by 2019, according to a new report from the IndustryARC Research.
CCTV and Public Surveillance Market is expected to grow to $ 3.5 Billion by 2018 from around $ 1.6 Billion in 2013.
Mobile Video Surveillance is the latest entrant to the market with a growth rate of around 18% with a market size of around $ 545 Million in 2013.
The Hardware Market, comprised of cameras, recorders, storage, encoders and monitors, was valued at $9.49 Billion in 22 and is expected to grow at a CAGR of 17.3%. In 2012, the recorders and storage segment held the largest share of the total hardware market at 37%.
The Transportation Market, which encompasses city surveillance, public transits and highways, is the largest segment among end user application areas. Researchers expect the segment, which accounted for around 15% share of the total market in 2012, to grow at a CAGR of 21.2%.
North America was the largest market in terms of revenue generation in 2012 and accounted for around 35% share of this market. Asia Pacific followed with roughly 31% share. The region is expected to be the fastest growing market during the forecast period, growing at a CAGR of 23.4% and registering a market size of $17.12 billion in 2019. Growth in the Asia Pacific market is mainly spurred by demand from China.
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1.Video Analytics Market:
The video analytics market is growing at a fast rate. The need for enhanced security and insights from customer behavior gathered by the existing video surveillance is driving the video analytics market globally. The Asia-Pacific market is emerging as a very promising market for the video analytics solutions, as the demand for these solutions is expected to be on the rise in this region. Due to the need for smart city, the government and municipalities around the world are increasingly installing video analytics solutions and thus driving the video analytics market across the globe.
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2.Video Surveillance as a Service Market:
In the recent years, The security, property and information of individuals have become critical global issues with retaliations against terrorism, enhanced national and cyber security being the major areas generating huge investments. This leads to the existence of the VSaaS Market and is the driving factor for the same.
In order to achieve appreciable growth along with profitability, companies need to largely focus on three specific areas; namely a price-effective business model, HD cameras as in the resolution of the cameras and mass marketing which incorporates dominant use of social networking.
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The report describes the Video Surveillance and Video Analytics market by product types, geography, and applications. High level analysis about the individual Video Surveillance and Video Analytics product costs, strategies, future opportunities along with the business landscape analysis of key market players are focused in the report. Competitive landscape for each of the product types is highlighted and market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. Market shares of the key players for 2014 are provided. The prominent players profiled in this report are Axis Communications, Bosch, Cisco, Pelco and others:
- Indigovision Group Plc
- Mirasys Ltd
- Tulip Telecom Ltd
- Verint Systems Ltd
Mr. Sanjay Matthews
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