As per the market study, the
global IP Video Surveillance and VSaaS market is expected to reach $57.3
Billion by 2020. North America is expected to experience highest share in IP
Surveillance market by 2020. Asia Pacific is expected to grow with highest CAGR
44.3% during analysis period 2013-2020. North America would be the highest
revenue generating segment with a value of $18,741.6 million in 2020.
IP Surveillance market is
undergoing an evolutionary phase in developing countries therefore promising
significant potential. In case of developed countries, the analogue
surveillance systems are being actively replaced by IP surveillance systems.
Increasing awareness regarding the benefits of IP based surveillance system,
favorable regulatory impositions and rising security concern are the key
factors expected to catalyze the growth of IP Surveillance market during the
forecast period. Penetration of internet
protocol in surveillance has created a long lasting impact on the overall
surveillance industry.
"IP Surveillance system is
widely accepted in developed markets and the adoption rate is expected to
increase in developing markets such as Asia-Pacific," states analyst.
Government and higher security segment is expected to adopt IP surveillance
system at a faster pace during the analysis period, growing at a CAGR of 39.2%
from 2013 to 2020. Banking and financial institutes are expected to be the
highest revenue generating segment within the application market. IP
surveillance hardware market is expected to be the highest revenue-generating
segment with estimated revenues of $24.3 billion by 2020.
IP Surveillance system serves
better flexibility and scalability features in comparison to the CCTV and
conventional surveillance systems. Analog systems are expandable only to a
specific limit: for instance, only limited number of cameras can be added to
the existing infrastructure. However, IP surveillance system is creating better
opportunity for end-users willing to focus on multi-level or multi-site
business expansions. For this reason, organizations are expected to prefer IP
surveillance systems over analog systems.
IP surveillance system is
configured with advanced technology such as video motion detection, frame rate
control, automatic brightness control, internal storage memory, and remote-zoom
facility. From another perspective, rising security concern and technological
advancements throughout the globe is acting as a strong driving force for the
market. IP surveillance systems integrated with video analytics enable high
level of intelligence, therefore enhancing security. Such systems are
evidencing higher adoption rates in security sensitive segments such as airports,
casinos and so on.
IP surveillance systems are
directly connected to the internet and this makes the system and associated
sensitive data, vulnerable to hackers. Technological innovations are expanding
the application areas of the surveillance systems anywhere from healthcare
setups to public places. This is perceived to cause major concerns with respect
to privacy of individuals especially in countries such as North America and
Europe where the privacy laws are comparatively stringent.
This report segments the IP
surveillance market based on products, applications and geographies. This
report encapsulates company profiles of ten leading companies dealing in IP
Surveillance systems namely, Avigilon Corporation, Axis Communication AB,
D-Link Corporation, Genetec, March Networks, Milestone Systems, Panasonic
Corporation, Mobotix AG, GeoVision Inc. and Arecont Vision.
Along with the benefits of IP
surveillance systems, the public needs to be educated about the privacy issues
related to monitoring. This can be done by educating the public on issues such
as general norms and objectives of deploying surveillance systems, existing
privacy laws, penalties and method of reporting for any breach of surveillance
and privacy laws etc. This will instill confidence among the public.
Inquire about this report at: http://www.marketresearchreports.com/allied-market-research/ip-video-surveillance-and-vsaas-market-technologies-applications-services
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