A market research report, “IP Video Surveillance and VSaaS Market (Technologies, Applications, Services, Geography) – Industry Analysis, Trends, Share, Opportunities and Forecast, 2012 – 2020” has been published by the US market research company Allied Market Research. The global IP Video Surveillance and VSaaS market is expected to reach $57.3 Billion by 2020. North America is expected to see highest share in IP Surveillance market by 2020. Asia Pacific is expected to grow with highest CAGR 44.3 per cent during analysis period 2013-2020. North America would be the highest revenue generating segment with a value of $18,741.6 million in 2020.
Get full access to the report at http://www.alliedmarketresearch.com/IP-video-surveillance-VSaaS-market
According to the researchers, IP surveillance market is undergoing an evolutionary phase in developing countries therefore promising significant potential. In case of developed countries, analogue systems are being actively replaced by IP. Increasing awareness of the benefits of IP based system, favorable regulatory impositions and rising security concern are the key factors expected to catalyze the growth of IP during the forecast period. Penetration of internet protocol in surveillance has created a long lasting impact on the overall surveillance industry.
AMR analyst Bryan Olson says: “IP Surveillance system is widely accepted in developed markets and the adoption rate is expected to increase in developing markets such as Asia-Pacific.”
Government and higher security segment is expected to adopt IP system at a faster pace during the analysis period, growing at a CAGR of 39.2pc from 2013 to 2020. Banking and financial institutes are expected to be the highest revenue generating segment within the application market. The IP hardware market is expected to be the highest revenue-generating segment with estimated revenues of $24.3 billion by 2020.
An IP system serves better flexibility and scalability features in comparison to the CCTV and conventional surveillance systems. Analogue systems are expandable only to a limit: for instance, only limited number of cameras can be added to infrastructure. However, IP is creating better opportunity for users willing to focus on multi-level or multi-site business expansions. For this reason, organisations are expected to prefer IP systems over analogue according to the research firm.
IP surveillance is configured with 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 driving force for the market. IP 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 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 systems namely, Avigilon Corporation, Axis Communication AB (pictured), D-Link Corporation, Genetec, March Networks, Milestone Systems, Panasonic Corporation, Mobotix AG, GeoVision Inc. and Arecont Vision.
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, according to the report.
