Video surveillance and VSaaS market: Global Business Opportunities Analysis with Trends and Forecast

SAN JOSE, Calif. - March 23, 2020 - PRLog -- The video surveillance and VSaaS market was valued at US$ 43.38 Bn in 2018 and expected to grow at a CAGR of 17.2% during the forecast period from 2019 to 2027.

Market Insights

"Growing technological innovations globally will enhance the demand for video surveillance and VSaaS Market"

The surge in technological innovations coupled with rising government focus on security & safety is projected to drive the video surveillance and VSaaS market throughout the forecast period from 2019-2027. The growing adoption of IP-based VSaaS services and the rise in the use of video surveillance for regulation & control are some other factors expected to enhance the market demand in years to come. In 2018, Asia Pacific and North America had a significant share in the global video surveillance and VSaaS market.

The rising video analytics market along with the growing adoption of surveillance systems in numerous industries (such as transpiration, retail outlets, business organizations, government buildings, hospitality, and others) is another major factor expected to drive the market over the forecast period. The video analytics market estimated at around US$ 3.0 Bn in 2018 and anticipated to reach over US$ 9 Bn by 2024 at a CAGR of more than 21.5% during the forecast period. The surge in product launch by manufacturers is further anticipated to enhance market demand. For instance, In December 2019, Robert Bosch GmbH launched new IP 3000i Series Cameras. The newly launched cameras come with enabled essential video analytics that is expected to increase its video surveillance and security features.

Browse the full report at https://www.credenceresearch.com/report/video-surveillance-and-vsaas-market

Presence of a large number of regional as well as domestic players in the global video surveillance and VSaaS market are making the global market highly fragmented. Strategic partnerships, acquisitions, mergers, and collaborations are anticipated to be the major strategies followed by key market players.

Industrial Developments

• In April 2019, Honeywell Security Group integrates Intel Vision products in its MAXPRO security platform. The integration will enable Artificial Intelligence capabilities to video surveillance and video security.
• In September 2018, Hangzhou Hikvision Digital Technology Co., Ltd. partners with Videonetics for technology integration in its security products and solutions. In this partnership, Videonetics IVMS (Intelligent Video Management Software) integrates with the Hangzhou Hikvision Digital Technology Co., Ltd. network cameras that will enhance the video security and surveillance capabilities.