-Immense capabilities of IP-based video surveillance leading to increasing replacement of predecessor surveillance systems promising for video surveillance and VSaaS market
-Easy scalability without steep hike in cost leads to vast uptick in demand from SMEs
ALBANY, N.Y., June 15, 2021 /PRNewswire/ -- Video Surveillance and VSaaS Market - Overview
Literally, video surveillance for commercial as well as residential properties records movement of individuals for various needs. Primarily, video surveillance system are installed to safeguard occupants from criminal dangers. In the event of onsite criminal activity, video surveillance records detailed movement of criminals for investigation purposes, and to reach them for carrying out unlawful activities.
In work environments, managers and supervisors use video footage to monitor employee productivity, and determine job performance areas where employee needs improvement. Video surveillance systems in work environments is also used to guide employees to follow company rules.
Video surveillance systems find substantial use in the retail sector too. Retail establishments use video surveillance to monitor customer activity while in the store.
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By definition, a video surveillance system comprises multiple video subsystems to collect, manage, and present video footage in a clear and concise manner from each individual video subsystem. When video surveillance system is packaged, and offered as a service for the live surveillance of commercial and residential properties, video surveillance as a service (VSaaS) surfaces.
Coming back on real-life use, video surveillance and VSaaS has high significance for recorded movement of individuals which, foremost, is directly related for life-saving pursuits. In commercial and organizational environments, movement of individuals to evaluate productivity, prevent theft are some invaluable use of video surveillance and VSaaS is deployed. Safety of life, emotional comfort, along with commercial gains are some tangible benefits of video surveillance and VSaaS, for which, the video surveillance and VSaaS market was valued at a whopping US$ 41.2 Bn in 2019.
Video Surveillance and VSaaS Market - Key Findings of the Report
Increasing Deployment of Advanced High-resolution Perfect Imaging and Video Analytics Video Surveillance Systems Shapes up Growth
For industrial and large commercial establishments, IP cameras of higher resolution are increasingly being deployed in large numbers for higher security. IP-based video surveillance is gaining adoption driven by its enhanced processing capabilities and compression algorithms. These systems are capable of identifying abnormal behavior and patterns by combining a few video footage, by means of leveraging novel technologies such as computer vision and pattern recognition.
In fact, for the deployment of advanced security systems, this requires more storage and computing power to support these systems. This, in turn, has led to the rise in demand for cloud-based VSaaS, therefore, creating handsome opportunities in video surveillance and VSaaS market.
Furthermore, issues associated with video storage and analysis can be addressed using hosted services and video analytics provided through VSaaS platform.
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Benefits of Easy scalability, Suitable for Low Budgets Creates Demand from SMEs
Video surveillance as a service enables easy scalability, along with the option to add additional services without steep hike in the base cost. This includes adding remote viewing, monitoring of performance of the system itself for possible damage to cameras, cables, etc. Such add-ons for high-resolution perfect imaging and video analytics is promising for continued impressive demand in the video surveillance and VSaaS market.
In recent years, SMEs have recognized the benefits of video surveillance and VSaaS for security of personnel that helps to provide them emotional comfort. Infrastructural investments made by employers for the safety of employees helps to gain their emotional confidence, which, manifests in the form of higher productivity, and employee retention to some extent.
Affordable cost and advantage of not requiring hiring of manpower are some of the clear-cut advantages of VSaaS for SMEs. The bundled package of VSaaS serves as a one-stop solution of security needs of SMEs, thus, underpins strong growth in the video surveillance and VSaaS market in the years ahead.
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Video Surveillance and VSaaS Market - Growth Drivers
- Rapid pace of evolution of video surveillance systems, integration of next-gen technologies suitable for various commercial, governmental, and residential buildings creates massive opportunities in video surveillance and VSaaS market.
- Suitability of hosted security services for small budgets, fewer resource constraints of SMEs to open vistas in the surveillance and VSaaS market.
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Video Surveillance and VSaaS Market -Key Players
- Hangzhou Hikvision Digital Technology Co.
- Honeywell Security Group
- Genetec Inc.
- Cisco System Inc.
- Agent Video Intelligence Ltd
- D-Link Systems Inc.
- Panasonic System Networks Co. Ltd.
- Robert Bosch GmbH
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