Global Video Survelliance As A Service (Vsaas) Market is expected to generate a revenue of $106294.89 million by 2025

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Jul 13, 2017, 19:43 ET

LONDON, July 13, 2017 /PRNewswire/ -- Highlights

The North America video surveillance market is expected to grow at a CAGR of 17.1% for the forecast years of 2017-2025 and is estimated to be worth $35077.31 million by 2025.
A growing implementation of security solutions by the commercial sector, falling prices of cameras, and a shift from analog to IP cameras have all acted as major drivers for the expansion of the market.
The North America video surveillance market is segmented by type into IP–based and analog.
In recent times, an increased preference amongst the users for the IP-based system has been observed and this type is expected to continue its dominance in the coming years as well.
The hybrid service market is also predicted to grow fast during the forecast period at a CAGR of 24.89%.
The video surveillance market is finding increasing application in commercial, industrial as well as residential sectors. Of these, the Commercial application is expected to lead the VSAAS market during the forecast years.
The residential application is also expected to grow faster at a CAGR of 16.66% because of the security concerns amongst owners regarding increasing number of criminal activities, thefts, and unauthorized access in residences. However, factors such as asymmetric internet speed connections, lack of awareness among end-users, integration issues and privacy and security concerns may inhibit the market growth in this region.

KEY FINDINGS
The global surveillance market is estimated to be worth $ 31093 million in 2017. It is anticipated to grow at a CAGR of 16.6% between 2017 and 2025 and generate a revenue of $106294.89 million by 2025. The market is supported by the worldwide investments made by the various governments in surveillance equipment and technologies against any risk of terrorism.

MARKET INSIGHTS
Factors like declining prices of cameras, rise in adoption of security solutions by the commercial sector and a shift from analog to IP cameras are majorly driving the global video surveillance market. The global video surveillance market can be segmented on the basis of type, service, and application. On the basis of type, the IP-Based video surveillance market is anticipated to show an increase in the CAGR of 18.88% during the forecast period and generate $74,406 million by 2025. By service, the Hosted service market held the largest market share of 42.50% in 2016 as this service is especially in demand for a number of smaller businesses. In terms of application, the residential application is showing promise as it is expected to grow at a CAGR of 16.66% during the forecast period. However, it is the Commercial application that is expected to dominate the Global VSAAS market in coming years.

REGIONAL INSIGHTS
Several retailers are now expanding in the North America, especially in the US as the market generated $9950 million in 2017. However, it is the Asia-Pacific market which is expected to hold a major share by the end of the forecast period, especially due to the growing Indian and the Chinese market in this region. The Indian video surveillance market is expected to grow at a CAGR of 18.1% during the forecast period. The complex and restrictive nature of security product certification in some of the European countries is proving it difficult for the several retailers to flourish in this region. However, various efforts are being made to expand the market in this region and the market is predicted to grow at a CAGR of 15% during the forecast period. In terms of application, the residential application is showing promise as it is expected to grow at a CAGR of 16.66% during the forecast period, but it is the Commercial application that is expected to dominate the Global VSAAS market in the coming years.

COMPETITIVE INSIGHTS
Axis Communications is a major vendor in video surveillance solutions which is focusing on refining the partner network, develop and launch various innovative products, compete to provide efficient products for the end users and continue to expand globally.
The other major players in the market include Agent Video Intelligence, Mirasys Ltd, Verint Systems Inc. Bosch Security Systems, Avigilon, Brivo Systems Llc, Adt Security Corporation, Canon Inc. Objectvideo Cisco Systems, Envysion Inc., Controlbynet ,Genetec Inc., Hikvision, Indigovision Ltd, Geovision, Intransa Inc, Mobotix Ag, Neovsp, March Networks Corps, Pelco Corporation, Honeywell Security Group , Stanley Black And Decker, Panasonic Systems Networks Company Of America and Salient Systems Corporations.
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