Video Surveillance and VSaaS Market Revenue to Account for US$88.25 Bn by 2024: Transparency Market Research

May 03, 2016, 08:30 ET from Transparency Market Research

ALBANY, New York, May 3, 2016 /PRNewswire/ --

Transparency Market Research has released a new market report entitled "Video Surveillance and VSaaS Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024." According to this report, the global video surveillance and VSaaS market revenue stood at US$21.19 bn in 2015 and is expected to reach US$88.25 bn by 2024, at a CAGR of 17.0% from 2016 to 2024.

Video surveillance means the monitoring of activity or changes in environment from a distance with the help of electronic equipment such as CCTV cameras on a real-time basis. The data retrieved through video surveillance can be also be stored for later use. Cloud-based video surveillance solutions are increasingly being adopted by end-users globally. These solutions offers various benefits, such as cost-efficiency, access to value-added services, a wide array of products for hosted video, easy conversion of analog systems to IP, and increased system performance. Increasing security concerns at the global level, continuous infrastructure investments, HD and megapixel camera advancements, and the advent of do-it-yourself (DIY) solutions are the key factors that drive the market for video surveillance market globally. Technological advancements in video analytics and high-resolution perfect imaging, the need for centralized data and application, decreasing IT costs, and growing interest in smart cities act as major drivers of the growth of global VSaaS market. 

Full Research Report on Global Video Surveillance and VSaaS Market with detailed figures and segmentation at:

The video surveillance and VSaaS market is segmented on the basis of types: analog and IP-based. IP-based video surveillance systems comprise the largest segment, accounting for a market share of approximately 55%. Based on components, the video surveillance and VSaaS market is segmented into hardware, software, and VSaaS. Video surveillance hardware segment acquired the majority share among other components in 2015. The VSaaS segment is anticipated to grow the fastest, with an expected CAGR of 29.7% during the forecast period from 2016 to 2024, as it eliminates the need for high-storage-capacity servers and offers cost effectiveness. The VSaaS services market is further segmented into hosted, managed, and hybrid services. 

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The transportation end-user segment held a major share of the video surveillance and VSaaS market in 2015. Public transport media are prone to theft, vandalism, and other such activities which need to be controlled. The use of video surveillance in traffic monitoring in transportation sector is increasing in a bid to curb increasing crime across the globe. 

During the coming years, the video surveillance and VSaaS market is expected to grow significantly in Asia Pacific due to its fast technological development, growing economy, large number of construction projects, and population growth. 

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The global market for video surveillance and VSaaS has been segmented as follows: 

Video Surveillance and VSaaS Market: By Type 

  • Analog Video Surveillance and VSaaS
  • IP-based Video Surveillance and VSaaS 

Video Surveillance and VSaaS Market: By Component 

  • Video Surveillance Hardware
    • Cameras
    • Recorders and Storage
    • Encoders
    • Monitors
  • Video Surveillance Software
    • Video Analytics
    • Video Management Software (VMS)
  • Video Surveillance as a Services (VSaaS)
    • Hosted service
    • Managed service
    • Hybrid service 

Video Surveillance and VSaaS Market: By End-use Industry 

  • Residential
  • Retail
  • Business Organizations
  • Transportation
  • Government Buildings
  • Hospitality
  • Industrial
  • Stadiums
  • Healthcare Organizations
  • Others (Educational Institutions and Religious Buildings) 

Video Surveillance and VSaaS Market: By Region 

  • North America
    • The U.S.
    • Rest of North America
  • Europe
    • EU7
    • CIS
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • South Asia
    • Australasia
    • Rest of APAC
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Rest of Latin America 

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insights for decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. 

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, TMR employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports. 

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SOURCE Transparency Market Research