As per the market study, the global IP Video Surveillance and VSaaS market is expected to reach $57.3 Billion by 2020. North America is expected to experience highest share in IP Surveillance market by 2020. Asia Pacific is expected to grow with highest CAGR 44.3% during analysis period 2013-2020. North America would be the highest revenue generating segment with a value of $18,741.6 million in 2020.
IP Video Surveillance and VSaaS Market, is growing at significant growth rate. Increasing adoption of advance surveillance systems by the government sector and increased maintenance cost of existing surveillance system are major driving forces assisting in adoption of IP surveillance system. This report provides information about growth potential of the market for global players and researchers. The report delivers key intelligence about future trends in IP surveillance market.
Traditional surveillance systems are not competitive with respect to capabilities of flexibility and scalability and ultimately results into increasing cost of the systems. Moreover, the capacity of conventional storage device is also less. IP surveillance system eliminates the problem of flexibility and scalability due to its compatibility with existing infrastructure of the companies. Additionally, the storage capacity of the cloud based solutions currently used in IP surveillance systems is comparatively high. IP surveillance system delivers system intelligence facility with the help of video analytics and video management software.
"IP Surveillance system is widely accepted in developed markets and the adoption rate is expected to increase in developing markets such as Asia-Pacific," states AMR analyst Bryan Olson. Government and higher security segment is expected to adopt IP surveillance system at a faster pace during the analysis period, growing at a CAGR of 39.2% from 2013 to 2020. Banking and financial institutes are expected to be the highest revenue generating segment within the application market. IP surveillance hardware market is expected to be the highest revenue-generating segment with estimated revenues of $24.3 billion by 2020.
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