Inkwood Research estimates that the Global Video Surveillance as a Service Market is evaluated to project a CAGR of 18.55% in terms of revenue during the forecasting years of 2021-2028.
“Browse 41 Market Data Tables and 43 Figures spread over 170
Pages, along with an in-depth TOC on the Global Video Surveillance as a Service Market Forecast
2021-2028.”
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Video surveillance, as a service, is essentially a hosted
platform that provides viewing and recording videos through the web. The
cameras are installed at the users’ site, and the video is streamed to the
system at the provider’s facilities. Recent innovations across data storage
technologies as well as the need for centralized storage have resulted in the
increased adoption of video surveillance, as a service.
Declining
Camera Prices to Propel Market Growth
The prices of security solutions, including IP cameras, are
rapidly dropping. Moreover, with a new array of technologies, there is no need
for an internal server in order to store the camera data, since it is stored in
the cloud. This leads to a cost-effective and easy installation of security
solutions. Earlier, the costs of security products were high, and therefore not
affordable for small-scale residential and business owners. The declining
prices of such solutions are mainly accredited to their increased demand and
rising competition among vendors.
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Hosted to
be the Dominating Service by 2028
The hosted segment includes recording the video and
delivering off-site hosting for products, such as cameras. The recorded video
is then safely stored in a data center or a remote server. Moreover, the
end-user can also watch a live or recorded video, as per their requirements.
Hosted video surveillance as a service is used to manage the recorded and
stored data within the cloud. It is available in a monthly subscription format.
Besides, the end-user can customize the plan according to their needs, as well.
Asia
Pacific to Lead the Global Market
The expanding infrastructure across developing countries
like India and China has significantly pushed the market growth in the Asia
Pacific. Moreover, the declining costs of the overall-CCTV based security
system package, owing to reduced video camera prices, has boosted price
competitiveness, particularly in the Indian, Chinese, and South Korean market.
Moreover, several product launches and technological advancements within the region’s
surveillance security sector are likely to offer numerous market growth
opportunities.
The industrial rivalry among suppliers is projected to be
high during the forecast period. Several major companies, including Honeywell
International, Bosch, and Cisco, have entered the market due to its lucrative
nature and possess the required expertise to deliver the service. They are also
in a position to charge more, given their brand name. Some of the leading
companies operating in the market are, Axis Communications AB, Envysion,
Cloudastructure Inc, etc.
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relevant fact-based research are customized across industry verticals such as
technology, automotive, chemicals, materials, healthcare, and energy, with an
objective comprehension that acknowledges the business environments. Our
geographical analysis comprises North & South America, CEE, CIS, Middle East,
Europe, Asia, and Africa.
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