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$75.64 Billion Video Surveillance Market - Analysis by System, Hardware, Software, Service, Vertical & Region - Global Forecast to 2022 - Research and Markets

[April 06, 2017]

$75.64 Billion Video Surveillance Market - Analysis by System, Hardware, Software, Service, Vertical & Region - Global Forecast to 2022 - Research and Markets

Research and Markets has announced the addition of the "Video Surveillance Market - Global Forecast to 2022" report to their offering.

The video surveillance market is projected to reach USD 75.64 Billion by 2022, at a CAGR of 15.4% between 2017 and 2022. The growth of this market can be attributed to the increasing demand for IP cameras, owing to their better functionality and reduced cost, use of cloud services to store large amounts of data, and increasing installation of surveillance systems for security reasons.

Based on hardware, software, and service, the Video Surveillance as a Service (VSaaS) segment is expected to grow at the highest CAGR between 2017 and 2022. The market is driven by the increasing importance of VSaaS in various applications due to its benefits of remote access and management, among others. As video feeds are stored in the cloud, customers can access and manage them using a desktop, a laptop, or a mobile device from any location using an Internet connection. This adds an unprecedented flexibility to the video surveillance system. Hence, the VSaaS segment is expected witness rapid growth.

Based on vertical, the commercial segment accounted for he largest share of the video surveillance market in 2016, followed by the infrastructure segment. The need for security and safety of retailers, franchise stores, and mall owners has resulted in the creation of safe zones using video surveillance to provide safety, monitor inventory and property, and reduce criminal activities. In the commercial sector, financial data, buildings, bank ATMs, branches, and other assets require high security, which is an important part of the economic growth. The hospitality segment is also expected to provide several growth opportunities to the video surveillance system providers. This is expected to fuel the demand for the video surveillance market in hospitality.

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