Video Surveillance as a Service (VSaaS) Emerges as a Key Trend, Offering Cost-Efficient Cloud Solutions for Surveillance Needs Amidst the Pandemic
Tuesday, October 31, 2023
DUBLIN, Oct. 23, 2023 /PRNewswire/ -- The "Global Surveillance Camera Market (By System Type, Technology, & Region): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)" report has been added to ResearchAndMarkets.com's offering.
https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
The global surveillance camera market is on a trajectory of robust growth, with forecasts projecting it to reach a substantial value of US$33.11 billion by 2023, accompanied by a notable CAGR of 8.30%. Additionally, the market is expected to witness an increase in volume, with an estimated 278.6 million surveillance camera units by 2023.
Surveillance cameras, widely used for monitoring specific areas, are integral in enhancing security and safety for individuals and businesses. Factors driving market expansion include the growing urban population, rising criminal threats, increased traffic management needs, technological advancements, and a surge in the number of ATMs.
Key Market Segments
-- By System Type: The global surveillance camera market is categorized
into two segments based on system type: Analog and IP surveillance
cameras. IP surveillance cameras dominate the market in terms of share,
while the market is also segmented by volume into Analog, IP Commercial,
IP Consumer, and other surveillance cameras. IP Commercial surveillance
cameras hold a significant share, whereas the analog segment is expected
to decline as technological innovation and IP cameras gain prominence.
-- By Technology: The market is segmented into three technology-based
segments: image signal processor, vision processor, and vision processor
+ AI surveillance cameras. Image signal processors constitute the
largest market share. The adoption of home security systems, integration
of artificial intelligence (AI) systems in surveillance cameras, and the
increasing use of IoT-based surveillance systems contribute to market
growth. The vision processor + AI surveillance camera segment is
expected to exhibit the highest CAGR as surveillance camera
manufacturers shift towards AI processing.
Geographic Coverage
The global surveillance camera market is segmented into four regions: Europe, North America, Asia Pacific, and the Rest of the World. North America includes the US, Mexico, and Canada, while Europe comprises the UK, Germany, France, Spain, and the Rest of Europe.
The Asia Pacific region covers Japan, China, South Korea, India, Australia, and the Rest of Asia Pacific. Asia Pacific commands the largest market share due to increasing criminal activities and the need to enhance security. In North America, the US holds a significant share, driven by widespread CCTV camera installations in public and private locations. Japan and China are major players in the Asia Pacific region, with public safety agencies heavily investing in advanced technologies for enhanced safety solutions.
Top Impacting Factors
Growth Drivers
1. Growing Number of ATMs
2. Increase in Crime Rate and Threats
3. Rise in Infrastructure Developments
4. Growth in Traffic Management
Challenges
1. Increase in Privacy Concerns
2. High Investment Costs
Trends
1. Integration of Artificial Intelligence Systems in Surveillance Cameras
2. Adoption of IoT-based Surveillance Systems
3. Emergence of Video Surveillance as a Service (VSaaS)
4. Increase in Adoption of Spy and Hidden Cameras
Driver: Growing Number of ATMs
The proliferation of banks and ATMs has led to an increase in ATM thefts and suspicious ATM withdrawals. These criminal activities pose a significant security threat. Surveillance cameras play a crucial role in monitoring ATMs and deterring criminal acts, thereby driving the demand for surveillance cameras.
Challenge: Increase in Privacy Concerns
The widespread use of surveillance cameras has raised concerns about privacy. Advanced surveillance cameras can inadvertently compromise individuals' privacy, as they may be recorded without their knowledge in various public spaces. Unauthorized access to video recordings and clips has led to privacy breaches, posing a potential threat to the demand for surveillance cameras.
Trend: Emergence of Video Surveillance as a Service (VSaaS)
Video Surveillance as a Service (VSaaS) is gaining momentum due to increasing security concerns, the rise of smart cities, and growing demand for video surveillance. The adoption of multi-megapixel HD cameras generates vast amounts of video surveillance data, making cloud computing an efficient storage solution, particularly for small and medium-sized businesses. Benefits of cloud technology include lower capital investment, reduced power consumption, practical hardware utilization, cost savings in IT personnel, and enhanced reliability.
The COVID-19 Analysis
The COVID-19 pandemic has had a significant impact on the global surveillance camera market. Surveillance cameras have been instrumental in enforcing social distancing measures and monitoring COVID-19 patients. Thermal surveillance was implemented to screen temperatures and prevent the spread of the virus in crowded areas.
Companies Mentioned
-- Axis Communications AB
-- Cisco Systems, Inc.
-- Dahua Technology
-- Hanwha Group
-- Hikvision
-- Honeywell International Inc.
-- LG Electronics Inc.
-- Motorola Solutions (Avigilon)
-- Panasonic Corporation
-- Robert Bosch GmbH
-- Sony Group Corporation
-- Teledyne Technologies Incorporated
-- Uniview
For more information about this report visit https://www.researchandmarkets.com/r/wy0yc4
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/video-surveillance-as-a-service-vsaas-emerges-as-a-key-trend-offering-cost-efficient-cloud-solutions-for-surveillance-needs-amidst-the-pandemic-301964339.html
SOURCE Research and Markets
|
|
|
|
|
 |
Energy Toolbase Launches Energy Storage Partnership with Sungrow to Support PowerStack 255CS and PowerTitan 2.0 | Jan 22, 2026
|
|
RS now offers Phoenix Contact's pioneering new NearFi technology | Jan 22, 2026
|
|
Einride and IonQ Partnership Uses Quantum Computing to Optimize the Logistics of Electric and Autonomous Freight | Jan 22, 2026
|
|
SCAILIUM Debuts "AI Production Layer" to Overcome GPU Starvation and Slash AI Energy Waste | Jan 22, 2026
|
|
MetaOptics to Showcase Five Breakthrough Metalens-Powered Products at CES 2026 | Jan 22, 2026
|
|
Quantum Art Raises $100 Million in Series A Round to Drive Scalable, Multi-Core Quantum Computing | Jan 22, 2026
|
|
No Assembly Required: Barrett Distribution Centers Powers Maxwood Furniture's West Coast DTC Expansion | Jan 22, 2026
|
|
Hesai Recognized as the Only Lidar Company on Morgan Stanley's "Humanoid Tech 25" of Global Robotics Leaders | Jan 22, 2026
|
|
Fresco Raises EUR15m Series C to Power the Future of AI-Driven Cooking and the Connected Kitchen Ecosystem | Jan 22, 2026
|
|
Cellid and Jig.jp Jointly Develop AR Glasses | Jan 22, 2026
|
|
|
