A comprehensive and exclusively analyzed report was published by Allied market research, titled "IP Video Surveillance and VSaaS Market (Technologies, Applications, Services, Geography) - Industry Analysis, Trends, Share, Opportunities and Forecast, 2012 - 2020. As per the observation, the global IP Video Surveillance and VSaaS market is expected to reach $57.3 Billion by 2020.North America is expected to generate highest revenue in IP Surveillance market by 2020. Asia Pacific is expected supersede other geographic segments, with a 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.
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IP Surveillance market is experiencing an evolutionary phase in developing countries; therefore, promising noteworthy potential. In case of developed countries, the analogue surveillance systems are being actively replaced by IP surveillance systems. Increasing awareness regarding the benefits of IP based surveillance system, favorable regulatory impositions and rising security concern are the key factors expected to catalyze the growth of IP Surveillance market during the forecast period. Penetration of internet protocol in surveillance has created a long lasting impact on the overall surveillance industry.
"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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IP Surveillance system offers improved flexibility and scalability features as compared to the CCTV and conventional surveillance systems. Analog systems are expandable only to a specific limit: for instance, only limited number of cameras can be added to the existing infrastructure. However, IP surveillance system is creating better opportunity for end-users willing to focus on multi-level or multi-site business expansions. This is the primary reason why organizations are likely to choose IP surveillance systems over analog systems.
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IP surveillance system is configured with advanced
technology such as video motion detection, frame rate control, automatic
brightness control, internal storage memory, and remote-zoom facility. From another angle, increasing
security concerns and technological advancements worldwide are acting as a
strong driving force for the market. IP surveillance systems integrated with
video analytics would allow high level of intelligence; therefore, augmenting
security. Such systems are having a larger adoption rates in security sensitive
segments such as airports, casinos and so on.
Surveillance systems are directly connected to the internet and this makes the system and associated sensitive data, vulnerable to hackers. Technological innovations are expanding the application areas of the surveillance systems anywhere from healthcare setups to public places. This is perceived to cause major concerns with respect to privacy of individuals especially in countries such as North America and Europe where the privacy laws are comparatively stringent.
This report segments the IP surveillance market based on products, applications and geographies. This report encapsulates company profiles of ten leading companies dealing in IP Surveillance systems namely, Avigilon Corporation, Axis Communication AB, D-Link Corporation, Genetec, March Networks, Milestone Systems, Panasonic Corporation, Mobotix AG, GeoVision Inc. and Arecont Vision.
Along with the benefits of IP surveillance systems, the public needs to be educated about the privacy issues related to monitoring. This can be done by educating the public on issues such as general norms and objectives of deploying surveillance systems, existing privacy laws, penalties and method of reporting for any breach of surveillance and privacy laws etc. This will instill confidence among the public
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SOURCE Allied Market Research