Wednesday, 22 January 2014
IP Video Surveillance and VSaaS Market Expected to Reach $57.3 Billion by 2020 - Allied Market Research
For organization’s security, IP video surveillance proves to be an efficient tool. Through it one can record any footage and circulate it over the internet. Hence, one can effectively keep a watch on things going in respective organizations.
According to the report prepared by AMR’s analysts, global market for IP Video Surveillance and VSaaS is will reach $57.3 billion by 2020. According to them, North America will lead in IP Surveillance market by 2020 with Asia Pacific region having a CAGR of 44.3%. Also, in terms of revenue, North America is studied to lead with figure of $18,741.6 million by2020.
In developing countries it is still under evolution; however in developed countries, IP surveillance systems have already replaced analogue surveillance systems. Experts stated that IP Surveillance market will definitely grow during the analyzed period. This, they credited to favorable regulatory impositions rising security concern and increasing awareness regarding the benefits of IP based surveillance system.
Banking and financial organizations of application market are expected to lead in terms of revenues. On Also, with a studied figure of $24.3 billion by 2020, surveillance hardware market will be front runner.
When evaluated against conventional surveillance systems, IP surveillance is more scalable and flexible. It provides new and better avenues for end-users. But, there is always a concern of important data being hacked. Hence, this may impact the growth rate.
Geographies, applications and products are three segments that form IP surveillance market, Key companies profiled by analysts for this market are D-Link Corporation, Avigilon Corporation, March Networks, Axis Communication AB , Genetec, Milestone Systems etc.