The recent attacks to national security and the rising crime activities worldwide have compelled governments to scrutinize their existing security measures. The demand for resilient and secure infrastructure is therefore at all-time high. As governments and private organizations look for advanced technologies for improved security, the demand for video surveillance and VSaaS market will rise in response. Given the scenario, persisting investments in infrastructure such as railways, roads, airports, and communication networks are fuelling the demand for video surveillance and VSaaS solutions.
With recent advancements in high definition and megapixel cameras the market for video surveillance and VSaaS is likely to witness heightened opportunities. Furthermore, the rising popularity of do-it-yourself (DIY) video surveillance for home security, the market will gain increased momentum in the coming years. On the downside, privacy concerns and high cost of IP video surveillance market will continue creating bottlenecks for the market.
Overall, the global video surveillance and VSaaS market is expected to rise at a CAGR of 16.6% between 2017 and 2025. At this pace, the market’s valuation will reach US$101.70 bn by the end of 2025, from US$25.11 bn in 2017.
On the basis of end user, the video surveillance and VSaaS market is segmented into the residential, retail, business organizations, transportation, government buildings, industrial, and others segments. Of these, the transportation and retail segments will account for the leading market shares through the forecast period. The threat to public security will continue to rise, which will increase the use of video surveillance systems. Furthermore, these systems help protect innocent civilians from terrorist attacks and maintain a safe and secure environment.
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Regionally, the global video surveillance and VSaaS market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. Among these regions, Asia Pacific will emerge as the leading contributor to the global market, exhibiting a CAGR of 20.2% between 2017 and 2025. The regional market will continue offering lucrative opportunities on account of the growing economies and increasing construction projects in India and China. Also the Asia Pacific market is gradually shifting toward IP-based video surveillance systems from their analog counterparts to cater to the rising demand for improved image quality. This paradigm shift will enable the regional market exhibit steep growth through the forecast period.