Portland, OR, March 22, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the IP video surveillance and VSaaS Marlet generated $28.39 billion in 2020, and is expected to reach $83.03 billion by 2030, with a CAGR of 10.9% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, major segments, value chain, major investment pockets, regional scenario and competitive landscape.
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Increasing transition from analog surveillance cameras to IP surveillance cameras, integration of IoT in surveillance cameras, and increasing need for security in high-risk areas are driving the growth of the global market for IP video surveillance and VSaaS. However, the high initial installation investment and large data storage issues restrict the market to some extent. On the other hand, the lack of professional expertise in managing IP cameras presents new opportunities in the coming years.
COVID-19 scenario:
- The outbreak of the COVID-19 pandemic has led to a global lockdown and temporary closure of production facilities in the electronics industry, thus affecting the overall growth of the global IP video surveillance and VSaaS market.
- This further disrupted the entire supply chain, leading to difficulties in sourcing raw materials. This, in turn, has affected the demand for electronics and semiconductor products across several industry verticals.
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The report offers detailed segmentation of the global IP Video Surveillance and VSaaS market on the basis of product type, application, and region.
Based on product type, the hardware segment held the highest market share in 2020, holding more than three-fifths of the total market share, and is expected to maintain its leading status during the forecast period. However, the services segment is estimated to register the highest CAGR of 13.3% from 2021 to 2030.
Based on the applications, the banking and financial sector segment held the greater market share in 2020, holding a quarter of the total market share, and is expected to maintain its leading status during the forecast period. However, the manufacturing and enterprise segment is expected to register the highest CAGR of 13.4% from 2021 to 2030.
Based on region, Asia-Pacific contributed the highest share in terms of revenue in 2020, holding almost half of the total market share, and is expected to retain its dominant share by 2030. Moreover, the same region is expected to manifest the fastest CAGR of 12.6% during the forecast period. Other regions covered in the report include North America, Europe and LAMEA.
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Key players in the global IP video surveillance and VSaaS market analyzed in the research include Avigilon (Motorola Solutions), Axis Communications AB, Bosch Security Systems GmbH, Dahua Technology Co., Ltd., D-Link Corporation, Hangzhou Hikvision Digital Technology Co., Ltd., Honeywell Security (Honeywell International Inc.), The Infinova Group, Panasonic Corporation and Pelco (Schneider Electric).
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, directs the organization towards the provision of high quality data and information. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.
