Wilmington, Delaware, United States, Nov. 08, 2022 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global video surveillance and VSaaS market is forecasted to reach a value of US$ 201.63 Bn by 2031, according to an assessment report by Transparency Market Research (TMR). In addition, the report finds that the market for video surveillance and VSaaS is expected to grow at a CAGR of 14.0% during the forecast period, from 2022 to 2031.
Key vendors in video surveillance and VSaaS market are investing in R&Ds in order to offer improved solutions. Moreover, major companies in the market for video surveillance and VSaaS are focusing on their regional expansions. Such initiatives are foreseen to lead to promising future of video surveillance and VSaaS market during the forecast period, note analysts of a TMR review.
The video surveillance and VSaaS market is projected to gain profitable prospects in Asia Pacific during the forecast period. The growth of the Asia Pacific market is ascribed to increase in the infrastructure development activities and smart city projects in the region. This aside, surge in the utilization of next-gen video surveillance cameras across national security systems in nations such as South Korea, China, India, and Japan is driving the business opportunities in the Asia Pacific video surveillance and VSaaS market.
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Video Surveillance and VSaaS Market: Key Findings
- The popularity of video surveillance and VSaaS solutions is being increasing in the recent years owing to their ability to assist in the transportation systems management, monitor as well as secure public places, and advance the emergency response speeds. This aside, the government authorities of several nations are seen increasingly investing in the installation of such solutions across cities. Such factors are boosting business prospects in the market, note analysts of TMR report that provides thorough study on the marketing strategy for video surveillance and VSaaS market. Moreover, the market is being driven by rise in the urbanization across many developed and developing countries globally.
- The government authorities of several emerging economies as well as developed countries are focusing on the development of smart cities. Hence, the demand for video surveillance and VSaaS solutions is prognosticated to increase in the forthcoming years. This, in turn, is fueling the market growth, notes a TMR assessment that sheds light on the trends in the video surveillance and VSaaS market.
- The incorporation of technological advancements such as IoT and Artificial Intelligence (AI) in video surveillance and VSaaS solutions is leading to their improved operational performance. Moreover, such solutions are gaining traction owing to their ability to provide next-gen performance and quicker response to business organizations. Such factors are likely to play key role in the overall growth of the video surveillance and VSaaS market during the forecast period.
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Video Surveillance and VSaaS Market: Growth Boosters
- Increase in the number of smart cities globally is fueling the market demand for video surveillance and VSaaS
- Rise in the urbanization across developed and developing nations is bolstering the video surveillance and VSaaS market
- Surge in the demand for edge AI video surveillance and VSaaS solutions in order to achieve faster response and high performance is propelling the market
Video Surveillance and VSaaS Market: Key Players
Some of the key players profiled in the report are:
- Zhejiang Dahua Technology Co., Ltd.
- Hangzhou Hikvision Digital Technology Co., Ltd.
- Axis Communications AB
- Zhejiang Uniview Technologies Co., Ltd.
- Bosch Security Systems GmbH
- Honeywell International Inc.
- Avigilon Corporation
- Hanwha Techwin Co., Ltd.
- i-PRO Co., Ltd.
- Cisco Systems Inc.
- Motorola Solutions, Inc.
- Genetec Inc.
- Milestones Systems A/S
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Video Surveillance and VSaaS Market Segmentation
- Recorder & Storage Device
- Monitor & Display
- Video Management System
- Video Analytics
- Government Establishment
- North America
- Asia Pacific
- Middle East & Africa
- South America
About Transparency Market Research
Transparency Market Research registered at Wilmington, Delaware, United States, is a global market intelligence company provides syndicated research reports and business consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyze information.
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