Research Indicates Large Growth in IP Video Markets

Garrett Savage

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On January 5th In IP Solutions, IP Surveillance Video, System Sales Tips & Marketing Concepts, Video Surveillance
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A recent market research study published by Transparency Market Research predicts huge growth potential for the global video surveillance and Video Systems as a Service (VSaaS) market. The report titled, Video Surveillance and VSaaS Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020,” attributes the lift in the market due to increasing concerns for private and public safety. Data compiled in the study points to a market increase of 18.1% Compound Annual Growth Rate (CAGR), with the market increasing from US$14.98 billion in 2013 to US$48.32 billion by the year 2020. Additionally, the market for IP-based video surveillance is expected to leap by 23.3% CAGR as well.

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The report breaks the global video surveillance and VSaaS market into two segments, hardware and software, with hardware taking a dominant 87% of the market in 2013. In a sub-segment, video cameras accounted for nearly 34% of the market share in 2013 on the hardware side.

Driving this predicted growth is the increasing need for high quality video images, efficient video analytic systems, and cloud-based VSaaS systems. This means key sales opportunities will be found in market segments such as city surveillance, highways, stadiums, healthcare, public transportation, and also in residential applications.

The report also states that the growth in the global video surveillance and VSaaS market can be credited to a good number of partnerships and business acquisitions in the last few years. The industry has also seen a huge investment in product development, with the advent of new, technologically advanced products at a swift pace

From this report it appears that our industry can expect increased growth in sales for the foreseeable future.  What can also be gleaned here is that quality of video images, storage capabilities, and analytic capabilities will be vital touch points for sales in coming years.  If you are a system integrator, it would be to your benefit to consider how current IP video surveillance offerings can be installed to provide the highest quality images and user interfacing capabilities.

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