Increase in speed of transition from analog to IP surveillance camera, rise in need of safety in high-risk areas, and advent of IoT in surveillance cameras have boosted the growth of the global IP video surveillance and VSaaS market. The market across North America held a significant share in 2018, contributing one-fourth of the market. On the other hand, the manufacturing segment is expected to register the fastest CAGR of 15.6% during the forecast period.

Portland, Feb. 19, 2020 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global IP video surveillance and VSaaS market accounted for $18.51 billion in 2018, and is projected to reach $52.98 billion in 2026, registering a CAGR of 12.9% from 2019 to 2026.

Increase in speed of transition from analog to IP surveillance camera, rise in need of safety in high-risk areas, and advent of IoT in surveillance cameras have boosted the growth of the global IP video surveillance and VSaaS market. However, high initial investment, large data storage problems, and lack of professional expertise in handling IP camera hamper the market growth. On the contrary, emerging trends toward the development of smart cities are expected to open new opportunities in the coming years.

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The global IP video surveillance and VSaaS market is divided on the basis of product type, application, and geography. Based on product type, the market is segmented into hardware, software, cloud-based solutions, and services. The services segment is anticipated to manifest the fastest CAGR of 15.4% during the forecast period. However, the hardware segment held the lion’s share in 2018, accounting for two-thirds of the market.

On the basis of application, the market is categorized into banking & financial sector, retail, government & higher security, manufacturing & corporate, residential, entertainment, healthcare and others. The manufacturing segment is expected to register the fastest CAGR of 15.6% during the forecast period. On the other hand, the banking & financial sector segment held the largest share in 2018, contributing to nearly one-fourth of the total revenue.

The global IP video surveillance and VSaaS market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific dominated in 2018, contributing to two-fifths of the market and is expected to portray the largest CAGR of 14.7% during the forecast period. On the other hand, the market across North America held a significant share in 2018, contributing one-fourth of the market.

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The global IP video surveillance and VSaaS market report includes an in-depth analysis of the major market players such as Panasonic, HKVISION, Ltd., D-Link Corporation, Axis Communication, Infinova, Bosch Security System, Honeywell Security Group, Dahua Technology, Mobotix AG, and Avigilon.

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