Research: VsaaS Market Set to Double Over Next Three Years

  • Mar 21, 2012

IMS Research estimates that the world market for cloud based video surveillance, or video surveillance as a service (VSaaS), was worth over $500 million in 2011, an increase of 25 percent from 2010. However, the big question is what does the future hold for this emerging market?

Sam Grinter, market analyst with IMS Research comments that, “Growth in the VSaaS market is a result of increasing demand from consumer, small-to-medium businesses, and government end users. Also, an increasing number of entrants to the market has accelerated growth of service development, marketing presence, and is also creating a more competitive environment. All of which means that VSaaS is set to grow significantly faster for 2012 onwards.”

VSaaS solutions can include: self monitoring, real time alerts, integrated analytics, and off-site storage. Because of the large feature set of VSaaS solutions, it can be used for a number of applications. Examples of VSaaS deployments range from integrated security systems incorporating on-site and off-site storage and remote video monitoring by a central station, to the ‘peace of mind’ one to four camera solutions for keeping an eye on loved ones.

While VSaaS solutions are clearly developing, a key inhibitor of the VSaaS market remains price. The infrastructure cost required to provide a VSaaS solution remains relatively expensive, with monthly camera subscriptions costing between $5 and $30 depending on the level of service and the inclusion of hardware. While this sounds inexpensive compared to the initial capital expenditure for a DVR, over time this will generate a considerable cost for the end user. Furthermore, some video surveillance equipment vendors offer free remote monitoring through DVRs, NVRs and video management software. This service may prompt an end-user to upgrade existing hardware or software rather than opt for a VSaaS solution.

Grinter continues, “For VSaaS to become more widely adopted, the market needs to resolve a number of barriers. For consumers and commercial users, the price per camera needs to drop significantly and installation must be simpler. Additional requirements for commercial users include new features and technologies, such as business intelligence functions, that increase the return on investment of using a VSaaS solution.”

Preliminary findings from the 2012 edition of the VSaaS report indicate that the VSaaS market has even stronger growth prospects than originally predicted. However, a key factor that will determine the success of the market will be the VSaaS providers ability to overcome the previously stated product barriers. If VSaaS providers are successful in overcoming these barriers, IMS Research predicts that the world market could exceed $1 billion by 2014.

Featured

  • Achieving Clear Audio

    In today’s ever-changing world of security and risk management, effective communication via an intercom and door entry communication system is a critical communication tool to keep a facility’s staff, visitors and vendors safe. Read Now

  • Beyond Apps: Access Control for Today’s Residents

    The modern resident lives in an app-saturated world. From banking to grocery delivery, fitness tracking to ridesharing, nearly every service demands another download. But when it comes to accessing the place you live, most people do not want to clutter their phone with yet another app, especially if its only purpose is to open a door. Read Now

  • Survey: 48 Percent of Worshippers Feel Less Safe Attending In-Person Services

    Almost half (48%) of those who attend religious services say they feel less safe attending in-person due to rising acts of violence at places of worship. In fact, 39% report these safety concerns have led them to change how often they attend in-person services, according to new research from Verkada conducted online by The Harris Poll among 1,123 U.S. adults who attend a religious service or event at least once a month. Read Now

  • AI Used as Part of Sophisticated Espionage Campaign

    A cybersecurity inflection point has been reached in which AI models has become genuinely useful in cybersecurity operation. But to no surprise, they can used for both good works and ill will. Systemic evaluations show cyber capabilities double in six months, and they have been tracking real-world cyberattacks showing how malicious actors were using AI capabilities. These capabilities were predicted and are expected to evolve, but what stood out for researchers was how quickly they have done so, at scale. Read Now

  • Why the Future of Video Security Is Happening Outside the Cloud

    For years, the cloud has captivated the physical security industry. And for good reasons. Remote access, elastic scalability and simplified maintenance reshaped how we think about deploying and managing systems. Read Now

Most   Popular

New Products

  • EasyGate SPT and SPD

    EasyGate SPT SPD

    Security solutions do not have to be ordinary, let alone unattractive. Having renewed their best-selling speed gates, Cominfo has once again demonstrated their Art of Security philosophy in practice — and confirmed their position as an industry-leading manufacturers of premium speed gates and turnstiles.

  • 4K Video Decoder

    3xLOGIC’s VH-DECODER-4K is perfect for use in organizations of all sizes in diverse vertical sectors such as retail, leisure and hospitality, education and commercial premises.

  • QCS7230 System-on-Chip (SoC)

    QCS7230 System-on-Chip (SoC)

    The latest Qualcomm® Vision Intelligence Platform offers next-generation smart camera IoT solutions to improve safety and security across enterprises, cities and spaces. The Vision Intelligence Platform was expanded in March 2022 with the introduction of the QCS7230 System-on-Chip (SoC), which delivers superior artificial intelligence (AI) inferencing at the edge.