DUBLIN, Oct. 18, 2022 /PRNewswire/ — The “Video Surveillance Market by Offering (Hardware (Camera, Storage Device, Monitor), Software (Video Analytics, VMS), Service (VSaaS)), System (IP, Analog, Hybrid), Vertical and Geography (North America, EuropeAPAC, RoW) – Global Forecast to 2027″ report has been added to ResearchAndMarkets.com’s offering.
The video surveillance market is expected to grow from USD 48.7 billion in 2022 and is projected to reach USD 76.4 billion by 2027; it is expected to grow at a CAGR of 9.4% during the forecast period. IoT has made sending and receiving data over the internet simpler, facilitating the use of video surveillance in smart cities. Integration of IoT, big data, and video surveillance is expected to provide better operational and security needs in public spaces.
The market for video surveillance services has the highest CAGR during the forecast period.
Modern VMS has integration capabilities for various software applications, such as people counting, facial recognition, and number plate recognition. Real-time video analytics can provide important insights on events or activities across several verticals. Various cloud capabilities fulfill the varying requirements of end users , hence driving the high growth in the video surveillance service market, especially for VSaaS. In cloud implementation, VMS solutions are accessed via the internet and hosted by third-party VMS providers. Video recording, controlling, and management are performed by the cloud. VSaaS is…