The global Video Surveillance-as-a-Service (VSaaS) market is expected to grow at a CAGR of 28% during the period 2016-2020.
The adoption of VSaaS can benefit companies in multiple ways as it provides advantages like pay-per-use, low initial investment and maintenance, easy deployment, and instant access.
VSaaS is currently in high demand among companies of all sizes as well as among governments of many countries. Due to low entry barriers, a large number of vendors are entering the VSaaS market.
The global VSaaS market is expected to experience significant growth because of certain trends that are likely to have a positive influence on the market.
One such trend is the emergence of edge-based video surveillance, which offers high-resolution imaging at low costs. The edge-based surveillance systems have inbuilt camera storage and processing systems that reduce the overall cost of video surveillance.
According to the report, a number of vendors offer cameras with the capability of creating high-definition imaging. A clear image captured by surveillance cameras enables a perfect view of the areas under surveillance, and this can be used to identify and catch criminals. It can also track the movement of individuals on the premises. As a result, high-resolution imaging is driving the market.
Further, the report states that the high cost of implementing the solution is one of the major challenges of this market.