Noida, UP -- (SBWire) -- 04/15/2015 --Global CCTV market is undergoing dramatic change in recent years driven mainly by the high usage of Video Surveillance as a Service (VSaaS), which is an IT solution routed through the cloud for greater efficiencies with a number of features and flexibility. This solution radically alters the landscape of the on-site DVR/NVR and analog camera dominated video surveillance market. Increasing security concerns and recent spate in terrorist activities have forced governments around the world to invest in video surveillance technologies for homeland security. This has significantly boosted growth within the global video surveillance service market.
According to our latest report "CCTV Market Outlook 2020", emergence of data centers, IT cost containment by major corporate houses and need for centralized data and application management have become the key driver for Video Surveillance as a Service (VSaaS). In order to provide security and business advantages for multi-site organizations and warehouses, the government authorities and various players are exploring opportunities in this segment. This will further spur the global CCTV market. It is anticipated that, global CCTV market is expected to grow at a CAGR of more than 12% during 2015-2020.
The report provides comprehensive analysis and unbiased view of current status and future growth prospects of the global CCTV market. The research includes study of CCTV market by technology, components, services and regions. Besides that, the report provides a geographical picture of the CCTV market in five regions viz. North America, Europe, Asia, Latin America and Middle East. Additionally, through country level analysis, the report depicts the CCTV market in major countries like US, Canada, UK, China, India etc., which includes study of market size, player's level analysis, government initiatives and recent developments.
Further, the report includes the growth prospects of CCTV in retail, healthcare, education, transportation and banking sector. In the end, the report concludes with a competitive analysis of key market players, providing business overview of each player along with its key financials. In addition, it elucidates key developments of players related to video surveillance which enable clients to formulate market strategies and assess the opportunity areas in key geographies.
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Video Surveillance as a Service (VSaaS) Propelling the Global CCTV Market
The global CCTV market is expected to grow at a CAGR of more than 12% during 2015-2020, says RNCOS in its latest research report.