Europe IP Video Surveillance & VSaaS Market By Product Type (Hardware - Camera, Monitor, Storage; Software - Video Analytics, Video Management System; Cloud Based Solution - Cloud Storage Vy Product Software, Cloud Storage By Deployment; Services - VSaaS, Integration Services), Application (Retail, Banking & Finance, Manufacturing & Corporate, Residential, Government, Healthcare, Casino & Entertainment)
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The Europe IP Video Surveillance & VSaaS Market is expected to grow at a CAGR of 29.5% during the forecast period (2017 - 2023). Europe is one of the major markets in terms of adoption of IP video surveillance & VSaaS. The major countries in the region are U.K, Germany, Italy, France, Spain and Russia. Russia has notable adoption rate with rising demand for IP surveillance system.
UK leads in the rate of adoption of Internet Protocol in small and medium-size businesses. As the small businesses are showing interest in IP technology in UK, it is expected that UK would experience a healthy rise in adoption for IP surveillance system. The terrorist attacks in the region have further added to the need for an effective surveillance system. The political stability in Russia and other European regions would also fuel the growth of IP Video Surveillance and VSaaS market. The adoption rate of Cloud-based solutions is higher in Europe, as it mitigates the storage cost for storing data, eventually leading to an increase in market share of IP surveillance system in this region.
The ongoing developments in communication networks in this region have also fueled the growth of the IP surveillance systems. The other drivers such as technological innovations, real-time access, integration of wireless technologies, video analytics, affordability of IP surveillance systems, and government initiatives have positively influenced the adoption of IP surveillance technology. However, lack of awareness, privacy concerns and hacking are some of the factors that have curtailed the adoption of IP surveillance system. Lack of technological awareness among the population and uncertainty in the government regulations is hindering the market growth to a certain extent.
The report segments the market based on the product type and application. The report covers the different application area for the IP surveillance system which includes retail, banking and financial institutes, government, Entertainment and Casino, Manufacturing and Corporate, Residential and Others. The others segment include IP surveillance application in a warehouse and educational institutes. The hardware devices are required for building the IP surveillance system includes IP cameras, monitors and storage devices. The different type of cloud-based solution includes product software and by deployment. The deployment of cloud solution could be done through one of the following which includes public, private and hybrid cloud. Further, the report categories the services market into two segments which include VSaaS and integration services.
The different types of VSaaS are hosted VSaaS, managed VSaaS and hybrid VSaaS. During the installation, integration services are required. Based on country, Europe IP Video Surveillance & VSaaS market is segmented into Germany, UK, France, Russia, Spain, Italy and Rest of Europe. The report covers the analysis of key stake holders of the IP Video Surveillance & VSaaS market. Key companies profiled in the report include Axis Communications AB, Panasonic Corporation, GeoVision Inc., Canon Inc. (Milestone Systems A/S), Robert Bosch GmbH, Avigilon Corporation, Genetec Inc., D-Link Corporation, Inc., Zhejiang Dahua Technology Co. Ltd. and Mobotix AG.