The global IP Video Surveillance and VSaaS market is expected to reach $57.3 billion by 2020. North America is expected to experience the highest share in the IP Surveillance market by 2020. Asia Pacific is expected to grow with the highest CAGR, 44.3%, during the analysis period 2013-2020. North America will be the highest revenue generating segment, with a value of $18,741.6 million in 2020.
The IP Surveillance market is undergoing an evolutionary phase in developing countries, therefore promising significant growth potential. In the case of developed countries, analogue surveillance systems are being actively replaced by IP surveillance systems. Increasing awareness regarding the benefits of IP-based surveillance systems, favorable regulatory impositions and rising security concern are the key factors expected to catalyze the growth of the IP Surveillance market during the forecast period. The penetration of the Internet Protocol in surveillance has created a long-lasting impact on the overall surveillance industry.
"IP Surveillance systems are widely accepted in developed markets, and the adoption rate is expected to increase in developing markets such as Asia-Pacific," states AMR analyst Bryan Olson. Government and higher security segments are expected to adopt IP surveillance systems at a faster pace during the analysis period, growing at a CAGR of 39.2% from 2013 to 2020. Banking and financial institutions are expected to be the highest revenue generating segments within the application market. The IP surveillance hardware market is expected to be the highest revenue-generating segment with estimated revenues of $24.3 billion by 2020.
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