Wellingborough, UK, 30 October 2012; Video surveillance as a service (VSaaS) must provide more for less – a key takeaway from this year’s MVaaS Summit hosted by Envysion, and held in Boulder Colo., U.S. from the 7th to the 9th of October.
IMS Research Market Analyst Sam Grinter attended the Summit and states, “A VSaaS solution must return on the initial investment as soon as possible by incorporating multiple applications and functions to add value over a ‘traditional’ video surveillance system.”
Return on investment is achieved through limiting employee shrinkage, providing evidence to counter fraudulent claims, and generally increasing operational efficiency. A VSaaS solution can integrate with existing security cameras and typically costs between $125 and $200 per site per month depending on the number of security cameras. A key feature of a VSaaS solution is that security cameras can be accessed and managed remotely through an internet browser or tablet.
In a recently published report by IMS Research (acquired by IHS (NYSE: IHS)), titled The World Market for Video Surveillance as a Service (VSaaS) – 2012 Edition, the Americas VSaaS market for small-to-medium sized businesses (SMB) was estimated to be worth less than $50 million. Considering providers in the market have been active since 2000, growth and uptake of VSaaS has been limited, something is holding back mass adoption of VSaaS solutions in the SMB market.
Grinter continues, “The on-going service cost and lack of knowledge of the potential benefits of VSaaS on the customers behalf, has limited growth. A VSaaS provider must justify why a company should invest in their VSaaS solution. Demonstrations and trial deployments have proved effective strategies for introducing new customers to VSaaS.”
If a VSaaS provider can combine multiple applications within their solution, such as remote access to the video with an integrated point of sale solution or other video driven business data system; the system could be used by both a marketing manager and a loss prevention manager. This enables the VSaaS solution to be paid for from both the marketing and loss prevention budget.
Grinter concludes, “Increasing the functionality of a ’traditional’ video system not only extends the application of the solution, but also spreads the cost of the service for the customer. This makes the entire solution a more attractive proposition. If more VSaaS providers follow this strategy the adoption of VSaaS in the SMB market could grow quickly over the next five years.”
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About The World Market for Video Surveillance as a Service (VSaaS) – 2012 Edition report.
This report is a comprehensive guide to the VSaaS market as it stands today, as well as how it is forecast to change up to 2020. With equal emphasis placed on quantitative analysis and qualitative discussion, this report offers insight into an emerging and exciting market.
For more details please see: http://www.securitymarketintelligence.com/areas/technology_reports
About IHS (www.ihs.com)
IHS (NYSE: IHS) is the leading source of information, insight and analytics in critical areas that shape today’s business landscape. Businesses and governments in more than 165 countries around the globe rely on the comprehensive content, expert independent analysis and flexible delivery methods of IHS to make high-impact decisions and develop strategies with speed and confidence. IHS has been in business since 1959 and became a publicly traded company on the New York Stock Exchange in 2005. Headquartered in Englewood, Colorado, USA, IHS is committed to long-term, sustainable growth and employs more than 6,000 people in more than 30 countries around the world.
About IMS Research (www.imsresearch.com)
IMS Research, recently acquired by IHS (NYSE: IHS), is a leading supplier of market research and consultancy to over 2500 clients worldwide, including most of the world’s largest technology companies. Established in the UK in 1989, IMS Research now has dedicated analyst teams focused on the factory automation, automotive, communications, computer, consumer, display, financial & ID, LED & lighting, medical, power & energy, solar PV, smart grid and security markets. Currently publishing over 350 different syndicated report titles each year, these in-depth publications are used by major electronics and industrial companies to assess market trends, solve marketing problems, and improve the efficiency of their businesses.
