The world market for cloud based video surveillance, or video surveillance as a service (VSaaS), was estimated to be worth over $500 million in 2011 according to IMS Research. This is an increase of 25 percent from 2010.
Sam Grinter, Market Analyst with IMS Research said: “Growth in the VSaaS market is a result of increasing demand from consumer, small-to-medium businesses, and government end users.
“An increasing number of entrants to the market has accelerated growth of service development, marketing presence, and is also creating a more competitive environment.
“All of which means that VSaaS is set to grow significantly faster for 2012 onwards.”
Solutions in this market are developing but cost remains as a key inhibitor. The infrastructure cost required to provide a VSaaS solution remains expensive.
Also some video surveillance equipment vendors offer free remote monitoring through DVRs, NVRs and video management software. This service may prompt an end-user to upgrade existing hardware or software rather than opt for a VSaaS solution.
IMS Research
