The video-surveillance-as-a-service market is forecast to increase at a compounded annual growth rate of 28.1 percent during the period 2012-2016, according to a report by TechNavio, a market-research firm.
The report — Global Video Surveillance as a Service Market 2012-2016 – said while an increasing demand for video surveillance for security purposes is contributing to the market growth of global VSaaS, monitoring the activities occurring at users’ facilities is becoming as important as security requirements and is spurring the growth of VSaaS.
However, the initial cost of installing video-surveillance infrastructure could pose a challenge to the growth of the VSaaS market, said the report, which covers North America; Europe, the Middle East and Africa; and Asia and the Pacific regions.
A trend among users of VSaaS systems is to use video-analytics software to analyze video within designated parameters, TechNavio said. For example, facial-recognition software can be used to identify certain individuals/employees and count the number of trips those individuals make to specific areas, according to the research firm. By documenting the number of trips an employee makes to a particular area — and their duration — the data can be used to measure the productivity of the employee, the researcher said.
Click here to access the report summary.