IP, cloud based surveillance to soar

cloud 1A study by a market research  company indicates that global sales of IP based video devices will grow by a CAGR of 24.2 percent between 2013 and 2019.

The report, from Transparency Market Research, surveys the entire sector worldwide.  And IP based devices with better video quality are playing their part in the growth.

The research shows that breaking the market down by components, hardware was valued at $9.49 billion in 2012, and forecast to grow at a CAGR of 17.3 percent between 2013 and 2019.

While recorders and storage accounted for 37 percent of the total hardware market, that segment will lose share because of the growth of cloud based storage – video surveillance as a service – VSaaS.