South African IP Surveillance and VSaaS Market is Expected to Reach $51.8 Million, by 2020 - Allied Market Research.
The video surveillance equipment market in South Africa is largest among all other countries in Africa. With the growing technological advancements in the country, IP surveillance is gaining foothold, however, analog systems would maintain its presence through the forecast period due its cost effectiveness and huge install base in various sectors. As the surveillance industry is in developing stage in the country IP surveillance market would witness incremental growth in South Africa, during the forecast period.
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Hardware are the key products required for the installation of IP video surveillance system. With rising number of new installations and updating the existing analog systems, the hardware sales are expected to witness a boost in the initial years of adoption. Software segment would also follow the suit, but due to its lower revenue ratio in a surveillance system, its market size would remain comparatively low. Rising number of new IP surveillance system installations in the country would continue to drive the sales of associated software.
Though cloud technology has been a feasible and low-cost technology in most of the countries, specifically due to lower initial investment, this technology is yet to gain prominence in South Africa. Cloud-based solutions would gain importance in the country with the increasing penetration of cloud services in various industries. In the current scenario, cloud service providers are charging high prices so as to recover their initial R&D investments. These factors collectively act in congruency to limit the adoption of cloud-based surveillance in the current scenario. However, with growing awareness and price reduction, cloud-based surveillance would witness considerable growth during the forecast period.
The existing analog surveillance systems installed at residential buildings in the country would witness threat of replacement from IP surveillance systems in the coming years. However, the replacement of analog with IP would be comparatively slower in this sector. As analog surveillance systems are low cost and easy to install, small security professionals prefer these systems and high number of such cameras are being installed in the country every year. Due to the considerable price difference between analog and IP surveillance systems, the former is often preferred by the security solution vendors. Now, it has become a tough task for the IP device manufacturers to convince the installers to switch to IP surveillance. Nevertheless, commercial and government sectors are gaining prominence in the South Africa IP surveillance market.
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Read the full story here: http://www.pr.com/press-release/609313
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|Publication:||PR.com (Press Releases)|
|Date:||Mar 11, 2015|
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