Cloud based video surveillance is set for massive growth with the market already worth half a billion dollars and set to boom in the future.
It may be a less discussed application for cloud computing, but a report by IMS Research has shown that video surveillance as a service (VSaaS) is set to grow “significantly faster for 2012 onwards”.
The market was already worth $500 million in 2011, a 25 percent increase from the year before, and it looks like the cloud will be keeping an eye on us even more in the years to come.
Uses of VSaaS can include ‘integrated security systems’ with both on site and off site storage, accessed through remote monitoring, or even setting up “peace of mind” surveillance of to keep an eye on… “loved ones” as IMS puts it. All in all, from business to consumers to government, there is expected to be significant increases in surveillance over the coming years with VSaaS.
There are problems facing the growth of the industry, however, mainly as part of the recurring payment model that is usual with cloud services.
Monthly subscription fees cost between $5 and $30. This might not sound like a lot but the outlay on a traditional digital video recorder (DVR) system is less over time. This means that many customers are less inclined to move to a cloud based model, and IMS thinks the industry needs to find a lower price per camera.
If the industry is able to overcome these barriers then the market could break the $1 billion barrier by 2014.