The global video surveillance as a service (VSaaS) market is expected to grow at a CAGR of more than 27 percent through 2021, according to the latest market study released by Technavio.
The market size of the video surveillance as a service sector is expected to grow to USD 3.43 billion by 2021. A massive 120 percent incremental growth is estimated to originate from the Americas through the forecast period.
Owing to increasing demand for high-tech technologies in the video surveillance market, India will witness a boost in the surveillance adaptation rate in years to come, according to a report by the Smart Cities Council (SCC) and National Institute of Urban Affairs (NIUA) along with US-based data storage company Western Digital.
“With the growth of public infrastructure on a constant rise, accompanied with increasing IT and security spending, the surveillance sector is expected to witness a robust growth in India,” Khwaja Saifuddin, Senior Sales Director-South Asia, Middle East and Africa at Western Digital, said in a statement.
The report titled “Role of Surveillance in Securing Cities” provides an analysis on opportunities, challenges and the current scenario for video surveillance in India and provides recommendations for creating a safer and securer environment.
Elsewhere in India, Sterlite Technologies has won the Jaipur Smart City Phase-II project. The project, slated for completion within six months from the date of contract, is under implementation.
The project will boost the heritage tourism industry and bring smarter living experience to the citizens.
Jaipur, the Pink City, was selected under the Smart City Mission of Ministry of Urban Development launched in 2015. This is Sterlite’s second smart city project win.
The scope of the project includes setting up citizen services kiosks with environmental sensors and Interactive Information Kiosks, Wi-Fi network extension, video surveillance for public safety and security at key locations.