South Africa IP Video Surveillance and VSaaS Market Set to Boom Amid Growing Urbanization and Security Needs

South Africa's IP Video Surveillance Market Forecast: Trends, Challenges, and Opportunities (2013-2020)

WILMINGTON, DE, UNITED STATES, December 5, 2024 /EINPresswire.com/ -- The revenue from the sales of hardware accounted for nearly 60%, whereas the cloud services, software, and other services segment accounted for around 40% of the revenue in 2013. Cloud-based solutions are expected to witness tremendous growth opportunities in the future as they reduce the total cost of ownership for customers. The manufacturing and corporate sector is expected to grow at the fastest CAGR during the forecast period. The residential and healthcare sectors are other key application areas that are expected to evolve as huge markets for IP surveillance during the forecast period. In the year 2012, revenue from the sales of analog IP surveillance hardware sales surpassed the revenue from the sales of analog devices. South Africa IP Video Surveillance and VSaaS Market Report, published by Allied Market Research, forecasts that the South African market is expected to garner $51.8 million by 2020, registering a CAGR of 16.1% during 2014-2020.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/627

The video surveillance equipment market in South Africa largest among all other countries in Africa. With the growing technological advancements in the country, IP surveillance is gaining a foothold, however, analog systems would maintain their presence through the forecast period due to their cost-effectiveness and huge install base in various sectors. As the surveillance industry is in the developing stage in the country IP surveillance market will witness incremental growth in South Africa, during the forecast period.

Hardware is the key product required for the installation of an IP video surveillance system. With the rising number of new installations and updating the existing analog systems, hardware sales are expected to witness a boost in the initial years of adoption. The software segment would also follow suit, but due to its lower revenue ratio in a surveillance system, its market size would remain comparatively low. The rising number of new IP surveillance system installations in the country would continue to drive the sales of associated software.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/627

Though cloud technology has been a feasible and low-cost technology in most 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 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 will witness considerable growth during the forecast period.

The existing analog surveillance systems installed at residential buildings in the country would witness the 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 a 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 security solution vendors. Now, it has become a tough task for 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.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/627

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports consider significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on analyzing high-tech and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Market Research
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