No, not at all. The good news is that we now have a new champion for the most outrageous projection, topping ABI's 2007 project of the video surveillance market being $46 Billion in 2013 (yes, that did not come true).
This new report, from Allied Market Research, is a joke. It's wildly beyond anything that anyone is projecting and is from a company who has zero track record in this market.
One really crazy element is this:
"Asia Pacific is expected to grow with highest CAGR 44.3% during analysis period 2013-2020."
To grow an average of 44.3% per year, every year for 7 years, means that market will increase by how much?
Need a calculator, try this. I'll leave the correct answer in the comments later. Bottom line, though, is that it is assuming growth far far beyond and far longer what anyone else is projecting or even wishing. It's essentially impossible.
Contrast to IMS, see our discussion on them here. At least, they have (very junior) people in the market, trying to get accurate and realistic numbers.
Bottom line, the only people who should use this $57.3 figure are vendors who want to impress the ignorant.
Correct answer for 44.3% per year, every year for 7 years is a 13x increase in size.
Let's assume Asia / Pacific is a $3 billion surveillance market today. By 2020, it would need to grow to $39 billion for the projection to be accurate. Even assume it is $2 billion today, it would still need to grow to $26 billion. That type of immense growth (for that long) is only possible for totally greenfield markets, where hardly anyone has any type of the product.
If you want to see another crazy CAGR / market size example, see: PSIM to be Worth $2.79 Billion? Tricks Exposed
Then what would be the realistic estimation on the VSaaS in the near future?
I am rather skeptical VSaaS in general, mainly due to the reason that there is no way ISP is letting this happen because of the liability on the network going offline, and the bandwidth consumption on their network backbone.
This figure is very important to our business and I went straight to Allied Market Research to challenge them about this figure. It was part of a thread on LinkedIn and they allowed me to reproduce their answer here. Tx for your feedback based on this.
The report published by Allied Market Research titled- IP Video Surveillance and VSaaS Market (Technologies, Applications, Services, Geography) - Industry Analysis, Trends, Share, Opportunities and Forecast, 2012 - 2020 provides information about growth potential of the market for global players and researchers. The report delivers key intelligence about future trends in IP surveillance market. Traditional surveillance systems are not competitive with respect to capabilities of flexibility and scalability and ultimately results into increasing cost of the systems. Moreover, the capacity of conventional storage device is also less. IP surveillance system eliminates the problem of flexibility and scalability due to its compatibility with existing infrastructure of the companies. Additionally, the storage capacity of the cloud based solutions currently used in IP surveillance systems is comparatively high. IP surveillance system delivers system intelligence facility with the help of video analytics and video management software. Requirement of higher bandwidth to transfer HD real time data and cost of IP camera are acting as restraints to increase adoption of IP surveillance. This report segments the IP surveillance market based on products, applications and geographies. This report encapsulates company profiles of ten leading companies dealing in IP Surveillance systems namely, Avigilon Corporation, Axis Communication AB, D-Link Corporation, Genetec, March Networks, Milestone Systems, Panasonic Corporation, Mobotix AG, GeoVision Inc. and Arecont Vision."