Video Surveillance market is expected to be worth $71.28 Billion by 2022, growing at an estimated CAGR of 16.56%.
The market for the service segment is expected to grow at the highest CAGR between 2016 and 2022. Cloud services and video surveillance as a service (VSaaS) play an important role in the video surveillance system.
Software components include video analytics and video management software. Also, the use of neural networks and algorithms in the biometric surveillance system is a part of software component. The advancement in software technologies and networking services would lead the video surveillance market.
Great stats here and time has shown that your predictions were correct. The sector is continuing to see huge growth thanks to the widespread adoption of video surveillance and VSaaS.