The Video Surveillance As A Service (VSaaS) Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Video Surveillance As A Service (VSaaS) Global Market Report 2024, The video surveillance as a service (VSaaS) market size has grown rapidly in recent years. It will grow from $3.97 billion in 2023 to $4.56 billion in 2024 at a compound annual growth rate (CAGR) of 14.9%. The growth in the historic period can be attributed to cost-efficiency, remote monitoring and accessibility, scalability and flexibility, integration with other systems, reduced maintenance overheads.
The video surveillance as a service (VSaaS) market size is expected to see rapid growth in the next few years. It will grow to $8.44 billion in 2028 at a compound annual growth rate (CAGR) of 16.6%. The growth in the forecast period can be attributed to increased emphasis on data security, remote workforce monitoring, focus on vertical-specific solutions. Major trends in the forecast period include integration with Internet of things (IoT), subscription-based service models, high-resolution and megapixel cameras, data storage and management solutions.
The development of smart cities is expected to propel the growth of the video surveillance as a service (VSaaS) market in the coming years. A smart city employs information and communication technology (ICT) to boost operational performance, exchange data with the public, and enhance government service and resident protection. Governments all over the world have lofty goals for making communities smarter and better for people and travelers. Smart cities are implementing intelligent video monitoring to help emergency responders respond more quickly in real-time or to detect and handle possible accidents to minimize crime. For instance, in August 2023, according to the Press Information Bureau (PIB), an India-based nodal agency of the Government of India, 100 Smart Cities issued work orders for a total of 7,978 projects, out of which 5,909 projects (74%) have been completed. An amount of ₹73,454 crore ($0.8 billion) was allocated for these Smart Cities, with 90% having been effectively utilized so far. Therefore, the development of smart cities drives the video surveillance as a service (VSaaS) market growth.
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The video surveillance as a service (VSaaS) market covered in this report is segmented –
1) By Type: IP-Based, Analog
2) By Service: Managed, Hybrid, Hosted
3) By End User: Industrial, Residential, Military and Defense, Institutional, Public Facilities, Commercial, Other End Users
Major companies in the video surveillance as a service (VSaaS) market are focused on developing advanced versions of platforms, such as video API platforms, to empower developers in cloud video surveillance and gain a competitive edge in the market. A Video API platform is a software interface that enables developers to integrate and interact with video surveillance functionalities, facilitating the creation of custom applications and solutions. For instance, in September 2023, Eagle Eye Networks, a US-based video surveillance company, launched V3 of its Video API Platform, a comprehensive and faster implementation tool for video applications by developers. The open platform, with extensive RESTful API and camera support, aims to facilitate the easy creation of applications leveraging cloud video surveillance. The new API, building upon V1 and V2 foundations, incorporates feedback, requests, and large customer requirements, offering enhanced capabilities for video analytics, AI, and scale. Eagle Eye recommends new development on API V3 for organizations using its Video API Platform for cloud-based surveillance solutions and AI integration.
The video surveillance as a service (vsaas) market report table of contents includes:
1. Executive Summary
- Video Surveillance As A Service (VSaaS) Market Characteristics
- Video Surveillance As A Service (VSaaS) Market Trends And Strategies
- Video Surveillance As A Service (VSaaS) Market – Macro Economic Scenario
- Global Video Surveillance As A Service (VSaaS) Market Size and Growth
. - Global Video Surveillance As A Service (VSaaS) Market Competitive Benchmarking
- Global Video Surveillance As A Service (VSaaS) Market Competitive Dashboard
- Key Mergers And Acquisitions In The Video Surveillance As A Service (VSaaS) Market
- Video Surveillance As A Service (VSaaS) Market Future Outlook and Potential Analysis
- Appendix
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