Overview and Scope
Video Surveillance as a Service, or VSaaS, is a cloud-based security system that allows users to access their Internet Protocol (IP) cameras from anywhere through any computer and have access to surveillance video conveniently.
Sizing and Forecast
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.
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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the video surveillance as a service (VSaaS) market in 2023. The regions covered in the video surveillance as a service (vsaas) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the video surveillance as a service (VSaaS) market report are Cisco Systems Inc., Honeywell International Inc., Johnson Controls International plc, Hikvision Digital Technology Co Ltd., ADT Security Services Inc., Bosch Security Systems GmbH, Alarm.com, Axis Communications AB, Avigilon A Motorola Solutions Company, Verint Systems Inc., VIVOTEK Inc., Genetec Inc., Pelco, Eagle Eye Networks Inc., Brivo Systems Inc., Salient Systems Inc., Mobotix AG, Ozvision Inc., March Networks Corp, IndigoVision Group plc, CameraFTP Service, Timetec Cloud Sdn Bhd, 3xLOGIC Inc., MIRASYS Inc., Duranc Inc., Camcloud Inc., Cloudastructure Inc., Hanwha Techwin Co Ltd., IVIDEON Inc., Pacific Control Systems LLC, Panasonic Corporation, Securitas AB, Stanley Black & Decker Inc., Verkada Inc.
The video surveillance as a service (vsaas) market report table of contents includes:
1. Executive Summary
2. Video Surveillance As A Service (VSaaS) Market Characteristics
3. Video Surveillance As A Service (VSaaS) Market Trends And Strategies
4. Video Surveillance As A Service (VSaaS) Market – Macro Economic Scenario
5. Global Video Surveillance As A Service (VSaaS) Market Size and Growth
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32. Global Video Surveillance As A Service (VSaaS) Market Competitive Benchmarking
33. Global Video Surveillance As A Service (VSaaS) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Video Surveillance As A Service (VSaaS) Market
35. Video Surveillance As A Service (VSaaS) Market Future Outlook and Potential Analysis
36. Appendix
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