Video Surveillance As A Service (VSaaS) Market 2024-2033: Global Outlook, Industry Share, Latest Trends And Major Players

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.

Market Overview -
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.

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Smart City Development Fuels Growth In Video Surveillance As A Service (VSAAS) Market
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.

Competitive Landscape -
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.

Cloud-Based VSaaS Solution For Enhancing Security
Major companies in the video surveillance as a service (VSaaS) market are focused on developing cloud-based VSaaS solutions that utilize AI, such as edge AI analytics, to enhance security and gain a competitive edge in the market. Edge AI analytics refers to the processing and analysis of data directly on a local device or sensor, enabling real-time insights and decision-making without reliance on centralized cloud servers. For instance, in August 2022, VIVOTEK, a Taiwan-based IP surveillance solution provider, launched VORTEX, a cloud-based Video Surveillance as a Service (VSaaS) solution. VORTEX integrates camera, app, web, cloud, and deep learning technology to offer a cohesive AI surveillance solution. VORTEX features a hybrid cloud architecture, enabling storage and analysis directly within the camera, reducing time, cost, and bandwidth limitations. The solution offers a wide camera selection, crystal-clear image quality, edge AI analytics, and hassle-free configuration for Small and Medium-sized Business (SMB) expansion.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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