Global Video Surveillance as a Service Market Size, Industry Shares, Global Growth and Forecast Report, 2030

According to the latest market research study published by P&S Intelligence, the global video surveillance as a service (VSaaS) market is projected to experience significant growth, with an estimated size of USD 5.5 billion in 2024, advancing at a compound annual growth rate (CAGR) of 15.8% to reach USD 13.3 billion by 2030.

This robust expansion is driven by the increasing adoption of cloud-based services, advancements in smart camera technologies, and the rising need for efficient and scalable surveillance solutions across various sectors. The integration of in-band analytics and smart sensors has enhanced the capabilities of video surveillance systems, making VSaaS a more attractive option for businesses aiming to automate operations and reduce reliance on extensive personnel.

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Key Insights

Segmentation Analysis

By Type

The VSaaS market is categorized into hosted, managed, and hybrid services. The hybrid segment is expected to witness the highest growth rate, with a CAGR of 17% during the forecast period. This growth is attributed to the combined benefits of managed video services and on-premises video recording, addressing data security concerns by storing footage both locally and on the cloud.

By Vertical

The BFSI (Banking, Financial Services, and Insurance) sector holds the largest market share, driven by the critical need for security and surveillance in financial institutions. Other significant sectors include manufacturing & corporate, residential, government & security, retail, and healthcare, each adopting VSaaS solutions to enhance security measures and operational efficiency.

Regional and Geographical Trends

This region dominates the VSaaS market, accounting for a 40% revenue share in 2024. Factors such as rising crime rates, growing terrorism threats, and government initiatives to implement advanced monitoring systems in public areas and government buildings contribute to this dominance. In the U.S., businesses like hotels, restaurants, and office complexes are common users of VSaaS, supported by government programs to install advanced surveillance systems.

APAC is the fastest-growing region, with a projected CAGR of 9.7% from 2024 to 2030. This growth is due to rapid urbanization, technological advancements, and increasing security concerns. Countries such as India, China, and Japan are leading in infrastructure development and smart city projects, boosting the demand for enhanced surveillance solutions.

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Technological Advancements Shaping the Market

Cloud-Based Solutions

The surveillance industry is witnessing a rapid increase in the acceptance of cloud-based VSaaS solutions. Advancements in cloud computing and increased bandwidth availability make cloud deployment appealing to end-users and lucrative for vendors. Benefits include ease of access for security monitoring teams, prevention of evidence tampering, and faster response times.

Smart Cameras and In-Band Analytics

The emergence of smart cameras equipped with various sensors has led to a shift toward in-band analytics, enhancing the functionality of video surveillance systems. This integration allows for automated operations, reducing the need for extensive personnel and paving the way for VSaaS to gain prominence as a service option.

Competitive Dynamics, Major Players, and Emerging Opportunities

Key Players: Major companies in the VSaaS market include IBM Corporation, Axis Communications AB, Cisco Systems Inc., and Honeywell International Inc. These companies are actively investing in research and development to upgrade their systems and technologies, meeting the increasing demand for video surveillance solutions.

Emerging Opportunities: The growing incidence of security breaches and unauthorized access in homes and critical infrastructures is a significant driver for the VSaaS market. For instance, in 2022, 847,522 burglaries were reported to the FBI in the U.S. Additionally, companies worldwide lost 5.7% of their annual revenue due to vandalism and thefts in 2023. These challenges present substantial opportunities for the adoption of advanced VSaaS solutions to enhance security measures across various sectors.

The VSaaS market is poised for substantial growth, driven by technological advancements, increasing security concerns, and the adoption of cloud-based solutions. As businesses and governments prioritize efficient and scalable surveillance systems, the demand for VSaaS is expected to rise, offering significant opportunities for industry players and stakeholders.

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