Video Surveillance As A Service (VSaaS) Market on Track for Strong Growth, Estimated to Grow at 19% CAGR Through 2029

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What Will the Video Surveillance As A Service (VSaaS) Industry Market Size Be by 2025?
In recent times, there has been a significant expansion in the size of the video surveillance as a service (VSaaS) market. It is predicted to swell from $4.47 billion in 2024 to $5.08 billion in 2025, presenting a compound annual growth rate (CAGR) of 13.7%. The expansion during this historical period can be attributed to the benefits such as cost-efficiency, the facility for remote monitoring and access, scalability and flexibility, and the ability to integrate with other systems, as well as decreased maintenance costs.

What's the Long-Term Growth Forecast for the Video Surveillance As A Service (VSaaS) Market Size Through 2029?
The market size for video surveillance as a service (VSaaS) is anticipated to experience a quick expansion in the forthcoming years, inflating to $10.17 billion in 2029 at a compound annual growth rate (CAGR) of 19.0%. The surge in growth during the predicted period can be ascribed to the heightened focus on data protection, monitoring of remote workers, and sector-specific solutions. Prominent trends expected during this period entail the integration with the Internet of Things (IoT), subscription-driven service formats, superior resolution and megapixel cameras, alongside data storage and management solutions.

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What Are the Key Growth Drivers Fueling the Video Surveillance As A Service (VSaaS) Market Expansion?
The surge in smart city developments is anticipated to spur the progression of the video surveillance as a service (VSaaS) market in upcoming years. Smart cities utilize information and communication technology (ICT) to amplify operational efficacy, share data with the public, and improve governmental services and citizen safety. Governments worldwide carry ambitious plans to transform communities into smarter and more convenient places for inhabitants and visitors. Smart cities are incorporating advanced video surveillance to accelerate emergency responses in real-time or to anticipate and manage potential incidents to curb crime. Case in point, in August 2023, the Press Information Bureau (PIB), an Indian government nodal agency, announced that 100 Smart Cities had issued work orders for 7,978 projects, of which 5,909 projects (74%) have been accomplished. An estimated ?73,454 crore ($0.8 billion) was earmarked for these Smart Cities, of which 90% has been effectively put to use till now. Hence, the evolution of smart cities propels the growth of the video surveillance as a service (VSaaS) market.

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What Are the Key Trends Driving Video Surveillance As A Service (VSaaS) Market Growth?
Leading players in the video surveillance as a service (VSaaS) market are prioritizing the development of cloud-based VSaaS solutions powered by AI, such as edge AI analytics, to boost security and maintain a competitive advantage. Edge AI analytics is the process of analyzing data directly on a local device or sensor, providing real-time insights and decisions without dependence on centralized cloud servers. For example, in August 2022, VIVOTEK, a Taiwan-based provider of IP surveillance solutions, unveiled VORTEX, a cloud-based VSaaS solution. VORTEX combines camera, app, web, cloud, and deep learning technology to deliver a comprehensive AI surveillance solution. Its hybrid cloud architecture allows for storage and analysis directly within the camera, cutting down on time, cost, and bandwidth constraints. The solution comes with varied camera options, exceptional image clarity, edge AI analytics, and a straightforward configuration process, ideal for Small and Medium-sized Business (SMB) expansion.

How Is the Video Surveillance As A Service (VSaaS) Market Segmented?
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

Subsegments:
1) By IP-Based: Cloud-Based IP Surveillance, On-Premises IP Surveillance
2) By Analog: Traditional Analog Cameras, Hybrid Systems (Analog And IP)

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Which Companies Are Leading the Charge in Video Surveillance As A Service (VSaaS) Market Innovation?
Major companies operating in the video surveillance as a service (VSaaS) market include 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.

Which Regions Are Leading the Global Video Surveillance As A Service (VSaaS) Market in Revenue?
Asia-Pacific was the largest region in the video surveillance as a service (VSaaS) market in 2024. 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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