Video Surveillance as a Service (VSaaS) Market is segmented By Component (Hardware, Software, and Services), By Product (IP-Based and Analog), By Application (Residential, Retail, Transportation, Government, Hospitality, Industrial) and Region (United States, Canada, Mexico, South America, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, South Africa, Rest of World)
Video Surveillance as a Service (VSaaS) Market size was estimated at $47 billion in 2020 and is expected to reach $57 billion by 2028, growing at a CAGR of 9.1% during the forecast period of 2021 to 2028.
Video surveillance has been widely embraced by businesses worldwide, allowing them to be more prepared for crises and address security concerns. Video surveillance as a service (VSaaS) is provided through the use of cloud technology and video surveillance equipment, as well as the usage of multi-megapixel HD cameras and the collection of massive volumes of video surveillance data. Additionally, the majority of systems include storage, encoders, and administration software. Residential, retail, corporate organizations, transit, government structures, and hospitality, industrial, and educational institutions are all users of video surveillance systems.
Video surveillance is critical for ensuring the security of key infrastructure and commercial locations. It not only aids in the continuous monitoring of infrastructure but also serves as evidence of what occurred during a crisis.
It is great for customers who operate multiple businesses from several locations, as well as small enterprises who want security services without any trouble with installation. With video surveillance as a facility, surveillance may be conducted remotely via mobile devices, PCs, and tablets running on Microsoft Windows, Android, or Apple operating systems. Video surveillance as a service lowers capital costs, operating costs, and energy consumption. When converting to video surveillance as a service, installation is straightforward. Convenient payment options and highly customizable solutions are just a few of the primary advantages of VSaaS. In underdeveloped nations, the IP video surveillance business is still in its infancy, but it has enormous promise. Artificial intelligence (AI) and machine learning are expanding demands for video surveillance. AI enables video surveillance firms to leverage enormous investments in monitoring networks worldwide and redefine how current surveillance technologies are designed and utilized to improve safety and security at monitored locations. IP surveillance solutions offer greater scalability as compared to closed-circuit television (CCTV) or traditional surveillance equipment.
Video Surveillance as a Service (VSaaS) Market Growth and Trend
The lower costs of entry increased the need for real-time monitoring data, and VSaaSs scalability is the primary reason driving the VSaaS market size. During the projected time frame, the commercial vertical is estimated to dominate the VSaaS market, owing to the increased adoption of VSaaS in retail outlets, residences, small and medium enterprises, healthcare systems, banks and other financial institutions, government offices, city surveillance, and manufacturing facilities, among others.
The rising tendency toward the construction of smart cities is likely to drive the VSaaS market size to new heights. To provide actionable insights for improving decision-making, smart cities depend on the integrated usage of Big Data, IoT, and other advancements. Traffic management and monitoring are two examples of video-based smart city systems. Moreover, as crime rates, antisocial behavior, and terrorist acts have increased, the administration has been using new technology and techniques to protect public safety and security. It has become important to enhance the system and reaction capabilities in the event of a catastrophic event, as well as to create safe, cost-effective, and realistic alternatives. This attribute fuels market expansion and creates profitable options for worldwide IP video surveillance and VSaaS market share.
Video Surveillance as a Service (VSaaS) Market Segmentation
The Video Surveillance as a Service (VSaaS) market is segmented by component, product, and application. Based on component, the market consists of hardware, software, and services. By product, the market is divided IP-based and analog. Based on application, the market is segmented into residential, retail, transportation, government, hospitality, industrial.
Video Surveillance as a Service (VSaaS) Market Country Analysis
North America accounted for the largest share of revenue in the world market. North America led technology adoption in comparison to other geographic regions; as a result, the area has a strong need for hybrid systems, megapixel cameras, and analytics. In the international Hybrid segment, the United States of America, Canada, Japan, China, and Europe are expected to fuel the sectors 22.4 percent CAGR. These regional markets, which together account for a total market value of US$430.6 Million in 2020, are expected to grow to US$1.8 Billion by the end of the research period. China will continue to be one of the fastest expanding markets in this cluster of regional economies. Asia-market Pacific is expected to reach roughly USD 1 Billion by the year 2026, led by nations such as Australia, India, and South Korea.
Video Surveillance as a Service (VSaaS) Market Share and Competition
The major players operating in the global Video Surveillance as a Service (VSaaS) market are Genetec Inc., Geovision, Honeywell Security Group, Axis Communications AB, Bosch Security Systems Inc., Pelco Inc., Cisco Systems Inc., Canon Inc, Panasonic System Networks Co. Ltd, Agent Video Intelligence, Zhejiang Dahua Technology Co. Ltd., and HikVision Digital Technology Co. Ltd.
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Industry Segmentation and Revenue Breakdown
Component Analysis (Revenue, USD Million, 2021 - 2028)
Product Analysis (Revenue, USD Million, 2021 - 2028)
Application Analysis (Revenue, USD Million, 2021 - 2028)
Region Analysis (Revenue, USD Million, 2021 – 2028)
• North America
o United States
• South America
o United Kingdom
• Asia Pacific
o South Korea
• Middle East
o GCC C ountries
o South Korea
• South Africa
• Rest of World
Video Surveillance as a Service (VSaaS) Market Companies
• Genetec Inc.
• Honeywell Security Group
• Axis Communications AB
• Bosch Security Systems Inc.
• Pelco Inc.
• Cisco Systems Inc.
• Canon Inc
• Panasonic System Networks Co. Ltd
• Agent Video Intelligence
• Zhejiang Dahua Technology Co. Ltd.
• HikVision Digital Technology Co. Ltd.
• United States Video Surveillance as a Service (VSaaS) Industry Research Report
• Europe Video Surveillance as a Service (VSaaS) Industry Research Report
• Asia Pacific Video Surveillance as a Service (VSaaS) Industry Research Report
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