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The Video Surveillance as a Service (VSaaS) Market size is estimated to grow by USD 8.02 billion at a CAGR of 23.51% between 2023 and 2028. The rise in urbanization and infrastructure development, driven by rapid urbanization and the need for enhanced security in urban areas, is driving market growth by increasing the demand for video surveillance systems. The suitability of video surveillance for smart cities, driven by the need for intelligent security solutions in urban environments, is also boosting market expansion by creating a demand for video surveillance technologies that can integrate with smart city infrastructure. Additionally, the ease of accessibility and remote monitoring, driven by advancements in video surveillance technology and the availability of mobile monitoring solutions, is driving market growth by increasing the adoption of these systems for remote monitoring applications. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.
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This market report extensively covers market segmentation by solution (hosted, managed, and hybrid), end-user (commercial, industrial, and residential), and geography (North America, APAC, Europe, South America, and the Middle East and Africa).
The hosted segment is estimated to witness significant growth during the forecast period. Several VSaaS providers in the market are providing all types of high-quality camera footage and security systems as hosted video surveillance solutions. Some of the key benefits of the hosted solution segment are scalability, accessibility, and reduced maintenance burden.
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The hosted segment was the largest segment and was valued at USD 1.26 billion in 2018. The main advantage of the hosted solutions segment is that it can easily be customized as per the changing consumer requirements as it can remove or add cameras and storage capacity as needed without the need for significant infrastructure changes. This segment is extensively used for businesses with various locations or for remote monitoring. Many prominent hosted solution providers offer several robust security measures such as encryption, authentication, and redundancy, to protect your video data. Hence, factors including scalability and ease of maintenance are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
The increase in installations of video surveillance in retail sectors is fuelling the commercial segment which in turn will increase the market growth. There is an increasing adoption of security technologies across retail sectors such as electronic article surveillance systems, radio frequency identification systems, and video surveillance systems, for the protection of their assets. The main advantage of this solution in the retail sector is that it helps to prevent shoplifting as well as ensure that the employees in the retail establishment do not steal any products from the inventory. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the main factors which significantly contribute to the growth of the market in North America are the early adoption of technologies in several industries, the need to prevent counter-terrorism, and rapid urbanization and industrialization.
Moreover, the main regions which are significantly fuelling the demand for video surveillance solutions in North America include Cities in the US, such as Houston, Chicago, and New York City. As North America is an early adopter of new technologies, many residences and industries in the region have the necessary infrastructure to implement these solutions. The main purpose of these solutions in these sectors is to protect assets, foster a safe, compliant, and healthy working environment, and improve the productivity of the workforce. Hence, such factors are expected to drive market growth in the region during the forecast period.
The market offers remote video monitoring solutions for various premises, utilizing cameras to capture video-based data. The data is securely stored in central cloud storage, ensuring accessibility over the internet while addressing security concerns. Particularly in the Asia Pacific Video Surveillance-as-a-Service Market, organizations value the scalability and remote accessibility of VSaaS, enabling efficient surveillance systems. VSaaS often incorporates analytics and AI-based solutions for functionalities like facial recognition and object detection, making it one of the fastest-growing verticals in the security technology sector. Cloud VSaaS, with its cost-effective cloud-based software-as-a-service (SaaS) solutions, provides scalability benefits and remote access capabilities that cater to evolving security threats.
One of the key factors driving market growth is the rise in urbanization and infrastructure development. The increase in expansion of cities can lead to several new infrastructure projects and developments which, in turn, fuels the demand for advanced video surveillance solutions, particularly cloud-based offerings. Additionally, there is increasing adoption of smart city concepts across urban areas to improve efficiency, security, and quality of life.
Moreover, some of the main advantages of VSaaS in these infrastructures include offering real-time video monitoring of public spaces, traffic management, and emergency response systems. Additionally, facial recognition and object detection capabilities enhance security measures. VSaaS is also seen as one of the fastest-growing verticals in the surveillance industry due to its innovative use of technology to address evolving security threats. It is considered cost-effective compared to traditional surveillance systems and offers scalability benefits. Another key advantage is its remote access capabilities, allowing users to monitor and manage surveillance systems from anywhere. Additionally, cloud-based surveillance solutions provide various cities the capacity to deploy and manage surveillance cameras across different locations thereby enabling law enforcement agencies to monitor and respond to incidents effectively. Thus, it is positively impacting the market growth. Hence, such factors are expected to drive market growth during the forecast period.
A key factor shaping market growth is the adoption of artificial intelligence and video analytics. Artificial intelligence and video analytics are revolutionizing the global VSaaS market landscape, by improving the capabilities and effectiveness of cloud-based surveillance solutions. The main advantages of these technologies include improved security, operational efficiency, and decision-making by enabling advanced features, insights, and automation.
As a result, it helps to improve the ability to identify and monitor individuals, vehicles, and objects of interest in real-time. Additionally, it can be widely used to analyze patterns and behaviors captured in video feeds which include detecting unusual or suspicious activities, including loitering, abandoned objects, or crowd anomalies, which enables proactive threat detection and prevention. Therefore, it is positively impacting the market growth. Hence, such factors are expected to drive market growth during the forecast period.
Slow internet speed is one of the key challenges hindering market growth. The high cost of transmission of videos is one of the major challenges in offering a hosted video service. Additionally, a high-speed internet connection is crucial for both customers as well as third-party security agencies to transmit the videos. Several of the broadband or high-speed Internet service providers offer asymmetric connections (the download speed is often much higher than the upload speed) whereas customers need to have high internet speed for uploading.
However, some of the main factors that influence the speed of the Internet include optical fiber, available bandwidth, and satellite network connections. Hence, the slow speed of the internet can negatively impact the market. Therefore, such factors are expected to hinder market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments
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The market is witnessing rapid growth driven by the need for advanced surveillance and monitoring solutions across various industries such as healthcare and transportation. The shift towards cloud-based platforms offers advantages like lower infrastructure costs and scalable video surveillance options. AI-based VSaaS solutions with features like object recognition and anomaly detection enhance security and enable predictive maintenance. However, challenges such as storage concerns and data security remain, driving the demand for secure access and integrity of surveillance footage. The market continues to evolve with innovations in AI-powered machine learning algorithms, on-premises infrastructure and IoT-enabled sensors.
The market is experiencing significant growth due to the adoption of cloud-based platforms and the need for scalable video surveillance solutions. Security operatives benefit from AI-driven analytics and intelligent tools for enhanced surveillance capabilities. Cloud-based VSaaS providers offer end-to-end solutions with low infrastructure costs compared to on-premises setups. However, challenges such as internet connectivity issues and outages can affect video data streaming and network resources, leading to increased costs. Ensuring the security of sensitive information against unauthorized access is crucial, driving the demand for robust video data storage solutions.
Market Scope |
|
Report Coverage |
Details |
Page number |
179 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 23.51% |
Market growth 2024-2028 |
USD 8.02 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
18.72 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 34% |
Key countries |
US, China, Germany, Japan, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ADT Inc., Advanced Control Corp., Avid Communications LLC, Camcloud Inc., Canon Inc., Cisco Systems Inc., Cloudastructure Inc., ControlByNet LLC, D Link Corp., Drive Headquarters Inc., Eagle Eye Networks Inc., Genetec Inc., Honeywell International Inc., Iveda Solutions Inc., Motorola Solutions Inc., Napco Security Technologies Inc., NW Security Group Ltd., Pacific Control Systems, Robert Bosch GmbH, and VIVOTEK Inc. |
Market dynamics |
Parent market analysis, Market forecasting, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Solution
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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