Video Surveillance as a Service (VSaaS) Global Market Report 2024

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 expansion witnessed in the historical period can be attributed to various factors. These encompass cost-effectiveness, the ability for remote monitoring and accessibility, scalability, and flexibility, alongside integration capabilities with other systems. Additionally, there's a notable reduction in maintenance overheads contributing to this growth.

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 observed in the past era can be attributed to multiple factors. These encompass cost-effectiveness, remote monitoring, and accessibility, scalability, flexibility, integration capabilities with other systems, as well as decreased maintenance overheads.

The surge in video surveillance as a service (VSaaS) market is attributed to smart city initiatives. These cities leverage ICT to enhance operations, public data exchange, and governmental services, promoting safety measures. Governments globally strive to create smarter, more efficient communities. Intelligent video monitoring aids emergency responses and crime prevention. For example, by August 2023, 74% of projects in 100 Indian Smart Cities were completed, with a substantial budget allocation effectively utilized.

The projected surge in the Video Surveillance as a Service (VSaaS) market is attributed to increased retail penetration. Retail, involving the direct sale of goods or services to consumers, stands to benefit from VSaaS, which bolsters security through cloud-based video monitoring and analytics. Notably, in November 2023, the House of Commons reported a substantial rise in retail sales in Great Britain to £9.0 billion ($9.9 billion) per week, up from £8.4 billion ($9.3 billion) in September 2023. This elevation in retail penetration is a driving force behind the expected growth of the VSaaS market.

Major players in the Video Surveillance as a Service (VSaaS) sector are concentrating on developing cloud-based solutions integrated with AI, specifically edge AI analytics. VIVOTEK, a Taiwan-based IP surveillance provider, launched VORTEX in August 2022. This solution incorporates cameras, cloud, and deep learning technology to deliver AI-powered surveillance. Its hybrid cloud architecture allows storage and analysis directly within the camera, benefiting Small and Medium-sized Businesses (SMBs) with reduced time, cost, and bandwidth limitations.

Major contenders in the Video Surveillance as a Service (VSaaS) realm are concentrating on refining their platforms, such as video API platforms, aiming to empower developers in cloud video surveillance. This strategic focus intends to establish a competitive advantage within the market. Eagle Eye Networks, a US-based video surveillance company, rolled out the V3 iteration of its Video API Platform in September 2023. This enhanced version offers developers a comprehensive and faster tool to create video applications. The platform, built on an open architecture with extensive RESTful API and camera support, facilitates easy application development leveraging cloud video surveillance. The upgraded API, an evolution from its predecessors, incorporates customer feedback and requests, elevating video analytics, AI integration, and scalability. Organizations utilizing Eagle Eye's Video API Platform for cloud-based surveillance solutions are recommended to adopt the new API V3 for enhanced capabilities.

In October 2021, Delta, a US-based telecom solutions provider, completed the acquisition of Infinova (Canada) Ltd. for $114 million. This move aimed to strengthen Delta's position in the video surveillance market while complementing their building automation solutions. Infinova (Canada) owns March Networks, a Canada-based video surveillance and business intelligence company.

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.

Asia-Pacific was the largest region in the video surveillance as a service (VSaaS) market in 2023. 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. The countries covered in the video surveillance as a service (vsaas) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Video Surveillance as a Service (VSaaS) encompasses IP-based and analog systems. IP-based cameras, integral to Video Management Systems (VMS), enable live streaming, recording, and footage retrieval. They operate via Internet-enabled data transmission, reliant on LAN connections. Analog setups capture images, converting them into digital formats for viewing via monitors or routers on internal networks for remote access. VSaaS offers managed, hybrid, and hosted services, catering to sectors such as industrial, residential, defense, institutions, public facilities, and commercial entities.

The video surveillance as a service (VSaaS) market research report is one of a series of new reports that provides video surveillance as a service (VSaaS) market statistics, including video surveillance as a service (VSaaS) industry global market size, regional shares, competitors with video surveillance as a service (VSaaS) market share, detailed video surveillance as a service (VSaaS) market segments, market trends and opportunities, and any further data you may need to thrive in the video surveillance as a service (VSaaS) industry. This video surveillance as a service (VSaaS) market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The video surveillance as a service (VsaaS) market includes revenues earned by entities by providing cloud-based video surveillance services such as video recording, storage, remote viewing, and management alerts. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.