VSaaS Market
Growth Factors of VSaaS Market
The VSaaS market size was valued at USD 4.76 billion in 2023, and the market is now projected to grow from USD 5.59 billion in 2024 to USD 19.57 billion by 2032, exhibiting a CAGR of 17.0% during the forecast period of 2024-2032.
The VSaaS market growth has mainly experienced a setback due to the COVID-19 outbreak. Many manufacturing units and businesses across nations were shut down due to social distancing. Moreover, restrictions on travelling and exports and imports of the products impacted the overall sales of the products. In addition, the lockdown hampered the supply chain worldwide and affected the sale of video surveillance cameras for a short time.
This realization is pressurizing the adoption of Video Surveillance as a Service (VSaaS) through the increased utilization of the “as-a-service” model. Cloud enterprise solutions are also proving to be significantly more cost-effective and more manageable than investing in localized hardware. VSaaS is highly scalable in a flexible manner, which means that organisations can transform to market changes and enjoy the advantages that come with analytics. This business model therefore eases operations in the management of video surveillance services, thus increasing the VSaaS market share.
Besides, there is an increase in the adoption of 5G networks and high-definition cameras in the VSaaS industry. Real-time video processing, cloud migration and streaming, including the use of 4K and 8K, are all possible, thanks to the speed and low latency of 5G connections. Collaborating HD cameras help in increasing the level of security by offering better imagination of a given area. Enhanced super/high-definition video processing aids in recognizing and interpreting objects, initiating alarms and enhancing video data attributes. These trends are therefore estimated to drive the VSaaS market even further.
Comprehensive Analysis of VSaaS Market
The VSaaS market and the information & communication technology industry are growing exponentially because of its market segmentation. Thus, this market expansion offers a clear regional outlook taking into account the key supply and demand factors affecting the hardware & software IT services market. These segmentations are then systematically separated based on the specific end-users. The end-user include, Commercial, Industrial, Government, Defense and Public Sector, and Residential
North America is expected to dominate the VSaaS market as it has one of the highest cloud traffic and spending on the public cloud. The U.S. is predicted to be the biggest market for public cloud services this year. Higher penetration of smart home security cameras in the American and Canadian markets will fuel the VSaaS market going forward. The presence of advanced features such as video analytics for companies in the region and smart city projects that require VSaaS for traffic analysis and public safety are factors contributing to the market growth.
The leading companies in the market are useful in the information and communication technology market to ensure industrial prospectus development and establish market norms. These players include, Canon Inc. (Japan), Honeywell International Inc. (U.S.), ADT Inc. (U.S.), Motorola Solutions Inc. (U.S.), Robert Bosch GmbH (Germany), Alarm.com (U.S.), Johnson Controls International Plc (Ireland), Arcules Inc. (U.S.), Genetec Inc. (Canada) and Eagle Eye Networks Inc. (U.S.). They offer a level-playing competitive environment that comprises the market players.
In October 2023, Canon Inc. released “Video Enhancement Software Version 1.0” -software for the higher sensitivity camera series 1, which increases video visibility over sound reduction processing-based AI.
Segmentation Table
Global VSaaS Market Scope
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Growth Rate CAGR of 17.0% from 2024 to 2032
Historical Period 2019-2022
Unit Value (USD Billion)
Segmentation By End-user, and Region
By End-user - Commercial
- Industrial
- Government, Defense and Public Sector
- Residential
By Region - North America (End-user, Country)
- U.S. (By End-user)
- Canada (By End-user)
- Mexico (By End-user)
- Europe (End-user, Country)
- U.K. (By End-user)
- Germany (By End-user)
- Italy (By End-user)
- France (By End-user)
- Russia (By End-user)
- Spain (By End-user)
- Benelux (By End-user)
- Nordics (By End-user)
- Rest of Europe
- Asia Pacific (End-user, Country)
- China (By End-user)
- Japan (By End-user)
- India (By End-user)
- South Korea (By End-user)
- ASEAN (By End-user)
- Oceania (By End-user)
- Rest of Asia Pacific
- Middle East and Africa (End-user, Country)
- Turkey (By End-user)
- GCC (By End-user)
- Israel (By End-user)
- North Africa (By End-user)
- South Africa (By End-user)
- Rest of the Middle East & Africa
- South America (End-user, Country)
- Brazil (By End-user)
- Argentina (By End-user)
- Rest of South America
Please Note: It will take 5-6 business days to complete the report upon order confirmation.