Global IP Video Surveillance and VSaaS Market Size, Share & Trends Analysis Report By Product Type, By Application, By Regional Outlook and Forecast, 2024 - 2031

Global IP Video Surveillance and VSaaS Market Size, Share & Trends Analysis Report By Product Type, By Application, By Regional Outlook and Forecast, 2024 - 2031

The Global IP Video Surveillance and VSaaS Market size is expected to reach $101.63 billion by 2031, rising at a market growth of 11.7% CAGR during the forecast period.

Manufacturing facilities and corporate offices require robust video surveillance to secure sensitive areas, monitor production lines, and ensure employee safety. IP video surveillance helps track workflow, detect incidents in real-time, and ensure compliance with safety regulations. With the added benefits of cloud-based solutions, businesses in this sector can remotely access surveillance footage, monitor multiple locations, and reduce on-premise storage requirements. Thus, in 2023, the manufacturing & corporate segment procured 15% revenue share in the market.

The major strategies followed by the market participants are Product Launch as the key developmental strategy to keep pace with the changing demands of end users. For instance, In 2024, April, Hikvision revealed Turbo HD 8.0, a new analog security product. Turbo HD 8.0 delivers a more comprehensive and interactive security experience for users, enabling them to augment their visual security environment. The enhancements extend the range of Turbo HD products with two-way audio capabilities, compact dual-lens cameras with stitching technology, and Smart Hybrid Light capability across the entire range of Turbo HD cameras. Additionally, In October, 2023, Canon India launched its latest range of 4K remote PTZ cameras at the 32nd Broadcast India Show, held at the Jio World Convention Centre, Mumbai. The new lineup includes the CR-N100 (indoor) and CR-X300 and CR-X500 (outdoor) models, designed for diverse broadcasting applications such as conferences, sports, wildlife observation, theme parks, and event spaces.

Based on the Analysis presented in the KBV Cardinal matrix; Sony Corporation and Honeywell International, Inc. are the forerunner in the IP Video Surveillance and VSaaS Market. Companies such as Robert Bosch GmbH, Panasonic Holdings Corporation, Hangzhou Hikvision Digital Technology Co., Ltd., are some of the key innovators in IP Video Surveillance and VSaaS Market. In May, 2024, Robert Bosch GmbH revealed FLEXIDOME 3100i camera, expanding the 3100i product range, providing dependable security while maintaining robust video analytics and data security. Featuring a discreet design, the new dome is well-suited for schools, office buildings, or other settings where inconspicuous surveillance is necessary. Available as an indoor model, with or without IR illumination, it offers enhanced flexibility to meet project needs. The IR illumination enables coverage of up to 30m (98ft) in low-light conditions. Additionally, the cameras incorporate integrated varifocal lenses for crisp, detailed images with an adjustable field of view.

Market Growth Factors

The global rise in thefts, robberies, and other criminal activities has significantly driven the demand for effective surveillance solutions. IP video surveillance systems offer high-resolution video capture, real-time monitoring, and advanced features such as motion detection and facial recognition, making them essential for crime prevention and investigation.

Additionally, the need for remote monitoring and management has become increasingly critical across multiple sectors, driven by the rise of remote work and decentralized operations. IP video surveillance and VSaaS provide robust solutions that enable organizations to monitor and manage security from anywhere in the world, offering real-time access to surveillance data through cloud platforms and mobile applications. Therefore, the rising need for remote monitoring and management in various sectors is propelling the market's growth.

Market Restraining Factors

The high initial cost of deploying advanced IP video surveillance systems is a significant restraint for the market. Expenses related to hardware, installation, setup, and maintenance can be substantial, particularly for small and medium-sized enterprises (SMEs) and budget-constrained organizations. These financial barriers can deter potential customers from investing in comprehensive surveillance solutions despite their long-term benefits. In conclusion, high initial costs and budget constraints limit market expansion.

Product Type Outlook

Based on product type, the market is divided into hardware, software, cloud based solutions, and services. The services segment attained 26% revenue share in the market in 2023. Services in this market include system installation, maintenance, monitoring, and cloud storage. The increasing demand for managed surveillance services, where third-party vendors provide continuous monitoring and management, is a key driver of the growth in this segment.

Hardware Outlook

The hardware segment is further subdivided into IP camera, monitor, and storage. The storage segment held 24% revenue share in the market in 2023. Storage solutions are essential for archiving the large volumes of video data generated by surveillance systems. The growing demand for high-definition video and the need for longer retention periods of surveillance footage has driven the expansion of the storage segment.

Services Outlook

The services segment is further subdivided into video surveillance as a service, hosted VSaaS, managed VSaaS, hybrid VSaaS, and integrated services IP surveillance. In 2023, the software segment acquired 17% revenue share in the market. The software component includes video management software (VMS), analytics software, and other applications that enable video surveillance systems to function efficiently.

Software Outlook

The software segment is further subdivided into video management system (VMS) and video analytics software (VAS). The cloud based solutions segment held 11% revenue share in the market in 2023. Cloud-based solutions for video surveillance allow businesses to store, manage, and access surveillance footage remotely via the cloud, eliminating the need for on-premise storage infrastructure.

Cloud Based Solution Outlook

In 2023, the cloud based solutions segment is further subdivided into cloud storage by product software and deployment type. The cloud storage by product software segment recorded 60% revenue share in the market in 2023. This segment focuses on software solutions that manage the storage and retrieval of video data in the cloud.

Application Outlook

Based on application, the market is categorized into BFSI, retail, manufacturing & corporate, healthcare, casino & entertainment, residential, government & higher security, and others. In 2023, the BFSI segment registered 23% revenue share in the market. The BFSI sector requires advanced surveillance solutions to ensure the security of financial transactions and monitor ATMs, branches, and secure areas within financial institutions. IP video surveillance in this segment helps reduce theft, ensure compliance with security regulations, and enhance customer safety.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region generated 28% revenue share in the market in 2023. The Asia Pacific region is experiencing rapid growth due to increasing urbanization, industrialization, and investment in infrastructure development.

Recent Strategies Deployed in the Market

• May-2023: Motorola Solutions, the parent company of Avigilion, released the V700 body camera a mobile broadband-enabled camera. The V700 body camera would provide public safety agencies with another critical source of real-time field intelligence and collaboration. Additionally, the launch aims to ensure a clear, accurate account of events, the V700's precision high-definition sensor adjusts to low lighting similar to a human eye.
• Mar-2023: Panasonic Holdings Corporation released AW-UR100, a PTZ camera used for HD video recording. The camera has a dynamic image stabilizing system (DISS) and 4K/60FPS capability for HD videography. The rugged design of the camera's body facilitates its applications in harsh outdoor environments.
• Mar-2023: Honeywell collaborated with Bengaluru City Police and completed phase 1 of the Safe City project, with more than 4,100 video cameras installed at 3,000 strategic locations across the city. These cameras are intended to identify serious situations and speed up police response. Additionally, the cameras are linked to a command center that uses machine learning (ML) and artificial intelligence (AI).
• Feb-2023: Hikvision teamed up with Evercam, a construction time-lapse and project management software developer, to provide a joint solution that will help construction companies optimize performance and minimize risk on their large projects. Now part of the Hikvision Technology Partner Program, Evercam will incorporate a wide range of Hikvision products into its solution for construction companies worldwide.
• Sep-2022: Hikvision made enhancements to its Pro series PTZ cameras with the addition of ColorVu technology. The integration of ColorVu in Hikvision's new Pro series cameras would deliver consistent image brightness and complete color imaging as the camera zooms in and out. Furthermore, the enhancement makes sure crystal-clear details and vivid color for distant objects at all times and in all situations.
• Sep-2022: Sony India has announced a strategic partnership with Press Trust of India (PTI), the country’s largest independent news agency, to become its exclusive supplier of digital imaging solutions. Under this collaboration, Sony India will equip PTI’s photo and video journalists with cutting-edge cameras and lenses while offering product servicing and specialized training.
• May-2022: Dahua Technology introduced its updated WizSense series, by adopting a deep-learning algorithm and an independent AI chip. The latest WizSense integrates Quick Pick, AI Scene Self-adaption (SSA), SMD 4.0, AI Coding, and other extended AI functions for fast target search, to deliver accurate detection and inclusive AI products to customers.

List of Key Companies Profiled

• Honeywell International, Inc.
• Avigilon Corporation (Motorola Solutions, Inc.)
• Axis Communications AB (Canon, Inc.)
• Hangzhou Hikvision Digital Technology Co., Ltd.
• Panasonic Holdings Corporation
• Robert Bosch GmbH
• Genetec Inc.
• Sony Corporation
• Zhejiang Dahua Technology Co., Ltd.
• Swann Communications Pty. Ltd. (Infinova Corporation)

Global IP Video Surveillance and VSaaS Market Report Segmentation

By Product Type

• Hardware
• IP Camera
• Monitor
• Storage
• Software
• Video Management System (VMS)
• Video Analytics Software (VAS)
• Cloud Based Solutions
• Cloud Storage by Product Software
• Cloud Storage by Deployment Type
• Services
• Video Surveillance as a Service
• Hosted VSaaS
• Managed VSaaS
• Hybrid VSaaS
• Integrated Services IP Surveillance

By Application

• BFSI
• Retail
• Manufacturing & Corporate
• Healthcare
• Casino & Entertainment
• Residential
• Government & Higher Security
• Other Application

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA