VSaaS Market Forecasts to 2028 – Global Analysis By Product Type (Managed, Hybrid, Hosted and Other Product Types), Vertical (Infrastructure, Public Facilities, Military & Defense, Residential, Industrial, Commercial and Other Verticals) and By Geography

VSaaS Market Forecasts to 2028 – Global Analysis By Product Type (Managed, Hybrid, Hosted and Other Product Types), Vertical (Infrastructure, Public Facilities, Military & Defense, Residential, Industrial, Commercial and Other Verticals) and By Geography

According to Stratistics MRC, the Global VSaaS Market is accounted for $4.09 billion in 2022 and is expected to reach $12.33 billion by 2028 growing at a CAGR of 20.19% during the forecast period. Video surveillance as a service (VSaaS) relates to cloud-based video surveillance that is hosted. The service includes video recording, storage, remote viewing, warnings for management, and cybersecurity. Video processing and management are carried out off-site using the cloud, although the system can have a simple on-site interface that serves as a communication conduit to communicate with the cameras and the cloud. A video surveillance device can capture images and videos that can be compressed, saved, or sent over networks of communication.

According to the Accenture digital health technology vision report, 66% of healthcare professionals plan to shift their technology infrastructures in the cloud. According to Clod Security Alliance, 58% of respondents stated network security is the major concern for cloud adoption in their organization.

Market Dynamics:

Driver:

Growing demand for real-time surveillance data

Growing demand for real-time surveillance data across commercial and infrastructure sectors is one of the major drivers for market growth. Security concerns and advancements in technologies demand real-time remote monitoring on any device at any time by end users. Also, users with multiple business sites demand real-time and remote access to surveillance data to keep an eye on the site remotely. Therefore, the mounting demand for remote access to surveillance data at any time enables the market to grow worldwide.

Restraint:

Privacy and hacking concerns

VSaaS provides information storage in the cloud. It is also an external entity with the ability to access the data of a client. Users have been concerned about who is watching the video and how the video might be used or misused, as individuals expect their personal information to be used for legitimate and unique purposes only. Besides, cloud services are designed to allow users to back up their data in real-time that could be viewed, leaked, or stolen by unauthorized workers, or misused. This might limit the growth of the market.

Opportunity:

Expansion in video analytics and AI transforming

Within the VSaaS industry, there is a huge increase in demand for cloud-based services from different end users. The augmentation can be endorsed to a variety of advantages of cloud based systems, including among others, faster response times and remote monitoring. In the current video surveillance industry, stakeholders are positive that more research and technological developments would bring substantial changes to the market.

Threat:

Lack of knowledge

Though the market is growing significantly across developed economies, there are still some challenges faced by the service providers. These include lack of knowledge about benefits of services along with lesser adoption rate across underdeveloped and developing economies. In addition, several countries do not have access to high speed internet connectivity. End users are becoming sceptical about switching to VSaas over traditional video surveillance systems, therefore, it is becoming crucial to increase the awareness for services among end users in the market.

Covid-19 Impact

The outbreak and spread of COVID-19 have affected the market in terms of operations across various industries in different regions. The adverse effects of the virus become more prevalent in locations where customers, resellers, service providers, camera manufacturers, experienced constrained supply or curtailed demand. This is due to disruptions in the supply chain, coupled with restrictions on cross-border trade, resulting in delays in the completion of hardware components.

The hosted segment is expected to be the largest during the forecast period

The hosted segment is estimated to have a lucrative growth, due to the demand is driven by a growing concern among users about improving security, a rising number of government measures to improve public security, and ongoing improvements in infrastructure, including transport hubs. Growing mobile penetration in developing countries, coupled with technological developments in telecom networks, like LTE availability and the growing 5G trend, and high speed Internet access are the factors driving the segment growth.

The commercial segment is expected to have the highest CAGR during the forecast period

The commercial segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the growing adoption in retail chains, residential apartments, small businesses, healthcare organizations, banks, government buildings, urban surveillance, and production sites. In order to improve protection, mitigate fraud, and minimize inventory loss, demand in the commercial vertical is growing. The growing adoption of video surveillance in the hospitality industry to recognize possible threats is also driving the commercial vertical segment growth.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the increasing installation of surveillance equipment as well as increased infrastructure expenditure in the region. The rising population is also generating significant demand for smart video surveillance solutions. The presence of a large number of camera manufacturers and the low cost of video surveillance systems provide opportunities for the area to develop in the market. There are also opportunities for the industry due to the rising penetration of emerging technology such as automated number plate recognition, facial recognition, people counting, retail management, remote asset management, and crowd management.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the rising crime rates, growing terrorism, and government measures to set up advanced monitoring systems in public areas and government buildings. Business establishments, like hotels, restaurants, and office complexes, are the most-common users of video surveillance as a service. The government of the country has launched many programs to install advanced surveillance systems in public places and official buildings. Moreover, the market is growing as the country is witnessing a high crime rate, which is forcing the government to invest in video surveillance as a service.

Key players in the market

Some of the key players profiled in the VSaaS Market include Camcloud, Inc., Honeywell Process Solutions, Axis Communications AB, Cloudastructure, Inc., Panasonic System Networks Co. Ltd., CameraFTP Service, Brivo, Inc., ADT Security Services, Inc., Genetec, Inc., IVIDEON, Inc., Eagle Eye Networks, Inc., Pacific Control Systems LLC , Duranc, Inc. NETGEAR Inc., GeoVision, Inc., Homeboy, Inc., FLIR Systems, Inc., Robert Bosch GmbH, Canary Connect, Inc. and Pelco, Inc.

Key Developments:

In December 2021, Axis Communications established an open-source initiative for video verification, which assures the authenticity of surveillance video which is used in the business's cameras. Axis has issued a whitepaper outlining an architecture which will form a basis for partners to deploy integrated video authentication solutions.

In April 2021, FLIR and Neurala have collaborated to create AI-Powered Industrial Computer Vision technology. With little data and no AI knowledge, this new imaging system enables users to quickly develop deep learning models on the VIA platform using Neurala's Brain Builder. By using free Flir Spinnaker software platform, these models may be instantly downloaded to a Flir Firefly DL camera.

Products Types Covered:
• Managed
• Hybrid
• Hosted
• Other Product Types

Verticals Covered:
• Infrastructure
• Public Facilities
• Military & Defense
• Residential
• Industrial
• Commercial
• Other Verticals

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements