Product Overview Video surveillance as a service (VSaaS) relates to cloud-based video surveillance that is hosted. Usually, the service includes video recording, storage, remote viewing, warnings for management, and cybersecurity.
New York, June 14, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "VSaaS Market: By Type ; By Product ; By Industry ; and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030" - https://www.reportlinker.com/p06191777/?utm_source=GNW
Video processing and management are carried out off-site using the cloud, although the VSaaS 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.
VSaaS Market is expected to project a notable CAGR of 16.7% in 2030.
VSaaS Market to surpass USD 6.7 Billion by 2030 from USD 2.7 billion in 2018 at a CAGR of 16.7% throughout the forecast period, i.e., 2019-30. The market is expected to be driven by a growing number of security issues at a global level, coupled with increased investment in sophisticated surveillance network growth. It is also expected that increased demand for traffic monitoring and intrusion detection will fuel market growth over the next six years. Technological development has led to improved surveillance cameras and related devices being developed. The VSaaS market is expected to be positively influenced by decreasing IT costs and centralized data management. The introduction of big data analytics tools is expected to provide companies operating in the industry with viable growth opportunities. Mobile video monitoring facilitates the display of data in real time, which provides the vSaaS industry with growth opportunities.
VSaaS Market: Segments
Hosted Segment to grow with the highest CAGR during 2019-30
VSaaS Market is segmented by Type into Hosted, Managed, and Hybrid. The greater market share in 2018 was accounted for by Hosted VSaaS due to the demand for VSaaS 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. Furthermore, the growth of the VSaaS market is also driven by the rising number of smart cities and the growing importance of VSaaS for retail, SMBs, and residential applications. Growing mobile penetration in developing countries, coupled with technological developments in telecom networks, such as LTE availability and the growing 5G trend, and high-speed Internet access, are helping the host VSaaS market to expand further as high Internet speed is one of the fundamental requirements of service providers and consumers.
Military & Defense segment to grow with the highest CAGR during 2019-30
VSaaS Market is segmented by Industry into Commercial, Infrastructure, Residential, Public Facilities, Military & Defense, and Industrial. Based on industry, the commercial segment holds the largest share in 2018 owing to The VSaaS market is driven by the growing adoption of VSaaS 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 for VSaaS in the commercial vertical is growing. In recent years, the adoption of VSaaS in financial institutions and banks to track customers and employee activities has been growing, owing to the benefits provided by VSaaS, such as lower initial investments, flexibility in adding devices, and remote access to surveillance data. The growing adoption of VSaaS in the hospitality industry to recognize possible threats is also driving the commercial vertical demand for VSaaS.
VSaaS Market: Market Dynamics
Advancements 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 growth can be attributed to various advantages of cloud-based systems, including among others, faster response times and remote monitoring. A development that is expected to continue throughout the forecast period is the adoption of cloud-based services. In the current video surveillance and VSaaS industry, stakeholders are optimistic that more research and technological developments would bring substantial changes to the VSaaS market.
Declining prices of cameras
In VSaaS, at a substantially low cost, video data is handled by service providers. On the cloud, the data is processed. Physical data storage devices and personnel are also not necessary, which decreases the expense of IT hiring by a considerable amount, including wages, benefits, and other related costs. All surveillance-related operations, including recording, monitoring, and maintenance, are handled by service providers, which helps to minimize the costs associated with the personnel needed to monitor the system. Since minimal hardware is used it allows businesses to maximize the cost-effectiveness of the solution, produce better performance, and obtain a better return on investment (RoI). End-users can save hundreds of dollars on equipment and invest the money in additional cameras or other areas of their business by eliminating the cost of buying servers, hard drives, and camera licenses. VSaaS thus lowers the cost of upfront capital.
Privacy and hacking concerns regarding data usage
VSaaS provides information storage in the cloud. A multi-tenant network in which resources are shared is 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 for VSaaS.
VSaaS Market: Regions
VSaaS Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
VSaaS Market in North America held the largest market share of XX.X% in the year 2018 and is characterized by the presence of several industry participants. Over the forecast period, Asia Pacific is expected to gain market share, mainly due to the increasing installation of surveillance equipment in China and India, as well as increased infrastructure expenditure in the region. In China and India, 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 VSaaS market. Demand for VSaaS is also created by government initiatives to increase public safety and to increase the development of infrastructure in the region. 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.
The VSaaS market, which is highly competitive, consists of several major players such as ADT (US), Johnson Controls (Ireland), Axis Communications AB (Sweden) hold a substantial market share in the VSaaS market. Other players analyzed in this report are Avigilon, a Motorola Solutions Company (Canada), Stanley Black & Decker, Inc. (US) among others.
Recently, various developments have been taking place in the market. In August 2020, Motorola Solutions announced the availability of the newest addition to its video security and analytics portfolio, the H4 Thermal Elevated Temperature Detection (ETD) Solution. It can be used to detect elevated body temperature in a person and focus on the key elements of safety and security around COVID-19, including prevention, protection, and response.
VSaaS Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
VSaaS Market: Key Players
Panasonic System Networks Co. Ltd.
Key Product Offerings
Key Performance Indicators
D-Link Systems, Inc.,
Agent Video Intelligence Ltd.,
Robert Bosch GmbH,
Axis Communications AB,
FLIR Systems, Inc.,
Homeboy, Inc., and
Canary Connect, Inc.
VSaaS Market report also contains analysis on:
VSaaS Market Segments:
Retail Stores & Malls
Banking & Financial Buildings
Transportation & City Surveillance
Military & Defense
VSaaS Market Dynamics
VSaaS Market Size
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Read the full report: https://www.reportlinker.com/p06191777/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001