PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1468738
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1468738
The global VSaaS market is expected to be valued at USD 5.0 billion in 2024 and is projected to reach USD 10.7 billion by 2029; it is expected to grow at a CAGR of 16.1% from 2024 to 2029. The VSaaS market is experiencing growth primarily due to the increasing demand for remote monitoring and surveillance solutions across various industries. Businesses are recognizing the benefits of cloud-based video surveillance, such as scalability, flexibility, and cost-effectiveness, compared to traditional on-premises systems.
Scope of the Report | |
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Years Considered for the Study | 2020-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Billion) |
Segments | By Type, Feature, AI Visual Analysis, Vertical & Region |
Regions covered | Asia Pacific, North America, Europe, RoW |
"VSaaS market for managed type to account for the second highest market share during the forecast period."
The VSaaS market is expanding for managed services due to several factors. Firstly, businesses are increasingly outsourcing their video surveillance needs to managed service providers to reduce the complexity and burden of system management. Managed services offer businesses access to expertise and support for deploying, monitoring, and maintaining their surveillance systems, allowing them to focus on their core operations. Additionally, managed services often provide predictable pricing models and scalability, making them attractive to businesses looking to control costs and adapt to changing needs.
"VSaaS market for AI-enabled VSaaS to account for the highest CAGR during the forecast period."
The VSaaS market is expanding for AI-enabled solutions due to the transformative capabilities that artificial intelligence (AI) brings to video surveillance. AI-powered VSaaS offers advanced features such as real-time object detection, facial recognition, and behavior analysis, enabling businesses to enhance security, optimize operations, and extract valuable insights from video data. This combination of AI and VSaaS allows for more accurate and efficient detection of threats and anomalies, reducing false alarms and enabling proactive responses to security incidents.
"Commercial vertical in VSaaS market to account for the highest market share during the forecast period."
The VSaaS market is experiencing notable growth in the commercial vertical due to several key factors. Firstly, businesses across various industries are increasingly prioritizing security and surveillance to safeguard assets, protect employees, and mitigate risks such as theft, vandalism, and liability claims. VSaaS solutions offer commercial entities the flexibility to deploy and manage surveillance systems efficiently, regardless of their size or complexity, while also providing remote access and monitoring capabilities. Additionally, the scalability of VSaaS allows businesses to easily expand their surveillance infrastructure as needed, accommodating growth and evolving security requirements.
"VSaaS market for North America to account for the second highest market share during the forecast period."
The VSaaS market is growing significantly in the North American region due to several key factors. Firstly, there is a strong emphasis on security and safety across various industries, driven by increasing concerns about crime, terrorism, and workplace incidents. Businesses in North America are investing in advanced surveillance solutions like VSaaS to protect their assets, employees, and customers. Secondly, the region has a highly developed IT infrastructure and a large base of technology-savvy businesses, making it ripe for the adoption of cloud-based solutions. VSaaS offers scalability, flexibility, and ease of deployment, making it particularly attractive to businesses in North America.
The key players operating in the VSaaS market are ADT (US), Johnson Controls (Ireland), Axis Communication AB (Sweden), Motorola Solutions, Inc. (US), Securitas AB (Sweden).
The research report categorizes the VSaaS market, By Type (Hosted, Managed, Hybrid), Feature (AI-enabled VSaaS, Non-AI VSaaS), AI Visual Analysis (Object Detection & Recognition, Intrusion Detection, Facial Recognition, Anomaly Detection), Use Case (Gun Detection, Industrial Temperature Monitoring, Smoke and Fire Detection, False Alarm Filtering, Vehicle Identification and Number Plate Monitoring, Parking Monitoring) Vertical (Commercial, Residential, Industrial, Infrastructure, Military & Defense, Public Facilities), Region (North America, Europe, Asia Pacific, and RoW).
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