VSaaS Market: Current Analysis and Forecast (2023-2030)

VSaaS is a cloud-based solution that offers video surveillance and monitoring capabilities to users. Instead of managing on-premises hardware and software for video surveillance, VSaaS allows users to access and manage their video feeds and security cameras through the internet using a web browser or a dedicated application.

The VSaaS Market was valued at 4.1 billion in 2022 and is expected to grow at a steady rate of around 18.1% in the forecasted period (2023-2030) owing to the growing adoption of cloud technology. Also, technological progress in camera quality, video compression, bandwidth availability, and data analytics has made VSaaS more effective and appealing to a wider range of industries. For instance, video compression techniques like H.265 (HEVC) became more prevalent, allowing for efficient streaming and storage of high-quality video feeds without consuming excessive bandwidth and storage resources.

Based on the type, the market is segmented into hybrid, hosted, and managed. Among these, the hosted segment is leading the market due to the rising demand of cost- effective way of installing and using the video surveilling technology. Moreover, the subscription-based pricing model of hosted VSaaS offers predictable monthly or annual expenses, making budgeting and financial planning more straightforward for businesses and henceforth providing the major contribution towards the growth of the market.

Based on the vertical, the market is segmented into commercial, infrastructure, residential, public facilities, military & defense, and industrial. Among these the commercial vertical is anticipated to hold the considerable share of the market. The rapid growth of Video Surveillance as a Service (VSaaS) within the commercial vertical can be attributed to several compelling factors like cost-efficiency, operational efficiency and scalability.

For a better understanding of the market adoption of the VSaaS industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Asia Pacific is expected to grow at a significant CAGR during the forecast period. Many countries in the APAC region are witnessing rapid urbanization and industrialization. This has led to increased demand for advanced surveillance solutions to ensure public safety, secure infrastructure, and manage urban environments effectively. Moreover, the region's economic growth has resulted in increased investment in infrastructure, commercial spaces, and residential developments. Businesses and governments are seeking modern surveillance solutions to protect their assets and maintain security in these expanding environments. Also, the APAC region has embraced technology at an impressive pace. Businesses and consumers are open to adopting innovative solutions, and VSaaS aligns well with this technological mindset.

Some of the major players operating in the market include: ADT.; Johnson Controls.; Axis Communications AB.; Motorola Solutions, Inc.; Arcules, Inc.; Comcast; Eagle Eye Networks.; Genetec Inc.; D-Link Corporation.; Teledyne FLIR LLC