Video Surveillance-as-a-Service Market Overview
The Video Surveillance-as-a-Service Market Size is expected to reach USD 13.47 Billion by 2033. The Video Surveillance-as-a-Service industry size accounted for USD 4.01 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 14.74% from 2023 to 2033. The increasing trend of VSaaS use in the commercial sector is credited with this growth. Furthermore, the reduced maintenance, total installation and ownership costs of VSaaS typically contribute to its acceptance. The cost of owning a complete video surveillance system is reduced by VSaaS in terms of capital outlay, power costs, and IT staffing.The increasing frequency of cybercrimes, which has led to the deployment of various surveillance techniques, is anticipated to drive the VSaaS Market in the coming years. Over the coming years, the expansion of the video surveillance-as-a-service industry is anticipated to be further impacted by the cost-benefit of VSaaS over traditional video surveillance.
Global Video Surveillance-as-a-Service Market Synopsis
COVID-19 Impact Analysis
The COVID-19 pandemic significantly impacted the Video Surveillance-as-a-Service (VSaaS) market, driving increased adoption due to heightened security concerns and the need for remote monitoring. The pandemic accelerated the shift from analog to IP cameras, enhancing the market’s growth potential. Despite challenges such as supply chain disruptions and implementation delays, the market has continued to expand, supported by the declining cost of IP cameras and the rising demand for cloud-based surveillance solutions
Video Surveillance-as-a-Service Market Dynamics
The major factors that have impacted the growth of Video Surveillance-as-a-Service are as follows:
Drivers:
Ø rising internet of things of advanced technology
The increasing trend of VSaaS use in the commercial sector is credited with this growth. Furthermore, the reduced maintenance, total installation and ownership costs of VSaaS typically contribute to its acceptance. The cost of owning a complete video surveillance system is reduced by VSaaS in terms of capital outlay, power costs, and IT staffing.The increasing frequency of cybercrimes, which has led to the deployment of various surveillance techniques, is anticipated to drive the VSaaS Market in the coming years. Over the coming years, the expansion of the video surveillance-as-a-service industry is anticipated to be further impacted by the cost-benefit of VSaaS over traditional video surveillance.
Restraint:
- Rising interest in prime smart cities and advanced
This market is growing due in part to growing interest in premier smart cities and sophisticated local CAPEX & OPEX model implementation. Also, the organizations have been upgraded by swiftly implementing them with extremely low or fewer installation costs and also reinforced in the primary investments due to the growing competition that is developed by major and numerous local players in the global market platform. This has also increased the risk for the primary OEM in the market.
Opportunity:
⮚     Technological Advancements
Ongoing advancements in camera technology, such as higher resolution cameras and improved night vision capabilities, enhance the effectiveness of VSaaS solutions. These technological improvements can attract more users by providing better performance and reliability​
Video Surveillance-as-a-Service Segment Overview
By System Type
Based on System Type, the market is segmented based on Hosted, Managed, Hybrid. Among these, hybrid systems dominate the market due to their ability to combine the flexibility and scalability of cloud solutions with the control and reliability of on-premises systems​
By Application
Based on Applications, the market has been divided into the Commercial, Infrastructure, Residential, Military & Defense, Institutional, Industrial. The Video Surveillance-as-a-Service (VSaaS) market, segmented by applications, sees the commercial sector dominating due to the high demand for security solutions in retail, banking, and corporate environments. This is followed closely by the infrastructure and residential sectors, which are also significant contributors to market growth​
Global Video Surveillance-as-a-Service Market Regional Analysis
Based on region, the global Video Surveillance-as-a-Service market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is projected to dominate the use of the Video Surveillance-as-a-Service market followed by the Asia-Pacific and Europe regions.
Video Surveillance-as-a-Service North America Market
North America holds a dominant position in the Video Surveillance-as-a-Service Market. The Video Surveillance-as-a-Service (VSaaS) market in North America is experiencing significant growth, driven by the widespread adoption of cloud computing and advanced analytics across various sectors. North America accounted for over 34% of the global market revenue in 2022, with the U.S. and Canada being key contributors. The high penetration of cloud technologies, coupled with the increasing demand for enhanced security and real-time surveillance, has bolstered the market in this region.
Video Surveillance-as-a-Service Asia-Pacific Market
The Asia-Pacific region has indeed emerged as the fastest-growing market for the Video Surveillance-as-a-Service industry. The Video Surveillance-as-a-Service (VSaaS) market in the Asia-Pacific region is experiencing rapid growth due to several factors. The region’s rapid urbanization and economic development have driven increased investments in security and surveillance infrastructure. Additionally, the widespread adoption of digital technologies and advancements in cloud computing have made VSaaS more accessible and cost-effective for businesses of all sizes. Rising concerns about safety, security, and regulatory compliance further drive the demand for modern surveillance solutions, including VSaaS, to address evolving security threats and operational challenges
Competitive Landscape
The global Video Surveillance-as-a-Service market is highly competitive, with numerous players offering a wide range of software solutions. The competitive landscape is characterized by the presence of established companies, as well as emerging startups and niche players. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as System Type launches, and strategic alliances.
Prominent Players:
- Axis Communications
- Honeywell Security
- ADT Security Services
- Duranc
- Cloudastructure
- Genetec
- Nest Labs
- Pacific Controls
- Ivideon
- SMARTVUE CORPORATION
Key Development
In September 2022, Axis Communications introduced the next-generation models of its M11 series box cameras, specifically the Axis M1137 Mk II and M1135 Mk II. These cameras feature enhanced image quality and offer 2 MP and 5 MP resolutions, respectively. They come with built-in microphones for audio recording, catering to the evolving needs of indoor surveillance​
Scope of the Report
Global Video Surveillance-as-a-Service Market, by System Type
- Hosted
- Managed
- Hybrid
Global Video Surveillance-as-a-Service Market, by Application
- Commercial
- Infrastructure
- Residential
- Military & Defense
- Institutional
- Industrial
Global Video Surveillance-as-a-Service Market, by Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Benelux
- Nordic
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Indonesia
- Austalia
- Malaysia
- India
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of Middle East & Africa
| Parameters | Indicators |
|---|---|
| Market Size | 2033: $13.47 Billion/strong> |
| CAGR | 14.74% CAGR (2023-2033) |
| Base year | 2022 |
| Forecast Period | 2023-2033 |
| Historical Data | 2021 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Segmentations | System Type, Application |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, Middle East, Africa |
| Key Vendors | Axis Communications, Honeywell Security, ADT Security Services, Duranc, Cloudastructure, Genetec, Nest Labs, Pacific Controls, Ivideon, SMARTVUE CORPORATION |
| Key Market Opportunities | • Rising interest in prime smart cities and advanced implementation of local CAPEX & OPEX models also contribute to fueling the spread of this market. |
| Key Market Drivers | • The key drivers behind the progress of the global video surveillance as a service market are swelling adoption of high-end cameras and the budding internet of things technology in various sectors. |
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Video Surveillance-as-a-Service market trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities in the future
- Video Surveillance-as-a-Service market historical market size for the year 2021, and forecast from 2023 to 2033
- Video Surveillance-as-a-Service market share analysis at each System Type level
- Competitor analysis with detailed insight into its System Type segment, Government & Defense strength, and strategies adopted.
- Identifies key strategies adopted including System Type launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
- To identify and understand the various factors involved in the global Video Surveillance-as-a-Service market affected by the pandemic
- To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, System Type offering, recent developments, SWOT analysis, and key strategies.
