VSaaS Market (Updated Version Available)

Key Market Overview:

The VSaaS Market was valued at USD 4.09 Billion in 2022, registering a CAGR of 18.2% during the forecast period (2023-2030), and the market is projected to be worth USD 13.80 Billion by 2030.

Video Surveillance as a Service (VSaaS) is referred as cloud-based video surveillance system offering video recording, storage, management alert, remote viewing, and cybersecurity. VSaaS is used to collect, manage, and present clear and concise video. The service has wide application in various sectors such as commercial and residential buildings, banks and financial institutes, educational institutes, military, malls, hospitals, and retail stores.
Additionally, VSaaS comprises various features such as video recording and storage along with browser-based GUI, 3D mapping, alarm, and capability to investigate events. The service is compatible with iOS/android mobile having benefit of centralized storage in cloud, high resolution IP based cameras, online access to live video, video retention for 180 days, and video analytics. Increasing adoption of cloud-based computing system is driving the demand of VSaaS market.

Moreover, software-as-a-service (SaaS) aid to transform conventional video surveillance mode into VSaaS. Rising demand for real time surveillance in various industry verticals such as infrastructure, commercial and industrial sector is boosting the growth of VSaaS market. VSaaS provide remote access for data surveillance in various sectors such as military & defense, bank and financial institutes, tourist places, and others. Furthermore, major market players are introducing high resolution cameras and adopting advanced technologies to identify and analyze real time data. For instance, in September 2020, Amazon launched Blink outdoor and indoor camera, a wireless smart home security camera, in U.S. and Canada. The camera helps to monitor home security and offers 1080p HD video resolution, long battery life, IR night vision, and motion detector.

VSaaS Report Coverage:

Report Attributes	Report Details
Study Timeline	2017-2030
Market Size in 2030 (USD Billion)	13.8 billion
CAGR (2022-2030)	18.2 %
Base Year	2022
By Type	Hosted, Managed, and Hybrid
By Application	Commercial, Residential, and Industrial
By Geography	Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey] North America [United States, Canada, Mexico] Middle East & Africa [GCC, North Africa, South Africa] South America [Brazil, Argentina, Columbia, Chile, Peru]
Key Players	Honeywell International Inc., Axis Communications AB, Johnson Controls, ADT, Motorola Solutions Company, Securitas AB, Eagle Eye Networks Inc., Alarm.com, Robert Bosch GmbH, Pelco Inc., GeoVision Inc., D-Link Systems Inc., Genetec Inc.

Request Sample

Market Dynamics:

Driver:

Rising demand for real time surveillance data and increasing adoption of cloud-based computing system has augmented the growth of VSaaS market

Rising demand for real time surveillance data and increasing adoption of cloud-based computing system has augmented the growth of VSaaS market Increasing adoption of cloud-based computing system is promoting the demand of VSaaS market. For instance, in August 2022, Google LLC announced the expansion of coud services in Malaysia, Thailand, and New Zealand. Additionally, software-as-a-service (SaaS) aid to transform conventional video surveillance mode into VSaaS. Rising demand for real time surveillance in various industry verticals such as infrastructure, commercial and industrial sector is boosting the growth of VSaaS market.

Restraint:

Strict regulation for data privacy and security is hampering the growth of VSaaS market

Strict regulation for data privacy and security is hampering the growth of VSaaS market
Strict regulations are imposed for data privacy and security under privacy protection laws such as Federal Information Security Management Act (FISMA) in U.S. and General Data Protection Regulation (GDPR) in Europe. These laws are restricting VSaaS provider from misusing user\\\'s personal data. Thus, the strict regulations imposed for privacy and data security is hindering the growth of VSaaS market.

Virtual Tour Software Market Segmentation:



By Type:

The type segment is divided into Hosted, Managed, and Hybrid
Hosted segment accounted for major market share in VSaaS market in the year 2022 due to growing adoption of VSaaS for residential buildings and retail sector. Hosted VSaaS has improved from previously stated issues such as security and data privacy, resulting increasing demand of hosted VSaaS in IT industry. Additionally, rising penetration of smart cities in North America, Europe, and Asia Pacific region is propelling the adoption of VSaaS market.
Managed segment is anticipated to witness rapid growth of VSaaS market owing to ability of video surveillance to manage and view video remotely. Managed VSaaS helps to security incident response time and reduce security staffing cost.

By Application:

The application segment is categorized into Commercial, Residential, and Industrial.
Commercial segment captured largest revenue share for VSaaS market in the year 2022 due to rising adoption in various sectors such as banks and financial institutes, hospitality, retail, and others. VSaaS have high demand in banking and financial institutes to increase security and monitor the staff and customers.
Moreover, the segment is also expected to grow during forecast period due to rising demand for real time surveillance in various industry verticals including enterprises, retail stores, and banking institutes. Additionally, growing penetration of ATMs is boosting the growth of commercial segment of VSaaS market.

By Region

The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
North America holds major market share for VSaaS market in the year 2022 due to existence of large number of camera manufacturer resulting low cost of video surveillance system. Additionally, increasing adoption of smart home security cameras for video surveillance, fire & life safety protection, and motion detection, across U.S. and Canada has propelled the growth of VSaaS market in North America region. For instance, in May 2020, Mexico City implemented Eagle Eye Networks, surveillance camera, under cloud surveillance project.



Asia Pacific region demonstrate fastest growth in VSaaS market due rising number of smart cities in several countries such as China, India, and South Korea. For instance, according to World Economic Forum, in December 2020, China has built over 500 AI-based smart cities in the country.

VSaaS Market Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and application launches have accelerated the growth of the Global VSaaS Market. Key players in the market include-

• Honeywell International Inc.
• Axis Communications AB
• Johnson Controls
• ADT
• Motorola Solutions Company
• Securitas AB
• Eagle Eye Networks Inc.
• Alarm.com
• Robert Bosch GmbH
• Pelco Inc.
• GeoVision Inc.
• D-Link Systems Inc.
• Genetec Inc.

Recent Developments:

• In July 2022, Arcules collaborated with Canon Marketing Japan, to distribute hybrid video cloud solution for multi-site customers in Japan.

• In October 2021, Genetec Inc. collaborated with TELUS, to simplify video surveillance for SMEs in Canada. The partnership offers cost effective and flexible cloud computing system.