A newly released VSaaS Market analysis report by Future Market Insights reveals that global sales of the VSaaS Market in 2021 were held at USD 7.6 Billion. With 9.6% projected growth from 2022 to 2032, the market is expected to reach a valuation of USD 21.1 Billion by 2032. Hosted VSaaS is expected to be the highest revenue-generating category, projected to register a CAGR of 9.1% from 2022 to 2032.
| Attributes | Details |
|---|---|
| Global VSaaS Market Size (2022) | USD 8.5 Billion |
| Global VSaaS Market Size (2032) | USD 21.1 Billion |
| Global VSaaS Market CAGR (2022 to 2032) | 9.6% |
| USA VSaaS Market Size (2032) | USD 7.4 Billion |
| USA VSaaS Market CAGR (2022 to 2032) | 9.3% |
| Key Companies Profiled | Genetec Inc.; D-Link Systems Inc.; GeoVision Inc.; Agent Video Intelligence Ltd.; Pelco Inc.; Robert Bosch GmbH; Axis Communications AB; FLIR Systems Inc.; NETGEAR Inc.; Homeboy Inc.; Canary Connect Inc. |
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As per the VSaaS Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2015 to 2021, the market value of the VSaaS Market increased at around 10.6% CAGR.
The expanding prevalence of do-it-yourself surveillance footage for home safety, along with the increasing usage of smart devices, is offering significant potential for VSaaS service providers in the market. Smartphone prevalence has increased in recent years in China, the USA, the United Kingdom, India, and Japan, owing to lower prices, technological breakthroughs, and enhanced usefulness. The growing utilization of smart devices has opened up new prospects for VSaaS providers. By providing VSaaS compatible with various devices, service providers are expected to expand their market share. The introduction of innovative Internet protocol digital technologies to identify and prevent undesired behavior such as stealing, robberies, vandalism, and terror acts is predicted to boost the expansion of the video surveillance market.
Axis Communications confirmed the delivery of a standard open-source platform as part of a video authentication initiative, which would bring accessible authentication & video validation capabilities to the video surveillance sector. Axis uses signed video to achieve this approach in its cameras. The open-sourced reference design may be utilized by security camera makers and video software solution suppliers as a simple way to verify the validity of video footage without having accessibility to the camera and operating even when the camera is turned off.
One of the primary drivers of VSaaS market growth is the growing need for actual monitoring data throughout commercial and infrastructural sectors. Users with different company locations also require real-time network connectivity to surveillance data in order to maintain an eye on the location from afar. Smart cities also use systems of sensing devices to collect data and arrange system reactions to issues as they happen, as well as to optimize operations like traffic flow. The growing desire for remote monitoring for monitoring data at any time is allowing the VSaaS industry to expand globally since it provides real-time access to video footage on any device located anywhere.
Neurala, a provider of visual AI software, formed a partnership alongside FLIR Systems Inc. to develop an AI-based industrial image solution that includes both software and hardware. Neurala and FLIR have teamed together to provide businesses wishing to apply deep learning to the production process with a speedier, and more cost-effective entry point. This happened at a time when businesses are looking to AI and automation to help them deal with production restrictions, supply chain interruptions, and sporadic worker availability. Customers may use Neurala's Brain Builder on the VIA network to quickly develop deep neural networks without any data and any AI experience. By using the free FLIR Spinnaker SDK, the models may be instantly attached to a FLIR Firefly DL camera.
The latest Autodome IP starlight 5100i IR motion camera from Bosch does have new 1/1.8-inch sensors with 4-megapixel quality and 30x optical zoom. It has HDR X, starlight technologies, and dual illumination using IR and white lighting to capture photographs that may identify people or things for identification or evidence. When not in use, the camera's built-in artificial intelligence assists operators with object recognition in areas of interest, enhancing safety in city monitoring and perimeter security applications. It is designed for outdoor use and incorporates an automated rain-sensing wiper to keep pictures clear in rainy circumstances. It is weatherproof (IP66) and vandal-resistant (IK10).
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During the projected timeframe, the VSaaS market in Asia Pacific is expected to develop at the fastest rate. The growth of smart cities in the region will promote the regional adoption of VSaaS solutions. To improve efficiency, advanced video surveillance systems have been integrated with city management. Yinchuan, China, is an innovative smart city where everything is connected to a uniform system, from buses to trash cans. In China, over 1.65 Million theft offenses were reported in 2020. In China, cameras are typically installed in public settings and are subsidized by the government in order to provide comprehensive video surveillance coverage.
The USA is expected to account for the highest market of USD 7.4 Billion by the end of 2032. The existence of a wide number of camera manufacturers, as well as the relatively inexpensive video surveillance systems, give chances for the VSaaS industry to grow. Government measures to improve safety and infrastructural development in the region are also driving demand for VSaaS.
Eagle Eye LPR is a real cloud-based system that uses artificial intelligence for high accuracy in a variety of challenging circumstances. Eagle Eye LPR is based on common security cameras, making it both inexpensive and useful for today's company owners. Many manufacturers' LPR equipment, including cameras, are supported by Eagle Eye Networks. Eagle Eye Networks uses an open approach that allows clients to make their own decisions. Cameras and other LPR technology will continue to be supported by the Eagle Eye Cloud VMS.
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Hosted VSaaS segment is forecasted to grow at the highest CAGR of over 9.1% from 2022 to 2032. An increasing concern amongst users about enhancing security, growing government efforts to promote public security, and continuous improvements in infrastructure, especially transportation hubs, is driving the use of hosted VSaaS. The rise of smart cities as well as the growing relevance of VSaaS for commercial, SMBs, and household applications are further propelling the VSaaS market forward.
In the last several years, hosted VSaaS has seen a substantial improvement in terms of usage. This is owing to the fact that IP camera sales have penetrated the market. The Hosted VSaaS segment's growth is aided by significant causes such as IT controlling costs by large IT firms, the rise of data centers, and better features connected with centralized data.
Wasabi Technologies, a cloud-based business, announced a partnership with Axis Communication, the company in network video, to provide cloud services to AXIS Cameras Stations VMS. This solution combines the power of Axis' business video technology with Wasabi's virtually limitless application performance and disruptively low, dependable cost to assist organizations in optimizing their modern surveillance camera deployments and managing evolving elevated environments and longer storage periods. Efficient network cameras and analytical applications are recording more video than ever before, necessitating a storage capacity expansion. However, many firms struggle to secure the resources and connectivity required to properly and cost-effectively preserve their video.
The Commercial segment is forecasted to grow at the highest CAGR of over 9.1% from 2022 to 2032. In 2021, the commercial vertical held a significant share of the VSaaS demand. The rising usage of VSaaS in warehousing, hospitality centers, banks & financial institutions, companies, malls, and retail outlets is credited with a large market share. The strong adoption is attributed to a growing need for VSaaS services across business sectors to prevent thefts, improve security, and reduce inventory losses.
Among the leading players in the global VSaaS market are ADT Inc, ALARM.COM, Arcules, Arlo Technologies, Avigilon, a Motorola Solutions Company, Axis Communications AB, Bosch Security Systems, LLC, Brivo, Inc., Cisco Systems, Inc., Comcast Corporation, Duranc Inc, Eagle Eye Networks, Inc, and Genetec Inc.
Similarly, recent developments related to companies in VSaaS services have been tracked by the team at Future Market Insights, which are available in the full report.
The global VSaaS Market is worth more than USD 7.6 Billion at present.
The value of the VSaaS Market is projected to increase at a CAGR of around 9.5% from 2022 to 2032.
The value of the VSaaS Market increased at a CAGR of around 10.6% from 2015 to 2021.
Key drivers fueling multi-brand retail industry development are greater infrastructure expenditure, as well as growing usage of enhanced surveillance in the government and manufacturing sectors.
The market for VSaaS Market in the USA is projected to expand at a CAGR of around 9.3% from 2022 to 2032.
1. Executive Summary 2. Market Overview 3. Market Risks and Trends Assessment 4. Market Background and Foundation Data Points 5. Key Success Factors 6. Global Market Demand Analysis 2015 to 2021 and Forecast, 2022 to 2032 7. Global Market Value Analysis 2015 to 2021 and Forecast, 2022 to 2032 8. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Type 8.1. Hosted 8.2. Managed 8.3. Hybrid 9. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Vertical 9.1. Residential 9.2. Military and Defense 9.3. Industrial 9.4. Commercial 9.4.1. Retail Stores & Malls 9.4.2. Enterprises 9.4.3. Banking & Financial Buildings 9.4.4. Hospitality Centers 9.4.5. Warehouses 9.5. Public Facilities 9.5.1. Healthcare Buildings 9.5.2. Educational Buildings 9.5.3. Religious Places 9.5.4. Government Buildings 9.6. Infrastructure 9.6.1. Transportation & City Surveillance 9.6.1.1. Transportation 9.6.1.2. City Surveillance 9.6.2. Public Places 9.6.3. Utilities 10. Global Market Analysis 2015 to 2021 and Forecast 2022 to 2032, By Region 10.1. North America 10.2. Asia Pacific 10.3. Europe 10.4. ROW 11. North America Market Analysis 2015 to 2021 and Forecast 2022 to 2032 12. Latin America Market Analysis 2015 to 2021 and Forecast 2022 to 2032 13. Europe Market Analysis 2015 to 2021 and Forecast 2022 to 2032 14. Asia Pacific Market Analysis 2015 to 2021 and Forecast 2022 to 2032 15. Middle East and Africa Market Analysis 2015 to 2021 and Forecast 2022 to 2032 16. Key Countries Market Analysis 2015 to 2021 and Forecast 2022 to 2032 17. Market Structure Analysis 18. Competition Analysis 18.1. ADT 18.2. Johnson Controls 18.3. Axis Communications AB 18.4. Avigilon 18.5. a Motorola Solutions Company 18.6. Stanley Black & Decker 18.7. Alarm.com 18.8. Arcules 18.9. Comcast 18.10. Duranc 18.11. Eagle Eye Networks 18.12. Genetec 18.13. Honeywell Commercial Security 18.14. Pacific Controls 19. Assumptions and Acronyms Used 20. Research Methodology
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