VSaaS Market to High CAGR During Forecast Year 2020-2030

VSaaS Market to surpass USD 6.7 Billion by 2030 from USD 2.7 billion in 2018 at a CAGR of 16.7% throughout the forecast period, i.e., 2019-30. The market is expected to be driven by a growing number of security issues at a global level, coupled with increased investment in sophisticated surveillance network growth. It is also expected that increased demand for traffic monitoring and intrusion detection will fuel market growth over the next six years. Technological development has led to improved surveillance cameras and related devices being developed. The VSaaS market is expected to be positively influenced by decreasing IT costs and centralized data management. The introduction of big data analytics tools is expected to provide companies operating in the industry with viable growth opportunities. Mobile video monitoring facilitates the display of data in real time, which provides the vSaaS industry with growth opportunities.

Video surveillance as a service (VSaaS) relates to cloud-based video surveillance that is hosted. Usually, the service includes video recording, storage, remote viewing, warnings for management, and cybersecurity. Video processing and management are carried out off-site using the cloud, although the VSaaS system can have a simple on-site interface that serves as a communication conduit to communicate with the cameras and the cloud. A video surveillance device can capture images and videos that can be compressed, saved, or sent over networks of communication.

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VSaaS Market: Key Players

  • Panasonic System Networks Co. Ltd.
  • 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., and
  • Canary Connect, Inc.

VSaaS Market: Segments

Hosted Segment to grow with the highest CAGR during 2019-30

VSaaS Market is segmented by Type into Hosted, Managed, and Hybrid. The greater market share in 2018 was accounted for by Hosted VSaaS due to the demand for VSaaS is driven by a growing concern among users about improving security, a rising number of government measures to improve public security, and ongoing improvements in infrastructure, including transport hubs. Furthermore, the growth of the VSaaS market is also driven by the rising number of smart cities and the growing importance of VSaaS for retail, SMBs, and residential applications. Growing mobile penetration in developing countries, coupled with technological developments in telecom networks, such as LTE availability and the growing 5G trend, and high-speed Internet access, are helping the host VSaaS market to expand further as high Internet speed is one of the fundamental requirements of service providers and consumers.

Military & Defense segment to grow with the highest CAGR during 2019-30

VSaaS Market is segmented by Industry into Commercial, Infrastructure, Residential, Public Facilities, Military & Defense, and Industrial. Based on industry, the commercial segment holds the largest share in 2018 owing to The VSaaS market is driven by the growing adoption of VSaaS in retail chains, residential apartments, small businesses, healthcare organizations, banks, government buildings, urban surveillance, and production sites. In order to improve protection, mitigate fraud, and minimize inventory loss, demand for VSaaS in the commercial vertical is growing. In recent years, the adoption of VSaaS in financial institutions and banks to track customers and employee activities has been growing, owing to the benefits provided by VSaaS, such as lower initial investments, flexibility in adding devices, and remote access to surveillance data. The growing adoption of VSaaS in the hospitality industry to recognize possible threats is also driving the commercial vertical demand for VSaaS.

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VSaaS Market: Market Dynamics

Drivers

Advancements in Video Analytics and AI Transforming

Within the VSaaS industry, there is a huge increase in demand for cloud-based services from different end-users. The growth can be attributed to various advantages of cloud-based systems, including among others, faster response times and remote monitoring. A development that is expected to continue throughout the forecast period is the adoption of cloud-based services. In the current video surveillance and VSaaS industry, stakeholders are optimistic that more research and technological developments would bring substantial changes to the VSaaS market.

Restraints

Privacy and hacking concerns regarding data usage

VSaaS provides information storage in the cloud. A multi-tenant network in which resources are shared is the cloud. It is also an external entity with the ability to access the data of a client. Users have been concerned about who is watching the video and how the video might be used or misused, as individuals expect their personal information to be used for legitimate and unique purposes only. Besides, cloud services are designed to allow users to back up their data in real-time that could be viewed, leaked, or stolen by unauthorized workers, or misused. This might limit the growth of the market for VSaaS.

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VSaaS Market report also contains analysis on:

VSaaS Market Segments:

  • By Type:
    • Hosted
    • Managed
    • Hybrid
  • By Industry:
    • Commercial
      • Retail Stores & Malls
      • Enterprises
      • Banking & Financial Buildings
      • Hospitality Centers
      • Warehouses
    • Infrastructure
      • Transportation & City Surveillance
        • Transportation
        • City Surveillance
      • Public Places
      • Utilities
    • Residential
    • Military & Defense
    • Public Facilities
      • Healthcare Buildings
      • Educational Buildings
      • Religious Places
      • Government Buildings
    • Industrial

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