VsaaS Market Outlook and Forecast Until 2029

 The Video Surveillance as a Service (VSaaS) market is a rapidly growing industry, driven by the increasing demand for cloud-based security solutions. The trend towards remote monitoring and real-time alerts, along with the growth of smart cities and the Internet of Things (IoT) has led to an increase in the use of VSaaS solutions.

 These solutions provide users with greater flexibility and scalability compared to traditional, on-premise video surveillance systems, and offer a range of benefits, such as lower upfront costs, reduced maintenance requirements, and improved accessibility. The global VSaaS market is expected to experience significant growth over the next few years, driven by a growing demand for advanced video surveillance technologies, such as facial recognition and predictive analytics.

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In 2021, the size of the global VSaaS market was estimated at $3.54 billion. The market is anticipated to expand at a CAGR of 18.2% from 2022 to 2029, rising from USD 4.09 billion in 2022 to USD 13.16 billion. According to our research, the global market for video surveillance as a service grew 14.1% on average in 2020 compared to 2019.

In our market analysis, we took into account a variety of VSaaS offerings from industry participants, including the MAXPRO Cloud from Honeywell International Inc., Stratocast from Genetec Inc., and the Avigilon Cloud Services (ACS) platform from Motorola Solutions Inc. The OpenEye Cloud-based Video Surveillance system from Alarm.com and the Eagle Eye Cloud VMS from Eagle Eye Networks Inc. are also covered in our study.

List of the Key Companies Profiled:

  • Canon Inc. (Japan)
  • Honeywell International Inc. (U.S.)
  • ADT Inc. (U.S.)
  • Motorola Solutions Inc. (U.S.)
  • Robert Bosch GmbH (Germany)
  • Alarm.com (U.S.)
  • Johnson Controls International Plc (Ireland)
  • Arcules Inc. (U.S.)
  • Genetec Inc. (Canada)
  • Eagle Eye Networks Inc. (U.S.)

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The benefits of the Video Surveillance as a Service (VSaaS) market include:

  • Lower upfront costs: VSaaS solutions are typically offered as a subscription-based service, eliminating the need for large upfront investments in hardware and infrastructure.
  • Increased flexibility: With cloud-based systems, users have the ability to access and manage their video surveillance from anywhere, at any time, and with any device.
  • Scalability: VSaaS solutions can be easily scaled up or down based on changing needs, eliminating the need for expensive hardware upgrades.
  • Improved accessibility: With cloud-based systems, video footage can be accessed and shared in real-time, providing users with greater situational awareness.
  • Enhanced security: With remote monitoring and real-time alerts, VSaaS solutions help to reduce the risk of theft, vandalism, and other security threats.
  • Advanced technologies: VSaaS solutions offer advanced technologies, such as facial recognition and predictive analytics, which can help to improve the accuracy and effectiveness of security systems.
  • Reduced maintenance requirements: With cloud-based systems, maintenance and support are typically handled by the service provider, reducing the burden on the user.

 

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Regional Analysis:

The market is geographically segmented into five key areas: North America, South America, Europe, the Middle East & Africa, and Asia Pacific.

Throughout the anticipated time, North America is most likely to hold the largest market share for VSaaS. In comparison to other locations, it is anticipated to produce the greatest cloud traffic. By 2023, the U.S. public cloud services market will be the largest, accounting for more than half of all public cloud spending worldwide, predicts IDC.

In the upcoming years, there will probably be an increase in demand for video surveillance as-a-service due to the growing uptake of smart home security cameras across North America. For example,

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