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Video Surveillance As A Service (VSaaS) Global Market Report 2022

Video Surveillance As A Service (VSaaS) Global Market Report 2022

  • March 2022
  • 175 pages
  • ID: 6246489
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the video surveillance as a service (VSaaS) market are ADT Security Services Inc., Axis Communications AB, Brivo Inc., Cisco, Honeywell International Inc, Genetec Inc., Camcloud Inc., CameraFTP Service, Cloudastructure Inc., Duranc Inc., Eagle Eye Networks Inc., IVIDEON Inc., Mobotix AG, Pacific Control Systems LLC, Timetec Cloud Sdn Bhd, Johnson Controls, Avigilon, Stanley Black & Decker Inc., Panasonic, Hikvision, IndigoVision Group plc., Verint Systems Inc., MIRASYS and Ozvision.

The global video surveillance as a service market is expected to grow from $2.93 billion in 2021 to $3.55 billion in 2022 at a compound annual growth rate (CAGR) of 21.2%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The market is expected to reach $7.23 billion in 2026 at a CAGR of 23.5%.

The video surveillance as a service (VSaaS) market consists of sales of VSaaS services by entities (organizations, sole traders, and partnerships) that are engaged in providing cloud-based video surveillance services.Video surveillance as a Service, or VSaaS, is a cloud-based security system that allows users to access their Internet Protocol (IP) cameras from anywhere through any computer and have access surveillance video conveniently.

The service typically includes video recording, storage, remote viewing, management alerts and others.

The main types of video surveillance as a service (VSaaS) are IP-based and analog.IP-based surveillance cameras are a part of video management systems (VMS) that allow for live streaming, recording, and retrieval of video footage.

The different types of services include managed, hybrid, hosted. It is implemented in various verticals such as industrial, residential, military and defense, institutional, public facilities, commercial and others.

Asia Pacific was the largest region in the video surveillance as a service (VSaaS) market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The development of smart cities is expected to propel the growth of the video surveillance as a service (VSaaS) market in the coming years.A smart city employs information and communication technology (ICT) to boost operational performance, exchange data with the public, and enhance government service and resident protection.

Governments all over the world have lofty goals for making communities smarter and better for people and travelers.Smart cities are implementing intelligent video monitoring to help emergency responders respond more quickly in real-time or to detect and handle possible accidents to minimize crime.

For instance, in 2019, the Indian government has committed to creating 100 smart cities, and as part of the $14 billion plan, 99 cities have already been announced. Therefore, the development of smart cities drives the growth of the video surveillance as a service (VSaaS) market.

The growing technological advancements are gaining popularity in the video surveillance as a service (VSaaS) market.Major companies operating in the VSaaS sector are focused on developing technological solutions for video surveillance as a service (VSaaS) to enhance security management.

For instance, in August 2019, Johnson Controls, a US-based video surveillance company introduced Tyco Cloud, a new cloud-based security platform designed to assist consumers in migrating expensive and complex security infrastructure for access control and video monitoring to the cloud.Tyco Cloud enables users to secure lives, assets, and facilities by managing access control, video monitoring, and other security operations through secure cloud services and connected devices including cloud cameras and controllers.

Also, in 2020, US based data communications company, Motorola Solutions launched a new product in its video security and analytics portfolio, the H4 Thermal Elevated Temperature Detection (ETD) Solution, which can be used to detect elevated body temperature in a person and focus on the key elements of safety and security around COVID-19, including prevention, protection, and response.

In March 2020, Motorola Solutions, a US-based data communication company acquired IndigoVision for $37.2 million. IndigoVision’s access to Motorola Solutions’ innovative technologies will open up new markets for the company, enabling it to offer an intriguing proposition to the public that will aid them in achieving its mission of providing defense, security, and business intelligence. IndigoVision is a UK-based provider of end-to-end video security solutions.

The countries covered in the video surveillance as a service (VSaaS) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

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