Video Surveillance-as-a-Service Market Size - By Type (Hosted, Managed, Hybrid), Organization Size (SMEs, Large Enterprises), Application (Security, Monitoring & Management, Smart City & IoT, Industrial & Critical Infrastructure), End User, Forecast, 2023-2032

Video Surveillance-as-a-Service Market Size - By Type (Hosted, Managed, Hybrid), Organization Size (SMEs, Large Enterprises), Application (Security, Monitoring & Management, Smart City & IoT, Industrial & Critical Infrastructure), End User, Forecast, 2023-2032

Video Surveillance-as-a-Service Market Size

Video Surveillance-as-a-Service Market size was valued at USD 3.5 billion in 2022 and is projected to grow at a CAGR of over 14.5% between 2023 and 2032, due to increasing investments in video surveillance system companies. Companies in the video surveillance sector are attracting significant funding, enabling them to develop advanced technologies and expand their services. For instance, in July 2023, Solink secured USD 60 million in funding during its Series C investment round. The investment was led by the growth equity business within the Goldman Sachs Asset Management with active participation from Solink’s current investors, OMERS Ventures, and the BDC IT Ventures.

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Remote accessibility is a pivotal factor propelling the video surveillance-as-a-service market growth. VSaaS enables users to access live or recorded video feeds from their surveillance cameras remotely via the internet. This remote accessibility empowers businesses and individuals to monitor their premises in real-time, enhancing security and situational awareness. Furthermore, the market is witnessing a surge in demand, driven by the rapid growth of the wireless video surveillance market and the increasing adoption of surveillance radar system solutions.

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Wireless technology has revolutionized the deployment and management of surveillance systems, offering enhanced convenience. Furthermore, the collaboration between VSaaS and surveillance radar systems has resulted in more comprehensive security solutions, enabling real-time monitoring and threat detection. This synergy underscores the market's growth, providing efficient, scalable, and versatile security options.

Security concerns are a significant challenge hindering the VSaaS market demand. Potential breaches, unauthorized access, or data theft incidents can erode user trust in cloud-based surveillance solutions. Ensuring robust encryption, data security protocols, and compliance with stringent privacy standards is essential for VSaaS providers. Building and maintaining customer confidence in the safety & integrity of their stored surveillance data is crucial to overcoming these security challenges and encouraging wider adoption of VSaaS technologies.

COVID-19 Impact

The COVID-19 pandemic had positively impacted the video surveillance-as-a-service (VSaaS) market. With the increased focus on health and safety protocols, businesses & public spaces have turned to VSaaS solutions to monitor occupancy, enforce social distancing, and enhance security measures. Remote access features have become crucial, enabling real-time monitoring of compliance. The pandemic accelerated the adoption of cloud-based surveillance as organizations started prioritizing flexible, scalable & contactless security solutions in the new normal, thereby driving market size.

Video Surveillance-as-a-Service Market Trends

The escalating demand for adaptable and scalable solutions is fueling substantial growth in the video surveillance-as-a-service industry. Businesses are gradually seeking flexible surveillance options that can expand or contract based on evolving needs. For instance, in October 2023, Milestone Systems, a video technology provider, revealed plans for an upcoming feature in its Milestone Kite VSaaS software, a new camera-to-cloud deployment option. This innovation aligns with Milestone’s commitment to adaptable and scalable solutions, catering to changing requirements in the surveillance industry. VSaaS addresses this demand by offering easily adjustable camera deployments and scalable cloud-based storage.

The demand for real-time analytics is driving the adoption of video surveillance-as-a-service market. Businesses are increasingly relying on VSaaS solutions with advanced video analytics capabilities to gain actionable insights from surveillance data. These insights empower organizations to enhance operational efficiency, understand customer behavior, and make data-driven decisions. Real-time analytics enable businesses to respond promptly to security incidents, optimize workflows & improve overall productivity, making VSaaS an essential tool for businesses looking to leverage valuable insights from their surveillance systems.

Video Surveillance-as-a-Service Market Analysis

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Based on type, the hosted segment is expected to register at a CAGR of around 13.5% during the forecast period, due to its robust security measures and seamless integration capabilities. Cloud-based hosting ensures data integrity through encryption and reliable backup solutions, enhancing system reliability for businesses. Additionally, hosted VSaaS platforms easily integrate with various security systems, access control, and business intelligence tools. This integration not only bolsters security but also streamlines operations, making it a preferred choice for businesses seeking scalable, secure & seamlessly integrated surveillance solutions.

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Based on end user, the commercial segment size dominated around USD 1.1 billion in 2022. Partnerships between firms for cloud and AI innovation in surveillance services are propelling the commercial end-user segment growth. Moreover, collaborations between tech companies enhance cloud-based solutions and implement AI algorithms, providing businesses with advanced analytics & efficient security measures.

For instance, in August 2023, Eagle Eye Networks, a cloud video surveillance company, teamed up with a prominent security integration company, ESSCOR to offer cloud video surveillance services. These services provide AI insights, security, cybersecurity assurance, and a positive return on investment for commercial businesses. Furthermore, businesses are also embracing digital transformation, favoring cloud solutions and managed services to enhance their security measures.

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North America video surveillance-as-a-service market share of over 35% in 2022, owing to rapid technological advancements in the region. The region serves as a focal point for innovation, fostering the development of cutting-edge cloud-based surveillance systems. These systems incorporate features such as artificial intelligence analytics and real-time monitoring, catering to the sophisticated demands of businesses & organizations. The continuous evolution of technology in North America also ensures that VSaaS solutions remain at the forefront, offering advanced capabilities that align with the dynamic security requirements of the market.

Video Surveillance-as-a-Service Market Share

Major companies operating in the video surveillance-as-a-service industry are

• Axis Communications
• Dahua
• Eagle Eye Networks
• Genetec
• Hikvision
• Ivideon
• Mobotix
• Nest (by Google)
• Netgear (Arlo)
• Verkada
• VIVOTEK

Hikvision and Axis Communications are prominent players in VSaaS market due to their extensive global presence, robust financial expertise, and comprehensive service offerings. Both companies are dedicated to advancing the capabilities of VSaaS, ensuring that clients have access to cutting-edge technology for their security and surveillance requirements. Their contributions include innovative product development, comprehensive system integration, and robust cloud-based solutions, thus playing a significant role in shaping the future of the market.

Video Surveillance-as-a-Service Industry News

• In September 2023, Verkada, a leading provider of cloud-managed enterprise building security, has joined forces with Convergint, a global service-based systems integration pioneer. Their collaboration, rooted in a mutual dedication to safety and customer satisfaction, leverages Convergint's extensive global presence and Verkada's top-notch technology. This partnership enables both entities to extend their services to a wider international customer audience, capitalizing on their combined strengths in the security and management solutions domain.

The video surveillance-as-a-service (VSaaS) market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments

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Market, By Type

• Hosted
• Managed
• Hybrid

Market, By Organization Size

• SMEs
• Large enterprises

Market, By Application

• Security
• Monitoring & management
• Smart city & IoT
• Industrial & critical infrastructure
• Others

Market, By End User

• Residential
• Commercial
• Enterprise
• Government & public sector

The above information has been provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Nordics
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Southeast Asia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • UAE
  • South Africa
  • Saudi Arabia   

Frequently Asked Questions (FAQ)

How big is the video surveillance-as-a-service market?

The market size of video surveillance-as-a-service reached USD 3.5 billion in 2022 and may record over 14.5% CAGR between 2023 and 2032, due to the increasing investments in video surveillance system companies worldwide.

Why is the commercial video surveillance-as-a-service industry growing?

The commercial end user segment exceeded USD 1.1 billion in 2022, owing to rising collaborations between tech companies to enhance cloud-based solutions and implement AI algorithms.

What factors are driving North America video surveillance-as-a-service market?

North America held over 35% of the market share in 2022, attributed to the rapid technological advancements in the region.

Who are the leading video surveillance-as-a-service industry players?

Some of the major video surveillance-as-a-service companies include Axis Communications, Dahua, Eagle Eye Networks, Genetec, Hikvision, Ivideon, Mobotix, Nest (by Google), Netgear (Arlo), Verkada, and VIVOTEK.