Video Surveillance as a Service (VSaaS) has emerged as a dynamic and rapidly growing sector within the global security and surveillance industry.

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Global VSaaS Market Size and Share:

The VSaaS market has witnessed robust growth, driven by advancements in technology, increased awareness of security concerns, and the growing adoption of cloud-based solutions. According to MarketsandMarkets latest market research report, the global VSaaS market size is projected is projected to reach USD 7.6 billion by 2027, growing at a CAGR of 18.0% during the forecast period.

Hosted VSaaS is expected to hold high market share during the forecast period. The high market share is credited to growing adoption of VSaaS across residential, SMBs, and retail sector coupled with increasing penetration of smart cities across North America, Europe and Asia Pacific regions. Additionally, increasing penetration of smartphones, the commercialization of 5G services and the availability of high-speed Internet are helping the market for hosted VSaaS to grow further, as high internet speed is one of the basic requirements of service providers and customers. Decreasing cloud storage costs have lowered subscription costs, which has resulted in an increase in users of hosted video services across verticals.

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The market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. The growth is driven by increasing number of smart cities in China, South Korea, and India. In a December 2020 press release by the World Economic Forum, China has built around 500 AI-powered smart cities in the country. The proliferation of smart cities will further increase the penetration of VSaaS solutions and services in the region.

VSaaS Market Statistics and Trends:

The report incorporates detailed statistics that provide a granular understanding of the VSaaS market's dynamics. These statistics include historical data, current trends, and future projections, offering stakeholders valuable insights for strategic decision-making. The growth trends highlight the shift towards integrated, AI-driven solutions, as businesses seek to enhance their security measures with intelligent video analytics and real-time monitoring capabilities.

Key Companies in Global VSaaS Market

Some of the major VSaaS companies are ADT (US), Johnson Controls (Ireland), Axis Communications AB (Sweden), Avigilon, a Motorola Solutions Company (Canada), Alarm.com (US), Arcules, Inc. (US), Securitas AB (Sweden), Comcast Corporation (US), Duranc Inc (US), Eagle Eye Networks, Inc. (US), Genetec Inc. (Canada), and Honeywell International Inc. (US).

VSaaS Market Growth Analysis:

The growth of VSaaS industry is driven by factors such as the low cost of investment, the rise in demand for real-time surveillance data, and flexible scalability offered by VSaaS.

Hybrid VSaaS is expected to grow at high rates over the forecast period. The growth is driven by the combined benefits of on-premise video recording and managed video services, providedby hybrid VSaaS. In hybrid VSaaS, the recorded data is stored at both, the customer and service provider’s end; the main reason for the popularity of this model is concerns regarding the security of data.