VSaaS Market Size Worth $ 16,466.00 Million By 2032 | CAGR: 15.8%

The global VSaaS market size is expected to reach USD 16,466.00 million by 2032, according to a new study by Polaris Market Research. The report “VSaaS Market Share, Size, Trends, Industry Analysis Report, By Type (Hosted, Managed, Hybrid); By Feature; By AI Visual Analysis; By Vertical; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The increasing crime rates worldwide are significantly driving the development of advanced infrastructure in both public and private areas, including surveillance cameras. The growing number of thefts, robberies, kidnaps, and other crimes are significantly boosting investments in closed-circuit televisions (CCTVs) in banks, traffic signals, and more. This is due to the efficiency of CCTVs in monitoring and recording videos all the time, enabling companies and the government to take quick action on the culprit.

Video surveillance as a service is gaining attention nowadays with its potential to save, record, play, and manage CCTV footage seamlessly. It provides more convenience by enabling users to have video access remotely from multiple devices.

The growing demand for advanced VSaaS systems in the marketplace is significantly supporting the need for research and new product innovations among companies. For instance, in October 2023, Milestone Systems announced its plan to unveil a new camera for its cloud-based VSaaS software, Cloud Milestone Kite, in the first quarter of 2024. This is compatible with companies that have multiple branches and fewer cameras.

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The rising collaborative efforts by the firms to accelerate product development activities with the increasing demand for global surveillance systems are supporting the VSaaS market growth in the world. For instance, in April 2024, Vivotek announced the launch of its VSaaS platform, Vortex, with the integration of Amazon Web Services and IoT Core, which saved time and research and development resources and enabled it to develop its product 12 months earlier.

The significant increase in traveling activities among households is exhibiting concerns about house safety and driving VSaaS adoption around the world. According to the Godrej Security Solutions survey in 2023, over 66% of the respondents revealed their adoption of CCTVs to safeguard their houses.

VSaaS Market Report Highlights

• Hosted segment is anticipated to witness the highest growth in the coming years due to scalability and convenience.
• Commercial segment accounted for the largest market share owing to the increasing concerns about data privacy.
• Object detection and recognition segment is projected to experience a larger revenue share due to the increasing thefts and other crimes in the business operations.
• APAC is projected to register the fastest growth during the forecast period, attributable to increasing government initiatives to promote public safety.
• The global players include Agent Video Intelligence, Axis Communications AB, Canary Connect, D-Link Systems, FLIR Systems, Genetec, & GeoVision.

Polaris Market Research has segmented the VSaaS market report based on type, feature, AI visual analysis, vertical, and region:

VSaaS, Type Outlook (Revenue - USD Million, 2019 - 2032)

• Hosted
• Managed
• Hybrid

VSaaS, Feature Outlook (Revenue - USD Million, 2019 - 2032)

• API-Enabled VSaaS
• Non-AI VSaaS

VSaaS, AI Visual Analysis Outlook (Revenue - USD Million, 2019 - 2032)

• Object Detection & Recognition
• Intrusion Detection
• Facial Recognition
• Anomaly Detection

VSaaS, Vertical Outlook (Revenue - USD Million, 2019 - 2032)

• Commercial
• Residential
• Industrial
• Infrastructure
• Military & Defense
• Public Facilities

VSaaS, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

VSaaS Market Report Scope