Video Surveillance As A Service (Vsaas) Market Size USD 5554.5 Million by 2026 at CAGR 12.5% | Valuates Reports
07 Dec, 2020, 20:00 IST
BANGALORE, India, Dec. 7, 2020 /PRNewswire/ -- The Video Surveillance As A Service (Vsaas) Market is Segmented by Type (Software System, Hardware Devices), Application (Residential, Retail, Enterprise, Transport, Hotel, Other), Key Vendors and Regional Growth: Global Opportunity Analysis and Industry Forecast, 2019–2026. This report is published on Valuates Reports in the Security Products & Services Category.
The Global Video Surveillance as a service market size is projected to reach USD 5554.5 Million by 2026, from USD 2743.7 Million in 2020, at a CAGR of 12.5% during 2021-2026.
Major factors driving VSaaS Market size are low cost of investment, rise in demand for real-time surveillance data, and flexible scalability offered by VSaaS. Furthermore, the presence of several camera manufacturers and the availability of low-cost video surveillance systems and services drive the growth of the VSaaS market size.
The commercial vertical is expected to lead the Video Surveillance as a Service market during the forecast period due to the increasing adoption of VSaaS in retail chains, residential apartments, small businesses, healthcare organizations, banks, government buildings, city surveillance and manufacturing sites, among others.
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TRENDS INFLUENCING THE VSaaS MARKET SIZE
The low cost of investment associated with VSaaS is expected to drive the VSaaS market size. In VSaaS, video data is handled at a substantially low cost by service providers. The data is processed in the cloud, which means physical data storage devices and personnel are also not needed. This, in turn, eliminates a considerable amount of IT staff costs, including wages, benefits and other related costs.
The emerging trends toward the development of smart cities are expected to propel the growth of the VSaaS market size. Smart cities rely on the integrated use of Big Data, IoT and other innovations to generate actionable insights and better decision-making. Video-based smart city applications include traffic management and traffic monitoring. Surveillance cameras can monitor vehicles and humans' movement on the roads and provide data on congested areas, peak-time traffic, foot traffic counts, car counts, and can even influence traffic control systems.
Furthermore, the Integration of VSaaS with access control and alarm systems is expected to fuel the VSaaS market size. The VSaaS device can be more efficient when used with access control and alarm systems. The incorporation of VSaaS with access control systems is likely to increase the safety of end-users, as only approved staff would be able to enter the premises.
The rise in need of safety in high-risk areas is expected to drive the growth of the VSaaS Market size. With the surge in crime rates, antisocial behavior, and terrorist attacks, the government has introduced VSaaS technologies and strategies to ensure public safety and security. This, in turn, is expected to drive the demand for the VSaaS market.
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VSaaS MARKET SHARE ANALYSIS
North America is expected to hold the largest VSaaS market share during the forecast period due to high adoption among the population.
Asia Pacific region is expected to exhibit the highest CAGR of 14.7% during 2019-2026. This rapid growth is attributed to the increasing installation of surveillance equipment in China and India, as well as increased expenditure on infrastructure in the region.
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VSaaS MARKET SEGMENTATION
VSaaS Market segment by Type, the product can be split into
- Software System
- Hardware Devices
VSaaS Market segment by Application, split into
VSaaS Market segment by Regions/Countries, this report covers
- North America
- Southeast Asia
- Central & South America
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SIMILAR REPORTS :
- IP Video Surveillance And Vsaas Market - The global IP video surveillance and VSaaS market size was valued at USD 18.51 Billion in 2018 and is projected to reach USD 52.98 Billion by 2026, registering a CAGR of 12.9% from 2019 to 2026.
Major factors driving the growth of IP Video Surveillance And Vsaas Market size are a rise in need of safety in high-risk areas, growth in the transition from analog surveillance to IP cameras, and integration of the Internet of things.
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- Mobile Video Surveillance Market - Mobile Video Surveillance Market Size, Share, Trends, Growth, Industry Analysis, Forecast 2020 to 2026. The Report contains segmentation by Type ( Hardware (Cameras, Storage Solutions), Software (Video Analytics, VMS)), by Application (Trains & Trams, Buses, Transport Vehicles, Police Cars, Drones) and Regional Opportunity Analysis and Industry Forecast.
The global Mobile Video Surveillance market size is projected to reach USD 1908.2 Million by 2026, from USD 1401.9 Million in 2020, at a CAGR of 5.3% during 2021-2026.
- Video Analytics Market - Video Analytics Market by Component (Software and Services), Deployment (Cloud and On-Premises), Organization Size (Small & Medium Enterprises and Large Enterprises), and Application (Retail, Healthcare, BFSI, Transportation & Logistics, Government, Manufacturing, Mining, and Others): Opportunity Analysis And Industry Forecast, 2020–2027
The video analytics market size was valued at USD 4.10 billion in 2019 and is projected to reach USD 20.80 billion by 2027, growing at a CAGR of 22.7% from 2020 to 2027.
- Smart Home Monitoring and Security Market- Smart Home Monitoring and Security Market Size, Share, Trends, Growth, Industry Analysis, Forecast 2020 to 2026. The Report contains segmentation by Type ( Macro, Small, Pico, Femto), by Application (Smart Home, Autonomous Driving, Smart Cities, Industrial IoT, Smart Farming, Other) and Regional Opportunity Analysis and Industry Forecast.
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"Need for effective and authorized access to physical and logical resources due to increasing instances of crime rates is one of the factors largely attributing to the growth of the Global Access Control Market"
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