Video Surveillance as a Service Market to grow by USD 4.94 billion from 2022 to 2027, Market Driven by the rise in urbanization and infrastructure development - Technavio

NEW YORK, Sept. 25, 2023 /PRNewswire/ -- The "Video Surveillance as a Service Market by solution (hosted, managed, and hybrid), end-user (commercial, industrial, and residential) and geography (North America, APAC, Europe, South America, and Middle East and Africa) - Forecast and Analysis 2023-2027" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the video surveillance as a service market between 2022 and 2027 is USD 4.94 billion. The rise in urbanization and infrastructure development is one of the key factors driving video surveillance as a service market growth. The upsurge in the proliferation of cities can lead to several new infrastructure projects and developments which, in turn, drives the demand for cutting-edge video surveillance solutions, especially cloud-based offerings. Further, there is a growing adoption of smart city concepts across urban areas to enhance efficiency, security, and quality of life. However, some of the main benefits of VSaaS in such infrastructures include offering real-time video monitoring of public spaces, traffic management, and emergency response systems. Also, cloud-based surveillance solutions deliver various cities the capacity to deploy and manage surveillance cameras across different locations thereby allowing law enforcement agencies to monitor and respond to incidents effectively and efficiently. Therefore, such factors are positively influencing the video surveillance as a service (VSaaS) market growth and are expected to fuel market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge 

One of the key challenges hindering video surveillance as a service market growth is the slow internet speed. The high cost of transmission of videos is one of the significant challenges in offering a hosted video service. Further, in order to transmit the videos, a high-speed internet connection is essential for both customers as well as third-party security agencies. Several broadband or high-speed Internet service providers deliver asymmetric connections whereas it is important for consumers to have high internet speed for uploading. Nevertheless, the major aspects that influence the speed of the Internet include optical fiber, available bandwidth, and satellite network connections. Therefore, the slow speed of the internet can adversely influence the video surveillance as a service (VSaaS) market. Thus, these factors are anticipated to impede market growth during the forecast period.

Learn about additional key drivers, trends, and challenges available with Technavio. Read Free Sample PDF Report Now

The video surveillance as a service market has been segmented by end-user (Commercial, Industrial, and Residential) and geography (North America, APAC, Europe, South America, and Middle East and Africa). 

• The hosted segment is estimated to witness significant growth during the forecast period. As hosted video surveillance solutions, several VSaaS providers in the market are providing all types of high-quality camera footage and security systems. The major advantages of the hosted solution segment are scalability, accessibility, and reduced maintenance burden. With various locations or for remote monitoring, this segment is extensively used for businesses. Numerous major hosted solution providers offer several robust security measures such as encryption, authentication, and redundancy, to protect your video data. Therefore, factors including scalability and ease of maintenance are anticipated to drive the growth of this segment which in turn will boost the market growth during the forecast period.                                                                                                                                   
• North America is estimated to account for 34% of the global market during the forecast period.

 View the Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the video surveillance as a service market:

ADT Inc., Advanced Control Corp., Avid Communications LLC, Camcloud Inc., Canon Inc., Cisco Systems Inc., Cloudastructure Inc., ControlByNet LLC, D Link Corp., Drive Headquarters Inc., Eagle Eye Networks Inc., Genetec Inc., Honeywell International Inc., Iveda Solutions Inc., Motorola Solutions Inc., Napco Security Technologies Inc., NW Security Group Ltd., Pacific Control Systems, Robert Bosch GmbH, and VIVOTEK Inc

Related Reports:

Global Video Surveillance Market size is estimated to grow by USD 28,796.25 million between 2022 and 2027 accelerating at a CAGR of 9.33% during the forecast period.

The smart security market size is estimated to grow at a CAGR of 16.57% between 2022 and 2027. The market size is forecast to increase by USD 33,670.79 million. 

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Solution

Market Segmentation by End-user 

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio