The Video Surveillance as a Service market was valued at USD 1.54 Billion in 2017 and is expected to reach USD 10.07 Billion by 2026 growing at a high compound annual growth rate (CAGR) of 23.20% from 2018 to 2026. With the rise in internet penetration and decreasing cost of internet connection, the demand for video surveillance as a service (VSaaS) is increasing at a significant rate. In addition, rising demand for remote accessibility services and accessing real time data through software and app-based platforms is further expected to drive the demand for video analytics across several industry verticals. Furthermore, growing awareness towards effective manpower handling across end-user verticals and technological advancement in video surveillance industry such as introduction of IoT and smart camera authentication is further expected to drive the global video surveillance service market during the forecast period.
The Video Surveillance as a Service (VSaaS) market has been segmented based on component which is further divided into hardware, services and software. Based on end-user, the market has been segmented into BFSI, healthcare, government residential, defense, industrial and others. Government segment is expected to be the highest demand holder for video analytics software and applications owing to the below mentioned factors. Increasing demand for road safety and improved employee management techniques through intelligent video analytics is expected to create massive demand for video surveillance components across government authorities. In addition, governments across financially emerging nations are increasingly spending towards providing secured and high-end amenities to their citizens though developing smart cities with advanced monitoring and controlling systems. Growing public spending towards developing stringent security models at airports, railways stations and public institutions is further expected to drive the global video surveillance service market during the forecast period.
The global Video Surveillance as a Service market has been geographically segmented into Asia-Pacific, Europe, North America, Latin America, the Middle East and Africa region. In addition to this, North America region holds the largest market share. The reason may be attributed to the greater technological reach towards cloud-based video surveillance and greater acceptance of video monitoring services across the industry verticals such as healthcare, automotive, manufacturing and others. In addition, advance military training and development system coupled with strict naval surveillance infrastructure have increased the demand for video surveillance service market across the North America region. However, Asia-Pacific region is expected to witness significant growth during the projection period. Entrance of regional manufacturers of video surveillance components with competitive pricing and increasing demand for construction of residential complexes and public buildings across the developing countries of Asia-Pacific region such as China, India and South Korea is expected to create ample opportunities for Asia-Pacific. These are the factors expected to drive the intelligent video analytics market in this region during the forecast period
Some of the key players in the global Video Surveillance as a Service (VSaaS) market include Bosch Security Systems, Brivo, Camcloud Inc., Cisco Systems, Inc., Eagle Eye Networks, Inc., Envysion, Inc., Genetec Inc., Geovision Inc., Hikvision, Honeywell International Inc. and Nest Labs, Inc.
· North America
o Rest of Europe
· Asia Pacific
o Rest of Asia Pacific
· Middle East and Africa
o South Africa
o Rest of Middle East and Africa
· Latin America
o Rest of Latin America