Chicago, July 12, 2024 (GLOBE NEWSWIRE) -- The global VSaaS market size is expected to be valued at USD 5.0 billion in 2024 and is projected to reach USD 10.7 billion by 2029; growing at a CAGR of 16.1% from 2024 to 2029.
The integration of advanced features such as AI-powered analytics, real-time alerts, and video analytics further enhances the value proposition of VSaaS, making it an indispensable tool for enhancing security, improving operational efficiency, and gaining valuable insights from video data. As businesses recognize the benefits of VSaaS in addressing their evolving security and surveillance needs, the market continues to grow steadily.
To know about the assumptions considered for the study
Major VSaaS Companies Include:
- ADT (US),
- Johnson Controls (Ireland),
- Axis Communication AB (Sweden),
- Motorola Solutions, Inc. (US),
- Securitas AB (Sweden).
VSaaS Market Segmentation Analysis:
Based on the type, Hosted in VSaaS market to hold the highest market share during the forecast period.
The VSaaS market for hosted services is growing due to several key factors. Firstly, hosted VSaaS solutions offer businesses a convenient and cost-effective alternative to traditional on-premises surveillance systems. With hosted services, companies can leverage cloud infrastructure for storage, processing, and management, eliminating the need for upfront investments in hardware and infrastructure. Additionally, hosted VSaaS solutions provide scalability, allowing businesses to quickly expand their surveillance systems without physical hardware limitations. Moreover, hosted services offer flexibility, enabling enterprises to access video feeds and analytics from anywhere with an internet connection, facilitating remote monitoring and management.
Based on AI visual analysis, the VSaaS market for object detection & recognition to hold the highest market share during the forecast period.
The VSaaS market for object detection and recognition is experiencing significant growth due to its ability to enhance security, operational efficiency, and customer experience across various industries. Object detection and recognition technologies leverage advanced algorithms, such as deep learning and computer vision, to accurately identify and classify objects in real-time video streams. This enables businesses to detect and respond to security threats more effectively, whether it's identifying unauthorized individuals, detecting intrusions, or recognizing suspicious behavior. Additionally, object detection and recognition can be applied to optimize operations in retail, manufacturing, transportation, and other sectors by tracking inventory, monitoring production processes, and analyzing customer behavior.
Based on vertical, the VSaaS for commercial holds the highest market share during the forecast period.
The VSaaS market for commercial verticals is experiencing notable growth due to several key factors. Firstly, businesses across various industries increasingly prioritize security and surveillance to safeguard assets, protect employees, and mitigate risks such as theft, vandalism, and liability claims. VSaaS solutions offer commercial entities the flexibility to deploy and manage surveillance systems efficiently, regardless of their size or complexity, while also providing remote access and monitoring capabilities. Additionally, the scalability of VSaaS allows businesses to quickly expand their surveillance infrastructure as needed, accommodating growth and evolving security requirements.
Based on Regional growth, VSaaS market in Asia Pacific to hold the highest market share during the forecast period.
The VSaaS market in the Asia Pacific region is experiencing notable growth due to several key factors. Firstly, rapid urbanization and economic development in countries across the region drive the demand for security and surveillance solutions to address safety concerns and protect valuable assets. Additionally, cloud technology and internet infrastructure advancements have made VSaaS more accessible and affordable for businesses of all sizes, particularly in emerging markets. Moreover, the increasing adoption of digital technologies and smart city initiatives further fuel the demand for advanced surveillance solutions in the region.
Segment and Subsegment:
VSaaS Market, By Type
- Hosted
- Managed
- Hybrid
VSaaS Market, By AI Visual Analysis
- Object Detection & Recognition
- Intrusion Detection
- Facial Recognition
- Anomaly Detection
VSaaS Market, By Vertical
- Commercial
- Residential
- Industrial
- Infrastructure
- Military & Defense
Public Facilities
