IP Video Surveillance and VSaaS Market Size, Share, Growth Analysis, By Product(Hardware, Software), By End user(BFSI, retail) - Industry Forecast 2024-2031

Report ID: SQMIG45B2076 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 66 | Figures: 80

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IP Video Surveillance And VSaaS Market size was valued at USD 38.47 billion in 2022 and is poised to grow from USD 42.66 billion in 2023 to USD 97.61 billion by 2031, growing at a CAGR of 10.9% in the forecast period (2024-2031).

A huge variety of established companies are fighting for the largest market share in the crowded IP video surveillance and VSaaS market, and this is what defines the competitive landscape of this particular market. Industry leaders like Hikvision, Dahua Technology, Axis Communications, Bosch Security Systems, and Hanwha Techwin, have retained their piece of the market by developing and introducing revolutionary camera technologies, coming up with detailed IP video surveillance solutions, and providing cloud-based VSaaS products. These industry giants meet a wide range of consumer needs by utilizing their robust worldwide reach, varied product offerings, and technical innovations. Furthermore, the incorporation of intelligent features into surveillance systems has been made possible by developments in AI and analytics, which offer improved security and operational insights. Partnerships, mergers, and acquisitions will probably continue to shape the competitive environment as the market develops, and the growing need for data-driven insights and remote monitoring will probably spur additional innovation in this field. 'Hikvision - China', 'Dahua Technology - China', 'Axis Communications - Sweden', 'Avigilon (a Motorola Solutions Company) - Canada', 'Hanwha Techwin - South Korea', 'Bosch Security Systems - Germany', 'Honeywell Security - United States', 'Pelco - United States', 'FLIR Systems - United States', 'Genetec - Canada', 'Vivotek - Taiwan', 'Panasonic Security Solutions - Japan', 'Tyco Security Products - Ireland (Part of Johnson Controls)', 'March Networks - Canada', 'Arecont Vision Costar - United States', 'IndigoVision - United Kingdom', 'IDIS - South Korea', 'Verkada - United States', 'Mobotix - Germany', 'Salient Systems - United States', 'Eagle Eye Networks - United States', 'Uniview - China', 'Qognify - United States', 'AxxonSoft - Russia', 'OnSSI (part of Qognify) - United States'

The increasing demand for upgraded security and surveillance across several industries like commercial, residential, industrial, and public settings is driving the IP video surveillance and VSaaS market. Advanced video surveillance solutions have gained substantial popularity among businesses, governments, and individuals due to growing concerns about terrorism, vandalism, theft, and safety. The process of monitoring and incident response can be made more efficient with the help of IP-based systems as they provide better image quality, sophisticated analytics, and remote access.

Shift towards Cloud-based Solutions (VSaaS): Video Surveillance as a Service (VSaaS) is a cloud-based solution that is going through a transformative phase in the industry. The main reason for this development is the growing demand for adaptable, scalable, and reasonably priced video surveillance systems. Some of the many advantages that cloud-based virtual private server as a service (VSaaS) present are remote access, simple scaling, lower initial expenses, and easier maintenance. It is especially appealing to small and medium-sized organizations (SMEs) as it provides them with the opportunity to implement surveillance systems without investing a large amount for on-site infrastructure. As internet connectivity and data security improve, more businesses are adopting cloud-based video surveillance solutions due to the simplicity and effectiveness.

North America leads the VSaaS and IP video surveillance market, thanks to its strong emphasis on security and constant monitoring and its developed technology infrastructure. The adoption of cloud-based VSaaS systems and the integration of cutting-edge IP video surveillance solutions has been the reason for the region’s supremacy. As it serves as the base for some of the biggest market players and due to its constant efforts towards innovation and increasing awareness of the benefits of IP-based monitoring, North America has retained the largest market share.

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Global IP Video Surveillance and VSaaS Market

Product ID: SQMIG45B2076