According to a market report, published by Sheer Analytics and Insights, the global video surveillance and vsaas market was valued at $20.4 billion in 2021 and it is expected to reach $71.3 billion at a CAGR of 11.5% between 2022 and 2032. Security concerns are gradually increasing across the globe, which has drawn the attention of many manufacturing companies to increase their investments and that is expected to drive the video surveillance and VSaaS market during the forecast period. Along with these, traffic surveillance and intrusion detection have increased the demand for video surveillance systems, which is further anticipated to propel market growth throughout the next few years. Therefore, it is a service that refers to hosted cloud-based video surveillance. These services are storage, video recording, remote viewing, management alerts, cyber security, and others. Nearly 90 percent of business organizations have adopted cloud-based solutions. These services are rapidly increasing across several regions. In modern days, technologies are becoming more advanced, which has helped surveillance cameras and related devices to develop for better services. Moreover, the video surveillance and VSaaS offer services with a low-cost budget and these provide products for hosted video with better system performance, and access to value-added services.
The term video surveillance is mainly used for surveillance in areas or locations which need constant monitoring. These areas can be including bank sectors, government offices, various market stores, and corporate offices, among others. Thus, video surveillance is used to decrease terrorist, criminal activities, and other thefts. Privacy concerns related to public surveillance might hamper market growth. However, some major factors such as implementing big data analytics solutions and real-time data viewing from mobile video surveillance are expected to provide various growth opportunities in the global market. Along with these, the adoption of IP-based video surveillance systems and solutions is growing at the present day, which is estimated to drive the market in upcoming years. The advanced surveillance system is widely used to recognize unusual behavior of people and patterns in different video footage by using modern technologies such as computer vision, and artificial intelligence, among others. Therefore, the old version of the video surveillance system is decreasing across several nations due to a lack of advancements.
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Technological advancements along with modern artificial intelligence help the video surveillance and VSaaS system grow across various organizations and sectors. Therefore several major players are focusing on introducing new, innovative video surveillance systems and solutions in near future to hold their position in the competitive market. For example, a digital service provider named Zain has launched an advanced VSaaS solution for various customers working at the enterprise level. Similarly, an United Arab Emirates company named Etisalat introduced a newly cloud-based video surveillance system to assist small, medium, and large business enterprises to provide better security requirements. Moreover, in several developing countries, some key players are focusing on increasing video surveillance systems to cover all the public places. Additionally, the police department is planning to link all the CCTV cameras to monitor centers for better observations.
According to the study, key players dominating the global video surveillance and vsaas market are SASAC Company (China), Dahua Technology Publicly Traded Company (China), Canon Optical Products Company (Japan), Bosch Security and Safety System Company (Germany), Genetec Company (Canada), Huawei Investment and Holding Private Limited Company (China), Motorola Solutions Telecommunications and Equipment Company (U.S), Western Electric Company (U.S), NICE Systems Software Company (Israel), Qognify Inc Software Company (U.S), Tianjin Tiandy Digital Technology Co. Ltd (China), VIVOTEK Inc Company (Taiwan), MOBOTIX Company (Germany), CP PLUS Company (India), SureKAM Corporation IT Service Management Company (China), Teledyne Technologies Industrial Conglomerate Company (U.S), Ivideon Company (U.S), D-Link Network Equipment Company (Taiwan), GeoVision Inc Company (Taiwan), Infinova Corporation Company (U.S), Transom Capital group, LLC Company (U.S), Alarm.com Home Automation Company (U.S), Eagle Eye Networks Video Surveillance Company (U.S), Pacific Controls Company (UAE), Stanley Black and Decker Manufacturing Company (U.S), among others.
The Global Video Surveillance and Vsaas Market Has Been Segmented Into:
The Global Video Surveillance and Vsaas Market – By Product Type:
The Global Video Surveillance and Vsaas Market – By Components:
The Global Video Surveillance and Vsaas Market – By End-Users:
The Global Video Surveillance and Vsaas Market – By Regions:
North America
Europe
Asia-Pacific
LAMEA
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