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
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.
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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).
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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
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.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Solution
Market Segmentation by End-user
Drivers, Challenges, & Trends
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