Overview and Scope
IP Video Surveillance and VSaaS refer to advanced digital video surveillance systems which uses internet protocol (IP) cameras to capture and transmit video footage for security monitoring, with VSaaS providing a cloud-based solution for storage, analytics, and management of the surveillance data.
Sizing and Forecast
The IP video surveillance and VSaaS market size has grown rapidly in recent years. It will grow from $33.01 billion in 2023 to $36.8 billion in 2024 at a compound annual growth rate (CAGR) of 11.5%. The growth in the historic period can be attributed to transition from analog to IP-based systems, rising security concerns post-9/11, internet protocol (IP) standardization, decreasing cost of storage, increasing awareness of video analytics.
The IP video surveillance and VSaaS market size is expected to see rapid growth in the next few years. It will grow to $54.44 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to demand in emerging markets, remote monitoring requirements, focus on cybersecurity, cloud computing advancements, expansion of smart cities and IoT. Major trends in the forecast period include vertical-specific solutions, integration with access control, privacy-enhancing technologies, focus on cybersecurity, hybrid cloud deployments.
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Segmentation & Regional Insights
The IP video surveillance and VSaaS market covered in this report is segmented –
1) By Product: Hardware, Software, Service
2) By Type: Hosted, Managed, Hybrid
3) By Application: Banking And Financial Sector, Retail, Government And Higher Security, Manufacturing And Corporate, Residential, Casino And Entertainment, Healthcare, Other Applications
North America was the largest region in the IP video surveillance and VSaaS market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ip video surveillance and vsaas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing crime rates are expected to propel the growth of the IP video surveillance and VSaaS markets in the coming years. Crime rates refer to the statistical measure used to quantify the occurrence of criminal activities within a specific geographic area over a defined period. IP video surveillance and VSaaS are used to deter crimes, collect evidence, facilitate real-time monitoring, contribute to public safety, and support law enforcement efforts. For instance, in September 2023, according to the Bureau of Justice Statistics, a US-based federal agency, the rate of violent victimization in the United States rose to 23.5 victimizations per 1,000 persons age 12 or older in 2022. In 2022, this rate rose to 9.7 reported violent victimizations per 1,000 persons from 7.5 per 1,000 in 2021. Therefore, the increasing crime rates are driving the growth of the IP video surveillance and VSaaS markets.
Key Industry Players
Major companies operating in the ip video surveillance and vsaas market are Panasonic Corporation, Cisco Systems Inc., Honeywell International Inc., Johnson Controls International PLC, Hangzhou Hikvision Digital Technology Co. Ltd., Bosch Security Systems, Axis Communications AB, Avigilon Corporation , NETGEAR Inc., D-Link Corporation, Vivotek Inc., Zhejiang Dahua Technology Co. Ltd., Genetec Inc., Milestone Systems AS, Pelco by Schneider Electric, Eagle Eye Networks Inc., Vista IT Solutions LLC, Securens Systems Pvt. Ltd., MOBOTIX AG, Costar Technologies Inc., Infinova Group, IndigoVision Group PLC, Ivideon LLC, Arecont Vision Costar LLC, Salient Systems Corporation, Qognify Limited, Camcloud Inc., Cloudview Ltd., Arcules Inc.
The ip video surveillance and vsaas market report table of contents includes:
1. Executive Summary
2. IP Video Surveillance And VSaaS Market Characteristics
3. IP Video Surveillance And VSaaS Market Trends And Strategies
4. IP Video Surveillance And VSaaS Market – Macro Economic Scenario
5. Global IP Video Surveillance And VSaaS Market Size and Growth
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32. Global IP Video Surveillance And VSaaS Market Competitive Benchmarking
33. Global IP Video Surveillance And VSaaS Market Competitive Dashboard
34. Key Mergers And Acquisitions In The IP Video Surveillance And VSaaS Market
35. IP Video Surveillance And VSaaS Market Future Outlook and Potential Analysis
36. Appendix
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