Key Market Insights

“The rise in safety and security concerns worldwide will boost market growth”

The global video surveillance and VSaaS market is growing rapidly, estimated to expand at a CAGR of 17.2% throughout the projected period from 2024 to 2032.

The surge in safety and security concerns accompanied by rapid technological advancements such as artificial intelligence, machine learning, and the internet of things (IoT) among others in the video surveillance systems are major factors expected to drive the global market in years to come. The growing video analytics market and rising government initiatives for smart cities are some other major factors presumed to enhance the market demand in years to come. Innovative product launch and a surge in strategic collaboration for new technology development by key industry players are further anticipated to drive the market growth. For instance, In January 2020, FLIR Systems, Inc. collaborates with Ansys, Inc. to develop speed thermal camera machine learning for automotive vehicles. The collaboration is anticipated to enhance video security and surveillance in the transportation industry.

“The growing demand for VSaaS solutions will enhance market growth” 

The rising demand for VSaaS solutions for remote access & real-time video surveillance data and integration of VSaaS with alarm systems & access control is expected to drive the global market during the forecast period.  Launch of innovative VSaaS solutions by market players is another major projected to enhance market growth over the forecast period. For instance, Mobile Telecommunications Company K.S.C.P. (Zain Group) launched VSaaS solutions for organizations. The newly launched VSaaS solution provides convenience for easily managing and accessing the video recordings anytime & anywhere. The integrated VSaaS solution features a broad range of cloud-based services.

End-user Analysis

“Rising deployment of video surveillance in business organizations to spur the segment growth”

The business organization segment had a substantial share in the global market in 2023. The aforementioned segment is expected to grow significantly owing to the rising deployment of video surveillance cameras due to surge in theft cases and for the security of confidential information. The rise in cloud-based services is another major factor responsible for the substantial growth of the segment.

“Increasing global retail industry to enhance the segment growth” 

The retail segment is anticipated to enhance with a CAGR of over 15.0% during the forecast period owing to the increasing retail industry worldwide and the growing adoption of video surveillance solutions in the industry. The global retail sales is estimated at nearly US$ 24.0 Tn in 2020 and projected to expand at a CAGR of around 5% over the forecast period. The rising number of retail outlets in the Asia Pacific region is another major factor for the growth of the retail segment.

Regional Analysis

“Rapid technological adoption to enhance North America growth”

In 2023, North America had the largest share in the global video surveillance and VSaaS market. North America accounted for around 1/3rd of the market share in the same year. Rapid and early technological adoption and rising data theft cases are the major factors for regional dominance. Presence of the major market players such as Honeywell Security Group, Cisco Systems Inc., Genetec, Inc., and FLIR Systems, Inc. among others in the region is another major factor for the dominance of North America.

“Growing adoption of video surveillance and VSaaS to enhance the Asia Pacific growth”

Asia Pacific is presumed to grow at a rapid pace during the forecast period owing to the growing adoption of video surveillance and VSaaS solutions in the region. The rise in the retail industry coupled with growing government regulations is some other major factor anticipated to enhance regional growth. In addition, the surge in government focus on smart cities is one of the prominent factors for the growth of Asia Pacific over the forecast period. For instance, in India, in 2015, the government of India launched “Smart Cities Mission” with the mission to develop 100 smart cities in phase 1. 

Key Industry Developments:

• In July 2023, Honeywell Security Group launched 30 Series IP Cameras. The newly launched video cameras will strengthen security, safety, and surveillance through secure channel encryption and advanced analytics.
• In May 2023, a private equity firm Transom Capital Group acquires Pelco, Inc. The acquisition will help Pelco, Inc. to develop the next generation breakthroughs for video surveillance and security.
• In September 2023, Genetec, Inc. announced that its cloud-based VSaaS (video surveillance-as-a-service) Stratocast now supports MOBOTIX AG, EUKLIS, and Robert Bosch GmbH new camera models. 
• In December 2023, FLIR Systems, Inc. launched three new Pan-Tilt-Zoom (PTZ) dome-shaped security cameras. These newly launched cameras are suitable for critical infrastructure and come with improved video surveillance.

List of Companies Covered:

Robert Bosch GmbH, Cisco Systems Inc., Honeywell Security Group, Hangzhou Hikvision Digital Technology Co., Ltd., Pelco, Inc., Genetec, Inc., Mobotix AG, FLIR Systems, Inc., Panasonic System Networks Co. Ltd., D-Link Systems, Inc., GeoVision, Inc., Agent Video Intelligence Ltd., Axis Communications AB, NETGEAR Inc., Canary Connect, Inc., Homeboy, Inc and Other Notable Players.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Video Surveillance And Vsaas market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Video Surveillance And Vsaas market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Video Surveillance And Vsaas market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Video Surveillance And Vsaas market?
• Which is the largest regional market for Video Surveillance And Vsaas market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Video Surveillance And Vsaas market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Video Surveillance And Vsaas market worldwide?