IP Video Surveillance and VSaaS Market Set to Reach $72 Billion by 2030

IP Video Surveillance and VSaaS Market Set to Reach $72 Billion by 2030

 

The global IP Video Surveillance and Video Surveillance as a Service (VSaaS) Market, is on track to grow significantly, reaching $72 billion by 2030. This represents a robust compound annual growth rate CAGR of 11% by 2030, according to a new research report by Next Move Strategy Consulting.

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What is IP Video Surveillance and VSaaS?

IP video surveillance involves capturing videos from a site and transmitting them over communication networks by compressing their size. These surveillance systems, which include IP security cameras, offer a wide range of features such as high-definition video recording, storage, auto-adjustment to different lighting conditions, and remote focus adjustments on specific objects. VSaaS, or Video Surveillance as a Service, delivers surveillance solutions hosted on the cloud, offering businesses scalable, efficient, and cost-effective options for securing their assets.

Key Drivers of Market Growth

The IP Video Surveillance and VSaaS market is primarily driven by the increasing demand for enhanced public infrastructure and rising security concerns across various sectors. With governments, businesses, and individuals focusing more on safety, the adoption of IP video surveillance solutions has surged. However, concerns about privacy issues, high installation costs, and vulnerabilities are hindering the full potential of the market.

On the other hand, technological advancements such as wireless surveillance systems, 4K video quality, reduced maintenance costs, and the introduction of 5G networks, which enable faster video sharing, are expected to offer massive growth opportunities in the IP surveillance and VSaaS markets.

Market Segmentation

The market is segmented based on product type, application, and geography. Key product segments include:

  • Hardware: Impact cameras, monitors, and storage
  • Software: Video analytics software and video management systems
  • Cloud-Based Solutions: Cloud storage by product software and cloud storage by deployment
  • Services: VSaaS, hosted VSaaS, managed VSaaS, hybrid VSaaS, and integrated services IP surveillance

By application, the market spans industries such as banking and finance, retail, government and higher security, manufacturing and corporate, residential, entertainment, healthcare, and others.

Regional Insights

North America dominates the global IP Video Surveillance and VSaaS market, driven by high-security concerns, political instability, and substantial investments in public infrastructure. The region is also witnessing a transition from analog to IP surveillance cameras, which further accelerates the market's growth.

In contrast, the Asia-Pacific region is expected to experience rapid growth due to an increase in criminal activities, security threats, and a growing number of smart cities. The widespread application of IP video surveillance in diverse sectors will continue to fuel growth in this region.

Key Market Players

Leading companies in the IP Video Surveillance and VSaaS market include HIKVISION, Bosch Security System, Honeywell Security Group, Dahua Technology, D-Link Corporation, Panasonic, Avigilon, Axis Communications, Infinova, and Mobotix AG. These industry players have been adopting strategies such as product portfolio expansion, mergers and acquisitions, geographical expansion, and collaborations to enhance their market presence and share.

Conclusion

The IP Video Surveillance and VSaaS Market is poised for significant growth in the coming years, driven by increasing security concerns, advancements in surveillance technology, and the rising demand for smart city solutions. While challenges such as privacy concerns and installation costs exist, the market’s expansion is supported by innovations in wireless surveillance, cloud-based services, and the roll-out of 5G networks. North America’s dominance and Asia-Pacific’s rapid growth make these regions pivotal in the future of the market.

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