Video Surveillance-as-a-Service Market Size & Share 2023 to 2032
Market Size by Type (Hosted, Managed, Hybrid), Organization Size (SME, Large Enterprises), Application (Security, Monitoring & Management, Smart City & IoT, Industrial & Critical Infrastructure), End User, Forecast.
Report ID: GMI7318
|
Published Date: November 2023
|
Report Format: PDF
Download Free PDF
Authors:
Preeti Wadhwani, Aishvarya Ambekar
Video Surveillance-as-a-Service Market Size
Video Surveillance-as-a-Service Market size was valued at USD 3.5 billion in 2022 and is projected to grow at a CAGR of over 14.5% between 2023 and 2032, due to increasing investments in video surveillance system companies. Companies in the video surveillance sector are attracting significant funding, enabling them to develop advanced technologies and expand their services. For instance, in July 2023, Solink secured USD 60 million in funding during its Series C investment round. The investment was led by the growth equity business within the Goldman Sachs Asset Management with active participation from Solink’s current investors, OMERS Ventures, and the BDC IT Ventures.
Video Surveillance-as-a-Service Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
Remote accessibility is a pivotal factor propelling the video surveillance-as-a-service market growth. VSaaS enables users to access live or recorded video feeds from their surveillance cameras remotely via the internet. This remote accessibility empowers businesses and individuals to monitor their premises in real-time, enhancing security and situational awareness. Furthermore, the market is witnessing a surge in demand, driven by the rapid growth of the wireless video surveillance market and the increasing adoption of surveillance radar system solutions.
Wireless technology has revolutionized the deployment and management of surveillance systems, offering enhanced convenience. Furthermore, the collaboration between VSaaS and surveillance radar systems has resulted in more comprehensive security solutions, enabling real-time monitoring and threat detection. This synergy underscores the market's growth, providing efficient, scalable, and versatile security options.
Security concerns are a significant challenge hindering the VSaaS market demand. Potential breaches, unauthorized access, or data theft incidents can erode user trust in cloud-based surveillance solutions. Ensuring robust encryption, data security protocols, and compliance with stringent privacy standards is essential for VSaaS providers. Building and maintaining customer confidence in the safety & integrity of their stored surveillance data is crucial to overcoming these security challenges and encouraging wider adoption of VSaaS technologies.
COVID-19 Impact
The COVID-19 pandemic had positively impacted the video surveillance-as-a-service (VSaaS) market. With the increased focus on health and safety protocols, businesses & public spaces have turned to VSaaS solutions to monitor occupancy, enforce social distancing, and enhance security measures. Remote access features have become crucial, enabling real-time monitoring of compliance. The pandemic accelerated the adoption of cloud-based surveillance as organizations started prioritizing flexible, scalable & contactless security solutions in the new normal, thereby driving market size.
Video Surveillance-as-a-Service Market Trends
The escalating demand for adaptable and scalable solutions is fueling substantial growth in the video surveillance-as-a-service industry. Businesses are gradually seeking flexible surveillance options that can expand or contract based on evolving needs. For instance, in October 2023, Milestone Systems, a video technology provider, revealed plans for an upcoming feature in its Milestone Kite VSaaS software, a new camera-to-cloud deployment option. This innovation aligns with Milestone’s commitment to adaptable and scalable solutions, catering to changing requirements in the surveillance industry. VSaaS addresses this demand by offering easily adjustable camera deployments and scalable cloud-based storage.
The demand for real-time analytics is driving the adoption of video surveillance-as-a-service market. Businesses are increasingly relying on VSaaS solutions with advanced video analytics capabilities to gain actionable insights from surveillance data. These insights empower organizations to enhance operational efficiency, understand customer behavior, and make data-driven decisions. Real-time analytics enable businesses to respond promptly to security incidents, optimize workflows & improve overall productivity, making VSaaS an essential tool for businesses looking to leverage valuable insights from their surveillance systems.
Video Surveillance-as-a-Service Market Analysis
Based on type, the hosted segment is expected to register at a CAGR of around 13.5% during the forecast period, due to its robust security measures and seamless integration capabilities. Cloud-based hosting ensures data integrity through encryption and reliable backup solutions, enhancing system reliability for businesses. Additionally, hosted VSaaS platforms easily integrate with various security systems, access control, and business intelligence tools. This integration not only bolsters security but also streamlines operations, making it a preferred choice for businesses seeking scalable, secure & seamlessly integrated surveillance solutions.
Based on end user, the commercial segment size dominated around USD 1.1 billion in 2022. Partnerships between firms for cloud and AI innovation in surveillance services are propelling the commercial end-user segment growth. Moreover, collaborations between tech companies enhance cloud-based solutions and implement AI algorithms, providing businesses with advanced analytics & efficient security measures.
For instance, in August 2023, Eagle Eye Networks, a cloud video surveillance company, teamed up with a prominent security integration company, ESSCOR to offer cloud video surveillance services. These services provide AI insights, security, cybersecurity assurance, and a positive return on investment for commercial businesses. Furthermore, businesses are also embracing digital transformation, favoring cloud solutions and managed services to enhance their security measures.
North America video surveillance-as-a-service market share of over 35% in 2022, owing to rapid technological advancements in the region. The region serves as a focal point for innovation, fostering the development of cutting-edge cloud-based surveillance systems. These systems incorporate features such as artificial intelligence analytics and real-time monitoring, catering to the sophisticated demands of businesses & organizations. The continuous evolution of technology in North America also ensures that VSaaS solutions remain at the forefront, offering advanced capabilities that align with the dynamic security requirements of the market.
Video Surveillance-as-a-Service Market Share
Major companies operating in the video surveillance-as-a-service industry are:
Hikvision and Axis Communications are prominent players in VSaaS market due to their extensive global presence, robust financial expertise, and comprehensive service offerings. Both companies are dedicated to advancing the capabilities of VSaaS, ensuring that clients have access to cutting-edge technology for their security and surveillance requirements. Their contributions include innovative product development, comprehensive system integration, and robust cloud-based solutions, thus playing a significant role in shaping the future of the market.
Video Surveillance-as-a-Service Industry News
The video surveillance-as-a-service (VSaaS) market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments:
Click here to Buy Section of this Report
Market, By Type
Market, By Organization Size
Market, By Application
Market, By End User
The above information has been provided for the following regions and countries:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →