The VSaaS Market revenues was estimated at US$ 7.6 Bn in 2021 and is anticipated to grow at a CAGR of 9.6% from 2022-2032, according to a recently published Future Market Insights report. The market is expected to reach a valuation of US$ 8.5 Bn in 2022 and US$ 21.1 Bn by 2032.
VSaaS is being pushed by growing user concerns about improved security, a growing number of government policies to increase public security, and continuous infrastructure developments, particularly transportation hubs. Rising smartphone penetration in developing nations combined with advancements in technology in telecommunication services, such as LTE accessibility and the rapidly increasing 5G pattern, and elevated Internet connectivity, are assisting the host VSaaS market in expanding further, as high Internet connection is one of the basic requirements of users and service providers.
The need for cloud-based solutions is increasing among various end-users. The rise may be linked to a number of benefits of cloud-based solutions, such as quick response times. Home workplaces, commercial real estate developments, as well as the financial sector, are projected to use VSaaS services due to rising interest for cloud services and increased knowledge of video surveillance application administration.
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Banks and financial organizations have high expectations for VSaaS. It aids in the enhancement of security, as well as the monitoring of ATMs, employees, and consumers. There are roughly 376,984 ATMs in Europe, including 60,752 ATMs in Germany. The expanding use of ATMs across the European Union will boost the expansion of the VSaaS industry in the commercial sector.
“During the projected period, The VSaaS industry will profit from the increased demand for VSaaS services across corporate domains to minimize thefts, maintain safety, and decrease inventory losses in the commercial sector.” comments a Future Market Insights analyst.
Competitive Landscape
The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the VSaaS Market are focused on R&D to offer innovative technological solutions.
- In December 2021, Axis Communications established an open-source initiative for video verification, which assures the authenticity of surveillance video which is used in the business’s cameras. Axis has issued a whitepaper outlining an architecture which will form a basis for partners to deploy integrated video authentication solutions.
- In April 2021, FLIR and Neurala have collaborated to create AI-Powered Industrial Computer Vision technology. With little data and no AI knowledge, this new imaging system enables users to quickly develop deep learning models on the VIA platform using Neurala’s Brain Builder. By using free Flir Spinnaker software platform, these models may be instantly downloaded to a Flir Firefly DL cameras.
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More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the VSaaS Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
Market Segments Covered in VSaaS Market Analysis
By Product Type:
- Hosted
- Managed
- Hybrid
By Verticals:
- Commercial
- Infrastructure
- Residential
- Military & Defense
- Public Facilities
- Industrial
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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