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Video Surveillance-as-a-Service Market Size
- Report ID: GMI7318
- Published Date: Nov 2023
- Report Format: PDF
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.
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Video Surveillance-as-a-Service Market Size in 2022: | USD 3.5 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 14.5% |
| 2032 Value Projection: | USD 13.9 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 277 |
| Tables, Charts & Figures: | 334 |
| Segments covered: | Type, Organization Size, Application, End User, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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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.
Frequently Asked Questions (FAQ) :
Video Surveillance-as-a-Service Market Scope
