“Global IP Video Surveillance and VSaaS Market to reach a market value of 101.63 Billion by 2031 growing at a CAGR of 11.7%”
The Global IP Video Surveillance and VSaaS Market size is expected to reach $101.63 billion by 2031, rising at a market growth of 11.7% CAGR during the forecast period.
Manufacturing facilities and corporate offices require robust video surveillance to secure sensitive areas, monitor production lines, and ensure employee safety. IP video surveillance helps track workflow, detect incidents in real-time, and ensure compliance with safety regulations. With the added benefits of cloud-based solutions, businesses in this sector can remotely access surveillance footage, monitor multiple locations, and reduce on-premise storage requirements. Thus, in 2023, the manufacturing & corporate segment procured 15% revenue share in the market.
The major strategies followed by the market participants are Product Launch as the key developmental strategy to keep pace with the changing demands of end users. For instance, In 2024, April, Hikvision revealed Turbo HD 8.0, a new analog security product. Turbo HD 8.0 delivers a more comprehensive and interactive security experience for users, enabling them to augment their visual security environment. The enhancements extend the range of Turbo HD products with two-way audio capabilities, compact dual-lens cameras with stitching technology, and Smart Hybrid Light capability across the entire range of Turbo HD cameras. Additionally, In October, 2023, Canon India launched its latest range of 4K remote PTZ cameras at the 32nd Broadcast India Show, held at the Jio World Convention Centre, Mumbai. The new lineup includes the CR-N100 (indoor) and CR-X300 and CR-X500 (outdoor) models, designed for diverse broadcasting applications such as conferences, sports, wildlife observation, theme parks, and event spaces.
Based on the Analysis presented in the KBV Cardinal matrix; Sony Corporation and Honeywell International, Inc. are the forerunner in the IP Video Surveillance and VSaaS Market. Companies such as Robert Bosch GmbH, Panasonic Holdings Corporation, Hangzhou Hikvision Digital Technology Co., Ltd., are some of the key innovators in IP Video Surveillance and VSaaS Market. In May, 2024, Robert Bosch GmbH revealed FLEXIDOME 3100i camera, expanding the 3100i product range, providing dependable security while maintaining robust video analytics and data security. Featuring a discreet design, the new dome is well-suited for schools, office buildings, or other settings where inconspicuous surveillance is necessary. Available as an indoor model, with or without IR illumination, it offers enhanced flexibility to meet project needs. The IR illumination enables coverage of up to 30m (98ft) in low-light conditions. Additionally, the cameras incorporate integrated varifocal lenses for crisp, detailed images with an adjustable field of view.
The global rise in thefts, robberies, and other criminal activities has significantly driven the demand for effective surveillance solutions. IP video surveillance systems offer high-resolution video capture, real-time monitoring, and advanced features such as motion detection and facial recognition, making them essential for crime prevention and investigation.
Additionally, the need for remote monitoring and management has become increasingly critical across multiple sectors, driven by the rise of remote work and decentralized operations. IP video surveillance and VSaaS provide robust solutions that enable organizations to monitor and manage security from anywhere in the world, offering real-time access to surveillance data through cloud platforms and mobile applications. Therefore, the rising need for remote monitoring and management in various sectors is propelling the market's growth.
The high initial cost of deploying advanced IP video surveillance systems is a significant restraint for the market. Expenses related to hardware, installation, setup, and maintenance can be substantial, particularly for small and medium-sized enterprises (SMEs) and budget-constrained organizations. These financial barriers can deter potential customers from investing in comprehensive surveillance solutions despite their long-term benefits. In conclusion, high initial costs and budget constraints limit market expansion.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Product Launches and Product Expansions.
The software segment is further subdivided into video management system (VMS) and video analytics software (VAS). The cloud based solutions segment held 11% revenue share in the market in 2023. Cloud-based solutions for video surveillance allow businesses to store, manage, and access surveillance footage remotely via the cloud, eliminating the need for on-premise storage infrastructure.
In 2023, the cloud based solutions segment is further subdivided into cloud storage by product software and deployment type. The cloud storage by product software segment recorded 60% revenue share in the market in 2023. This segment focuses on software solutions that manage the storage and retrieval of video data in the cloud.
Based on application, the market is categorized into BFSI, retail, manufacturing & corporate, healthcare, casino & entertainment, residential, government & higher security, and others. In 2023, the BFSI segment registered 23% revenue share in the market. The BFSI sector requires advanced surveillance solutions to ensure the security of financial transactions and monitor ATMs, branches, and secure areas within financial institutions. IP video surveillance in this segment helps reduce theft, ensure compliance with security regulations, and enhance customer safety.
The services segment is further subdivided into video surveillance as a service, hosted VSaaS, managed VSaaS, hybrid VSaaS, and integrated services IP surveillance. In 2023, the software segment acquired 17% revenue share in the market. The software component includes video management software (VMS), analytics software, and other applications that enable video surveillance systems to function efficiently.
The hardware segment is further subdivided into IP camera, monitor, and storage. The storage segment held 24% revenue share in the market in 2023. Storage solutions are essential for archiving the large volumes of video data generated by surveillance systems. The growing demand for high-definition video and the need for longer retention periods of surveillance footage has driven the expansion of the storage segment.
Based on product type, the market is divided into hardware, software, cloud based solutions, and services. The services segment attained 26% revenue share in the market in 2023. Services in this market include system installation, maintenance, monitoring, and cloud storage. The increasing demand for managed surveillance services, where third-party vendors provide continuous monitoring and management, is a key driver of the growth in this segment.
Free Valuable Insights: Global IP Video Surveillance and VSaaS Market size to reach USD 101.63 Billion by 2031
The IP Video Surveillance and VSaaS market is highly competitive, driven by the increasing demand for smart security solutions across various sectors. Vendors are focusing on integrating advanced AI-based analytics, improving video quality, and offering scalable cloud-based services. Price competitiveness and innovation in features like real-time alerts, facial recognition, and edge processing are key differentiators. Additionally, the market sees significant competition from regional players offering tailored solutions, alongside global providers aiming to expand their reach through partnerships and advanced technologies.
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region generated 28% revenue share in the market in 2023. The Asia Pacific region is experiencing rapid growth due to increasing urbanization, industrialization, and investment in infrastructure development.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 42.99 Billion |
| Market size forecast in 2031 | USD 101.63 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 11.7% from 2024 to 2031 |
| Number of Pages | 436 |
| Tables | 682 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Market Share Analysis, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product Type, Application, Region |
| Country scope |
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| Companies Included | Honeywell International, Inc., Avigilon Corporation (Motorola Solutions, Inc.), Axis Communications AB (Canon, Inc.), Hangzhou Hikvision Digital Technology Co., Ltd., Panasonic Holdings Corporation, Robert Bosch GmbH, Genetec Inc., Sony Corporation, Zhejiang Dahua Technology Co., Ltd., Swann Communications Pty. Ltd. (Infinova Corporation) |
By Product Type
By Application
By Geography
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