According to a new report, published by KBV research, 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.
The Hardware segment is leading the Global IP Video Surveillance and VSaaS Market by Product Type in 2023; thereby, achieving a market value of $45.4 billion by 2031. The hardware segment includes cameras, recorders, sensors, and other physical components essential for video surveillance systems. These products are crucial for the functioning of IP video surveillance systems, and the demand for high-definition cameras, advanced sensors, and network video recorders (NVRs) is driving the significant revenue share in this segment. As security concerns rise across various industries, the need for advanced and reliable surveillance hardware continues to grow, solidifying its dominant position in the market.
The Retail segment is anticipating a CAGR of 10.5% during (2024 - 2031). Retail businesses use video surveillance systems to enhance security, monitor inventory, prevent theft, and ensure the safety of customers and staff. With the rise of e-commerce and the expansion of physical retail stores, demand for IP video surveillance has surged to protect assets, monitor customer behavior, and optimize operational efficiency. Retailers also leverage VSaaS to reduce on-site infrastructure and manage surveillance remotely, making it easier to scale security across multiple locations.
Full Report: https://www.kbvresearch.com/ip-video-surveillance-and-vsaas-market/
The North America region dominated the Global IP Video Surveillance and VSaaS Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $34.5 billion by 2031. The Europe region is experiencing a CAGR of 11.3% during (2024 - 2031). Additionally, The Asia Pacific region would showcase a CAGR of 12.5% during (2024 - 2031).
By Product Type
By Application
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