According to a new report, published by KBV research, The Global VSaaS Market size is expected to reach $8.6 billion by 2028, rising at a market growth of 18.2% CAGR during the forecast period.
The Commercial segment acquired maximum revenue share in the Global VSaaS Market by Vertical in 2021, thereby, achieving a market value of $2.87 billion by 2028. The increasing usage of VSaaS in warehouses, hospitality centres, banks & financial institutions, companies, malls, and retail outlets is attributed with the high market share. The strong adoption is attributed to a growing need for VSaaS services across commercial sectors to prevent thefts, improve security, and reduce inventory losses.
The Hybrid segment is showcasing a CAGR of 18.9% during (2022 - 2028). The advantages of on-premise video recording and managed video services, given by hybrid VSaaS, are driving the growth. The collected data is saved at both the client and service provider's end in hybrid VSaaS; the key reason for this model's popularity is worries about data security.
The North America market dominated the Global VSaaS Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3.03 billion by 2028. The Europe market is estimated to witness a CAGR of 17.7% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 18.7% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/vsaas-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Johnson Controls International PLC, Honeywell International, Inc., Robert Bosch GmbH, Axis Communications AB (Canon, Inc.), Comcast Corporation, Arlo Technologies, Inc., Vivint Smart Home, Inc., ADT, Inc. (Apollo Global Management, Inc.), Genetec, Inc., and Pacific Controls Systems.
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