Video Managed Services Market Overview
As per MRFR analysis, the Video Managed Services Market Size was estimated at 70.73 (USD Billion) in 2022. The Video Managed Services Market Industry is expected to grow from 83.29(USD Billion) in 2023 to 362.8 (USD Billion) by 2032. The Video Managed Services Market CAGR (growth rate) is expected to be around 17.76% during the forecast period (2024 - 2032).
Key Video Managed Services Market Trends Highlighted
The video-managed services market is undergoing a significant transformation, driven by the proliferation of cloud technologies, the growing adoption of artificial intelligence (AI), and the increasing demand for personalized content. As a result, the market is witnessing a shift towards cloud-based managed services, which offer greater flexibility, scalability, and cost efficiency. Additionally, AI is playing a pivotal role in enhancing video management capabilities, enabling advanced features such as automated content analysis, facial recognition, and object detection.
Key market drivers include the growing demand for video surveillance in various industries, such as retail, healthcare, and manufacturing, to improve security and operational efficiency. The rising adoption of digital signage for advertising and promotional purposes is also contributing to market growth. Furthermore, the increasing popularity of remote work and video conferencing is driving the demand for managed services that can ensure optimal video performance and collaboration.
Recent market trends include the emergence of subscription-based pricing models, which offer flexibility and cost savings for businesses. There is also a growing focus on data privacy and security, as video data often contains sensitive information. As a result, providers are investing in robust cybersecurity measures to protect customer data.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Video Managed Services Market Drivers
Increasing Adoption of Cloud-Based Video Surveillance
The growing adoption of cloud-based video surveillance systems is a major driver of the Video Managed Services Market Industry. Cloud-based video surveillance offers several advantages over traditional on-premises systems, such as reduced upfront costs, increased flexibility and scalability, and improved security. As more and more organizations recognize the benefits of cloud-based video surveillance, the demand for video-managed services is expected to increase. The increasing adoption of cloud-based video surveillance is being driven by a number of factors, such as the rising cost of on-premises video surveillance systems.
On-premises video surveillance systems can be expensive to purchase, install, and maintain. Cloud-based video surveillance systems offer a more cost-effective alternative, as organizations can pay for only the services they need. The increasing need for flexibility and scalability. Cloud-based video surveillance systems are more flexible and scalable than on-premises systems. They can be easily expanded or contracted to meet the changing needs of an organization.
The improved security of cloud-based video surveillance systems. Cloud-based video surveillance systems are more secure than on-premises systems. They are hosted in secure data centers and are protected by multiple layers of security. The increasing adoption of cloud-based video surveillance is expected to continue in the coming years. This will lead to a corresponding increase in the demand for video-managed services.
Growing Demand for Video Analytics
Video Managed Services Market Industry is driven by the growing demand for video analytics. Video analytics is the use of artificial intelligence to analyze video footage and extract valuable insights. Video analytics can be used for a variety of purposes, such as Security and surveillance. Video analytics can be used to detect and track objects and people in video footage. This can be used to improve security and surveillance by identifying potential threats and deterring crime.
Business intelligence. Video analytics can be used to collect data on customer behavior and traffic patterns. This data can be used to improve business intelligence and make better decisions. Quality control. Video analytics can be used to inspect products and processes for quality control purposes. This can help to improve quality and reduce costs. The growing demand for video analytics is driven by a number of factors, including The increasing availability of AI-powered video analytics solutions.
AI-powered video analytics solutions are becoming more affordable and easier to use. This is making video analytics more accessible to a wider range of organizations. The growing need for data-driven insights. Organizations are increasingly looking for data-driven insights to improve their decision-making. Video analytics can provide valuable insights into customer behavior, traffic patterns, and product quality. The increasing need for security and surveillance.
The growing threat of crime and terrorism is leading to an increased need for security and surveillance. Video analytics can help to improve security and surveillance by identifying potential threats and deterring crime. The growing demand for video analytics is expected to continue in the coming years. This will lead to a corresponding increase in the demand for video-managed services.
Increasing Adoption of IoT Devices
The increasing adoption of IoT devices is another major driver of the Video Managed Services Market Industry. IoT devices are connected to the Internet and can collect and share data. They can be used for a variety of purposes, such as Security and surveillance. For security purposes, IoT devices can monitor buildings, homes, and other areas. They can be equipped with sensors that can detect motion, sound, and other events.
Home automation. IoT devices can be used to automate tasks in the home, such as turning on lights, adjusting the thermostat, and locking the doors. Industrial automation. IoT devices can be used to automate tasks in industrial settings, such as monitoring equipment, tracking inventory, and controlling processes. The increasing adoption of IoT devices is being driven by a number of factors, including The decreasing cost of IoT devices. IoT devices are becoming more affordable, making them more accessible to a wider range of consumers and businesses.
The increasing availability of IoT platforms. IoT platforms make it easier to connect and manage IoT devices. This is making it easier for organizations to deploy and use IoT devices. The growing need for data-driven insights. Organizations are increasingly looking for data-driven insights to improve their decision-making. IoT devices can provide valuable data on customer behavior, traffic patterns, and product quality. The increasing adoption of IoT devices is expected to continue in the coming years.
This will lead to a corresponding increase in the demand for video-managed services.
Video Managed Services Market Segment Insights
Video Managed Services Market Deployment Mode Insights
The deployment mode segment of the Video Managed Services Market is classified into on-premises, cloud-based, and hybrid. Of these, the cloud-based segment is expected to be a major shareholder and display a high growth trajectory over the projected period. With the increasing adoption of cloud computing services, factors like scalability, cost-effectiveness, and flexibility are boosting the cloud-based deployment mode. In addition, businesses leveraging video management services do not have to invest in infrastructure and maintenance, reducing capital and operating expenses.
As a result, a cloud-based deployment mode is adopted by businesses of all sizes, where on-demand scalability is an added advantage. Furthermore, the cloud-based deployment mode provides video-managed services from anywhere with an internet connection. These are driving factors that are expected to increase the cloud-based deployment mode doubly over the projected period. On the other hand, the on-premises deployment mode is still being widely adopted in the market. Organizations with strict requirements for data security and adherence regard this deployment mode as ideal as they have complete control over the data and infrastructure.
Industries such as government, healthcare, and finance, where data security is vital, are adopting the on-premises deployment mode. The biggest issues in the cloud-based deployment mode, i.e., data protection and reliability are handled through the on-premises deployment modes. The on-premises video managed services provide complete control and ownership of the video infrastructure to organizations. Businesses and organizations have the ability to customize and configure the system to suit their unique requirements. The hybrid deployment mode offers the advantages of both the cloud-based and on-premises implementation modes.
Businesses have the ability to deploy video-managed services partly on-premises and partly in the cloud. As a result, businesses have the ability to choose the best implementation mode in terms of flexibility, infrastructure and data control. The various advantages of the hybrid deployment mode are expected to drive the market doubly over the projected period.
An increase in video surveillance systems and wide acceptance of remote monitoring and management are driving the market. In addition, market growth is being fueled by the rising acceptance of advanced technologies like AI and ML in video-managed services. This technology assists video management systems in analyzing video more quickly and provides beneficial insights to businesses to make quick decisions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Video Managed Services Market Service Type Insights
Video Surveillance as a Service (VSaaS), Managed Video Surveillance (MVS), Video Network Management, and Video Analytics are the four key service types in the Video Managed Services Market. VSaaS is the largest segment, accounting for over 50% of the market in 2023. It is expected to continue to grow at a CAGR of 15.6% over the forecast period, reaching a market size of USD 123.4 billion by 2032. MVS is the second-largest segment, with a market size of USD 28.9 billion in 2023. It is projected to grow at a CAGR of 14.8% over the forecast period, reaching a market size of USD 92.6 billion by 2032.
Video Network Management and Video Analytics are the two smallest segments, with market sizes of USD 17.1 billion and USD 14.3 billion in 2023, respectively. However, these segments are expected to grow at CAGRs of 16.1% and 17.4%, respectively, over the forecast period.
Video Managed Services Market Application Insights
The Video Managed Services Market segmentation by Application is categorized into Security and Surveillance, Business Intelligence, Compliance Management, and Customer Experience Management. Among these, Security and Surveillance dominated the market in 2023, accounting for over 55% of the Video Managed Services Market revenue.
The increasing adoption of video surveillance systems for security purposes in various sectors, such as retail, banking, and transportation, is driving the growth of this segment. Business Intelligence is another significant segment, with a growing demand for video analytics solutions to extract valuable insights from video data for business decision-making.
Compliance Management is also witnessing growth due to the need for organizations to adhere to regulatory compliance requirements and manage risk. Customer Experience Management is gaining traction as businesses leverage video-based solutions to enhance customer engagement, personalization, and support.
Video Managed Services Market Vertical Insights
The Video Managed Services Market segmentation by Vertical is expected to grow significantly in the coming years. The Retail segment is projected to account for the largest market share in 2023, with a revenue of USD 14.56 billion. This growth is attributed to the increasing adoption of video surveillance solutions by retailers to enhance security, reduce shrinkage, and improve customer experience.
The Banking, Financial Services, and Insurance (BFSI) segment is anticipated to witness robust growth over the forecast period, owing to the rising need for compliance with regulatory mandates and the increasing adoption of video analytics for fraud detection and prevention.
The Transportation segment is also expected to contribute significantly to the market growth, driven by the growing demand for video surveillance solutions to ensure passenger safety and security in public transportation systems.
The Education segment is projected to experience steady growth, as schools and universities adopt video surveillance solutions to enhance campus security and improve monitoring of students and staff. The Healthcare segment is anticipated to witness significant growth, driven by the increasing demand for video surveillance solutions to ensure patient safety, improve clinical outcomes, and comply with regulatory requirements.
Video Managed Services Market Organization Size Insights
The Video Managed Services Market segmentation by organization size comprises small and medium-sized enterprises (SMEs) and large enterprises. SMEs are projected to dominate the market over the forecast period, with a larger share in 2023 and a significant contribution to the overall market growth. The increasing adoption of cloud-based video surveillance solutions, coupled with the need for cost-effective security solutions, is driving the growth of the SME segment.
Large enterprises are also expected to contribute significantly to the market, driven by the demand for comprehensive video management systems and the need for enhanced security measures. The growing adoption of video analytics, access control integration, and remote monitoring solutions is fueling the demand for video-managed services among large enterprises.
Video Managed Services Market Regional Insights
The Video Managed Services Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America is expected to hold the largest market share in 2024, owing to the presence of a large number of technology companies and early adoption of cloud-based services.
Europe is expected to be the second-largest market, followed by APAC. APAC is expected to witness the highest growth rate during the forecast period due to the increasing adoption of video streaming services and the growing number of internet users in the region.
South America and MEA are expected to account for a smaller share of the market, but they are also expected to witness significant growth in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Video Managed Services Market Key Players And Competitive Insights
Major players in the managed Services Market industry are constantly innovating and expanding their service offerings to meet the evolving needs of customers. Leading Video Managed Services Market players are investing heavily in research and development to develop new technologies and solutions that can improve the efficiency and effectiveness of video management.
The Video Managed Services Market is expected to witness significant growth in the coming years, driven by the increasing adoption of cloud-based video management solutions and the growing demand for video analytics. The competitive landscape of the Video Managed Services Market is characterized by the presence of both established players and new entrants.
A leading player in the Video Managed Services Market is Cisco Systems, Inc. The company offers a comprehensive suite of video-managed services, including video conferencing, video surveillance, and video analytics. Cisco Systems has a strong presence and a large customer base. It is known for its innovative products and solutions, as well as its commitment to customer satisfaction. The company is well-positioned to continue to grow its market share in the coming years.
A competitor in the Video Managed Services Market is IBM Corporation. IBM offers a range of video-managed services, including video conferencing, video surveillance, and video analytics. The company has a strong focus on cloud-based video management solutions and is investing heavily in developing new technologies and solutions. IBM has a large presence and a diverse customer base, including many Fortune 500 companies. The company is well-positioned to compete with Cisco Systems and other leading players in the Video Managed Services Market.
Key Companies in the Video Managed Services Market Include
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NTT DATA Corporation
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CenturyLink, Inc.
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Lumen Technologies, Inc.
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DXC Technology Company
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IBM Corporation
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BT Group plc
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Hewlett Packard Enterprise Development LP
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Fujitsu Limited
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Cisco Systems, Inc.
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Wipro Limited
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Tata Consultancy Services Limited
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Atos SE
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Verizon Communications Inc.
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Kyndryl Holdings, LLC.
Video Managed Services Market Industry Developments
The Video Managed Services Market is projected to reach USD 362.8 billion by 2032, exhibiting a CAGR of 17.76% from 2024 to 2032. This growth is attributed to the increasing adoption of video surveillance solutions by businesses and governments to enhance security and operational efficiency.
Additionally, the growing demand for cloud-based video management systems and the integration of artificial intelligence (AI) and machine learning (ML) technologies are further driving market expansion. Recent developments include the launch of advanced video analytics solutions by key players such as Cisco and Honeywell, enabling real-time threat detection and proactive responses.
Video Managed Services Market Segmentation Insights
Video Managed Services Market Deployment Mode Outlook
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On-premises
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Cloud-based
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Hybrid
Video Managed Services Market Service Type Outlook
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Video Surveillance as a Service (VSaaS)
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Managed Video Surveillance (MVS)
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Video Network Management
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Video Analytics
Video Managed Services Market Application Outlook
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Security and Surveillance
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Business Intelligence
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Compliance Management
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Customer Experience Management
Video Managed Services Market Vertical Outlook
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Retail
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Banking, Financial Services, and Insurance (BFSI)
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Transportation
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Education
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Healthcare
Video Managed Services Market Organization Size Outlook
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Small and Medium-sized Enterprises (SMEs)
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Large Enterprises
Video Managed Services Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
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Report Attribute/Metric
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Details
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Market Size 2022
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70.73(USD Billion)
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Market Size 2023
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83.29(USD Billion)
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Market Size 2032
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362.8(USD Billion)
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Compound Annual Growth Rate (CAGR)
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17.76% (2024 - 2032)
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Report Coverage
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Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
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Base Year
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2023
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Market Forecast Period
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2024 - 2032
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Historical Data
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2019 - 2023
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Market Forecast Units
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USD Billion
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Key Companies Profiled
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NTT DATA Corporation, CenturyLink, Inc., Lumen Technologies, Inc., DXC Technology Company, IBM Corporation, BT Group plc, Hewlett Packard Enterprise Development LP, Fujitsu Limited, Cisco Systems, Inc., Wipro Limited, Tata Consultancy Services Limited, Atos SE, Verizon Communications Inc., Kyndryl Holdings, LLC.
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Segments Covered
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Deployment Mode, Service Type, Application, Vertical, Organization Size, Regional
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Key Market Opportunities
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Cloud-based video surveillance
AI-powered analytics remote monitoring cybersecurity 5G connectivity
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Key Market Dynamics
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Rising Cloud Adoption Advancements in AIML Growing Adoption of Unified Communications and Collaboration Increasing Demand for Security and Compliance Proliferation of IoT Devices
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Countries Covered
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North America, Europe, APAC, South America, MEA
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Frequently Asked Questions (FAQ) :
The Video Managed Services market size is expected to reach USD 362.8 billion by 2032, exhibiting a CAGR of 17.76% from 2024 to 2032.
North America is expected to dominate the Video Managed Services market throughout the forecast period due to the presence of major technology companies and early adoption of cloud-based solutions.
The key growth drivers of the Video Managed Services market include increasing demand for video surveillance, cloud-based video management solutions, and the growing adoption of artificial intelligence (AI) and analytics in video surveillance systems.
The retail industry is expected to have the highest demand for Video Managed Services due to the need for enhanced security and surveillance in retail stores.
The key competitors in the Video Managed Services market include Cisco Systems, Inc., IBM Corporation, Honeywell International Inc., Axis Communications AB, and Bosch Security Systems, Inc.
Key trends shaping the Video Managed Services market include the adoption of cloud-based video management solutions, the integration of AI and analytics, and the increasing demand for managed services from small and medium-sized businesses (SMBs).
The key challenges faced by the Video Managed Services market include concerns about data privacy and security, the lack of skilled professionals, and the high cost of implementation and maintenance.
The key opportunities for growth in the Video Managed Services market include the increasing demand for remote monitoring and surveillance, the growing adoption of smart cities, and the expanding use of video analytics.
The Video Managed Services market is expected to grow at a CAGR of 17.76% from 2024 to 2032.
The increasing need for enhanced security, the growing demand for remote monitoring and surveillance, and the expanding use of video analytics are the key factors driving the adoption of Video Managed Services.
