VSaaS is a cloud-based video surveillance service that allows organizations to monitor video feeds remotely. The technology eliminates the need to store and manage content from on-site servers, reducing cost and overhead. VSaaS providers also leverage innovative technologies like AI to detect threats and send notifications autonomously, increasing the efficiency of security systems and decreasing response times.
The demand for cloud-based VSaaS market will continue increasing yearly, reaching a 13.4 billion market evaluation by 2029. As a result, many telecom carriers have entered this competitive industry raising the question: what gives these companies the confidence to venture into a completely new sector by offering customers revolutionary technology solutions based on VSaaS?
Furthermore, why are only a select few telecom companies taking the lead in becoming significant players in providing Video Surveillance as a Service (VSaaS) solutions?
In this article, we will explore the relationship between telecom carriers and the emerging VSaaS industry by addressing the following:
- Pain points in the video surveillance market
- What advantages do telecom operators possess that enable them to provide superior surveillance solutions?
- How easily these companies can exponentially increase revenue by leveraging existing cloud-based VSaaS software platforms.
After reading, you’ll gain an extensive understanding of the emerging industry and how telecom providers are positioned to profit significantly if they adopt these new innovative video surveillance solutions.
Challenges in the Video Surveillance Market
Many pain points exist in the ever-evolving technical landscape that combines high-definition video with cutting-edge software and cloud-based storage as a B2B and B2C service.
For example, a significant challenge facing the B2C sector is the complexity of deploying a video surveillance system in private residences. Because every house or apartment is different, many variables must be considered. For example, how many cameras are required? Where is the best positioning? What kind of aperture do the lenses require? Because there are so many specifics, the optimal solution is utilizing a professional service provider so the end customer doesn’t have to worry about installation or maintenance.
In the B2B sector, implementing, maintaining, and troubleshooting video surveillance systems in locations such as shopping malls, office buildings, airports, and factories can be complex and challenging, involving numerous cameras and addressing scalability, software compatibility, privacy, and other issues. In many cases, adequate video coverage requires hundreds of cameras, raising significant concerns regarding scalability, integrating software with hardware vendors, and privacy.
Considering these challenges, telecom carriers with extensive IT infrastructure are well-equipped to tackle them. Utilizing existing data centers, high-performance networks, strong cybersecurity standards, and scalability capabilities, telecoms are ideal providers for both B2C and B2B video surveillance solutions.
However, transitioning to software-based Video Surveillance as a Service (VSaaS) can also pose challenges as they embrace cloud-based solutions. To overcome this, a prospective approach could involve partnering with a software vendor to offer VSaaS services.
The key for telecom carriers is to leverage their resources and strengths when diversifying into the VSaaS market. Partnering with VSaaS software providers who understand the complex landscape and growing demand for AI and ML capabilities, such as facial recognition, threat detection, people counting, and more, is essential to meet customer expectations.
In summary, the most efficient approach for telecoms to enter the VSaaS market is to find a partner with an easy-to-use platform that allows them to create their own video surveillance solution.
Telecom Meets VSaaS
Telecom companies are in the perfect position to offer customers cloud-based VSaaS solutions. Their most significant advantage is their existing infrastructure to effectively manage the systems. In the following section, we will explore additional reasons why telecom and VSaaS solutions are the perfect match.
How Telecom Operators Can Benefit by Launching Video Surveillance Services
According to a recent study by McKinsey, 77% of telecom CEOs stated that their companies are diversifying into new sectors to compensate for the diminishing returns on investments in 3G and 4G technology.
One of the sectors telecom providers are shifting resources to is cloud-based VSaaS services.
Telecom operators can unlock new value-added services by leveraging VSaaS. These may include video analytics as a service, smart intercoms, or revolutionary AI detection solutions, which can create new recurring revenue streams and offer customers cutting-edge surveillance services.
Let’s delve into some of the options.
Offering new technology through subscriptions is one of the most profitable ways telecom operators can leverage VSaaS. For example, carriers can provide subscribers with video surveillance solutions as an add-on to their internet or cable TV plans. As a result, they can boost retention rates, improve customer loyalty, and create additional revenue streams by expanding their product offerings.
In this business model, B2C and B2B users only pay for the VSaaS service as needed. For instance, a retail store could opt for this plan during vacation periods to ensure redundancy and safeguard their premises. One notable advantage of this model is its appeal to customers who prefer not to commit to monthly or annual subscriptions.
Partnering with Other Businesses
Telecom carriers can diversify revenue by collaborating with companies that provide similar services. For example, operators can utilize services from security integration companies or professional installers to offer customers a comprehensive experience. The relationship is advantageous for both parties through referrals and revenue-sharing agreements.
In summary, VSaaS presents an opportunity for telecom operators to generate ongoing revenue streams while delivering innovative surveillance solutions to their customers. Moreover, from a strategic perspective, telecoms are well-suited to launch VSaaS solutions, as we will delve into further below.
Telecom Infrastructure with VSaaS Technology
If you are an executive at a telecom communications company, you may have reasonable concerns with investing in technology beyond your current scope of services. If that’s the case, consider the following statistic; according to GlobeNewswire, the VSaaS industry is projected to have a compound annual growth rate of 18.2% over the next decade.
Now consider the advantages Telecom carriers have over other companies entering the industry.
Established Customer Relationships
Due to their established customer relationships, telecom operators have a distinct advantage in introducing VSaaS (Video Surveillance as a Service) solutions. With a deeper understanding of customers’ demands, telecoms are perfectly positioned to introduce new value-added services. In addition, customers are far more likely to trust their existing telecom carrier than an unfamiliar service provider. Thus, leveraging their existing customer relationships, telecom operators can confidently and seamlessly introduce VSaaS solutions, providing enhanced services that meet their customers’ evolving needs.
Payment and Collection Operations are Already Set Up
Complex, secure billing systems are complicated to build. As a result, telecom companies can add additional services using their existing billing system, reducing challenges in going to market. Additionally, existing customers can confidently pay for services using their secure, user-friendly payment processing platform.
The success rate of selling to a new customer is as low as 5% while existing customers convert at a rate of 60-70%. As a result, bundling VSaaS with internet, phone, or cable can increase client retention and offer new recurring revenue streams for telecom companies. For example, a carrier could provide customers with home monitoring that combines phone, internet, and video surveillance services giving the customer a comprehensive security solution.
Customization and Integration for B2C and B2B Customers
Telecom providers can confidently leverage VSaaS to deliver tailored surveillance solutions that cater to the unique needs of both their B2C and B2B subscribers. By collaborating with software companies like Aipix, telecom operators can seamlessly integrate existing infrastructure with cutting-edge cloud-based video surveillance, offering an end-to-end solution.
Expedite Time to Market by Integrating with Software
While telecom carriers have extensive infrastructure, established consumer relationships, and a deep understanding of B2C and B2B clients, they lack the technical expertise to deploy VSaaS. As a result, the logical solution is to integrate with a software platform vendor because of the following benefits:
- Fast deployment to market thanks to out-of-the-box VSaaS solution
- White Label solutions
- Automated camera provisioning
- Innovative smart security services
- Unlimited scalability and high reliability
- AI-based video analytics as an additional service
- Unified dashboards
- Hybrid cloud or public/private cloud deployment
- No vendor lock-in since the platform is compatible with any IP camera
- Powerful API integration
VSaaS can help telecom providers by offering:
- Cost-Effective Solutions – Telecom operators can offer customers lower-cost surveillance services because they don’t need to invest or maintain on-premise servers.
- Scalability and Flexibility – VSaaS is ready to scale and highly flexible, allowing telecoms to accommodate consumer needs.
- Enhanced Security Features – Existing VSaaS platforms already have innovative features such as advanced AI analytics, automated alerts, and smart intercom services.
- Easy-to-Deploy Platform – Utilizing a software allows telecom companies to set up solutions fast and efficiently, allowing services to be rolled out without investing significant time or resources.
- Multitenancy – Empower end-users to confidently exercise complete control over their dedicated video surveillance system, facilitated by the Telecom Service Provider (SP).
- Out-of-the-box Solutions – The ready-to-use service helps telecoms focus on providing exceptional services and leverage existing infrastructure.
In conclusion, cloud-based software companies like Aipix > Platform for VSaaS offer substantial value to telecom carriers by offering revolutionary video surveillance technology. Partnering with an established software vendor allows telecom carriers to launch value-added services and generate new revenue streams. In addition, a flexible solution ready to scale ensures the services will accommodate customers. We predict that telecom carriers will be significant players in the VSaaS industry due to their robust infrastructure, loyal customers, and existing business practices that can easily leverage exciting, innovative technology.