EYEfi Group Technologies Inc. announced that EYEfi Cloud Connect (ECC) will release its first major product update ahead of schedule on February 18, with updated pricing and new features, positioning ECC as a market leader in the rapidly growing enterprise VSaaS market. The VSaaS market¹ is projected to grow from USD 3.3 billion in 2022 and is projected to reach USD 7.6 billion by 2027; it is expected to grow at a CAGR of 18.0% from 2022 to 2027. The growth of this market is driven by factors such as the low cost of investment, the rise in demand for real-time surveillance data, and the flexible scalability offered by VSaaS.

ECC is a VSaaS web-hosted cloud-based video surveillance solution that allows customers to remotely store, manage, record, play, and monitor surveillance footage, entirely in the cloud. The advantages of VSaaS include cost efficiency, remote access to data, secure data storage, and high reliability. EYEfi has secured a partnership with one of the camera hardware manufacturers Axis Communications.

Unlike its competitors, the EYEfi Cloud Connect offering "ships-in-the-box" with every camera purchased, and offers distributors, resellers and systems integrators the opportunity to share in revenue generated by the service offering. EYEfi's initial target was to sign six distributors within the first six months of releasing the product and has already signed three major distributors in Dicker Data, VSP Solutions and a global distributor, Anixter, and is currently negotiating with several new distributors, including one of the large global distributors headquartered in California, USA.