The ‘Global Video Surveillance Storage Market Size, Share, Growth, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global video surveillance storage market, assessing the market on the basis of its segments like product, deployment model, storage media, vertical, and major regions.
The key highlights of the report include:
Market Overview 2018-2028
• Forecast CAGR (2023-2028): 6.3%
The global video surveillance storage market is expected to register growth during the forecast period on account of the adoption of IP cameras coupled with the demand for video surveillance as well as its storage to secure public places. The rising threats in the healthcare and pharmaceutical industry such as drug-related crimes, patient outbursts, and gang violence are likely to increase the market demand for video surveillance storage across the globe.
To facilitate video observation of sidewalks, nearby parking facilities, streets, hallways, ambulance bays, entrances, and emergency departments along with waiting areas to avoid the incidence of criminal or violent acts, adequate video surveillance storage is needed. Even if real-time indicators are missed, the video surveillance storage enables personnel to look over past recorded videos to find required information. With the rising risk cases of crime as well as terrorist attacks, the market demand is likely to catalyse over the coming years.
The growing usage of video surveillance storage in large enterprises due to the enhanced generation of data as a result of massive offices is likely to push forward the demand for video surveillance storage solutions worldwide. Moreover, there is an increasing adoption of high-resolution cameras for high quality surveillance videos in critical or crime-prone areas. This is likely to aid the growth of the video surveillance storage market over the forecast period.
Video Surveillance Storage Industry Definition and Major Segments
Video surveillance refers to the act of monitoring a scene or scenes by transmitting the visuals for specific behaviours, persons, or activities. To be able to view video surveillance beyond real-time, it needs adequate storage, in the form of video surveillance storage.
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Based on product, the market is segmented into:
• Network Attached Storage
• Storage Area Network
• Direct Attached Storage
• Others
By deployment model, the market is categorised into:
• Cloud-Based
• On-Premises
On the basis of storage media, the market is classified into:
• Solid State Drives
• Hard Disk Drives
Based on the vertical, the market is segmented into:
• Banking, Financial Services, and Insurance (BFSI)
• Healthcare and Pharmaceutical
• Government and Defence
• Transportation and Logistics
• Media and Entertainment
• Education
• Retail
• Manufacturing, Energy, and Utilities
• Others
Based on region, the market is divided into:
• North America
• Latin America
• Asia Pacific
• Europe
• Middle East and Africa
Video Surveillance Storage Market Trends
Geographically, the Asia Pacific region is anticipated to gain momentum over the coming years in the video surveillance storage market growth. This is on account of a rapid expansion in the deployment of VSS solutions to store video surveillance footage either in the cloud or on-premise. The growing IT industry along with the expansion of cloud businesses across the Asia Pacific region is also expected to fuel the market growth for video surveillance storage in the region.
The surging adoption of IP surveillance systems by several governments across the Asia Pacific region to prevent and solve crimes is likely to boost the demand for the video surveillance storage market over the coming years. The increasing usage of AI in video surveillance offers significant help in identifying unusual incidents and generating alerts, boosting the advantages offered by video surveillance.
Meanwhile, the North America region is expected to witness growth in the video surveillance storage market share over the forecast period. This is owing to the growing adoption of facial surveillance in countries such as the United States and Canada. The strong presence of key market players like Cisco Systems, Inc, and Dell Technologies Inc, among others, is further likely to enhance the market growth of video surveillance storage across the region.
Key Market Players
The major players in the global video surveillance storage market are
• Cisco Systems, Inc
• Dell Technologies Inc
• Huawei Technologies Co., Ltd
• Rasilient Systems Inc.
• Hitachi Vantara LLC
• Seagate Technology LLC
• Schneider Electric SE
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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