The Video Surveillance Storage market is expected to grow at a CAGR of 7.12% to reach USD 12.14 Billion in 2028.
The market size for global video surveillance storage is anticipated to reach USD 19 billion by 2025. Increasing demand for security observation and surveillance on account of rising criminal and threat activities is the key factor to propel the video surveillance systems market. Moreover, technological advancements such as queue management analysis, license plate recognition, advanced objected tracking, and facial surveillance have promoted the growth of video surveillance storage systems globally.
Video surveillance storage includes storing real-time visual data produced by the cameras within the storage equipment. The data can be recovered for investigation at a later stage in case of any event or incidence as a proof for a circumstance in either block or file format. Video surveillance systems are widely used for airport safety, hospital & patient safety, campus security, police safety, stadium safety, among others. Additionally, the surveillance cameras are used to capture a substantial amount of information requiring scaling of storage capacity and network bandwidth.
Video Surveillance Storage Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 12.14 Billion|
|Growth Rate||CAGR of 7.12 % during 2021-2028|
|Segment Covered||Type, Vertical, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Honeywell International Inc., Hanwha Techwin Co. Ltd., Agent Video Intelligence Ltd., Tiandy Technologies Co. Ltd., Genetec Inc., Dahua Technology USA Inc., MOBOTIX, VIVOTEK, Axis Communications AB|
Key Segment Of The Video Surveillance Storage Market
By Application, 2021-2028 (USD Million)
• Government And Transportation
• Healthcare And Hospitality
• Enterprise And Data Centre
By Product Type, 2021-2028 (USD Million)
By Deployment, 2021-2028 (USD Million)
Regional Overview, 2021-2028 (USD Million)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
Significant growth in investments within the safety & security against terrorist attacks, increase in smart city projects globally, along with the rise in the focus of artificial intelligence (AI) and Internet of Things (IoT) in the video surveillance systems are expected to fuel the demand for video surveillance systems globally. On the other hand, the organizations have come up with time-saving and highly efficient video surveillance systems that have paved a way for the growth of such systems. In the last few years, growth in demand for real-time data by the law enforcement and security agencies to maintain safety and security in the cities have encouraged the industry players to facilitate advanced surveillance equipment. Additionally, the implementation of cloud-based services for maintaining databases is anticipated to offer lucrative growth prospects for the video surveillance industry.
Storage Technologies Segment
Based on the storage technologies segment, the market is bifurcated into a storage area network, network-attached storage, direct-attached storage, and video recorders. In 2019, the storage area network segment gathered the largest Market revenue and it is anticipated to govern the video surveillance storage market throughout the forecast period. The major share of segment revenue is likely to come from the North American region, since the presence of Tech companies, as well as security & surveillance spending, is the highest within the region. However, the network-attached storage segment is anticipated to grow at a substantial growth rate over the forecast period.
Storage Media Segment
Based on the storage media, the Market is segmented into hard disk drives and solid disk drives. The Market for solid disk drives is anticipated to possess the largest Market share in 2019. However, the hard disk storage is likely to grow with a significant growth rate since the enterprises today are predominantly developing to match their user needs.
Based on the application, the market is segmented into hard commercial, defense, city surveillance and industrial. The Market for commercial and defense segments has a significant contribution to the video surveillance storage market. However, city surveillance is likely to grow with a significant growth rate due to the growing implementation of smart cities.
The global video surveillance storage market is a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. North America is considered a mature market in the video surveillance storage, owing to an outsized presence of organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the video surveillance storage market in North America.
The major players of the global video surveillance storage Market are Cisco, Hitachi, Dell, Honeywell, Avigilon, NetApp, Bosch, Seagate, Quantum, and Schneider Electric. The video surveillance storage market is fragmented with the existence of well-known global and domestic players across the globe.