Increasing necessity and mandates for video surveillance across industry verticals and regions drive the demand for video surveillance storage market
The use of video surveillance in enterprises across different industry verticals is rising, leading to new challenges such as managing surveillance systems as well as storing the exponentially growing amount of raw video footage. Most of the large enterprises deploy usually more than 50 cameras that operate 24*7 for safety and security purposes. The number of surveillance cameras along with the significance of video analytics is estimated to rise and so is the requirement of their surveillance storage. Hence the global video surveillance storage market size is anticipated to reach USD 19 billion by 2025.
The gaining prominence of cloud-based storage solutions along with the need to mandate with required security compliance is likely to trigger the growth of video surveillance storage market over the forecast period. However, high expenses associated with the storage equipment hinders the growth of the industry. Also, the risk of vendor lock-in, which restricts the users from shifting to other vendor’s platform, is projected to hold the video surveillance storage market growth
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.
The global video surveillance storage market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The global video surveillance storage market is a wide range to North America, Asia Pacific, Europe, 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.
Segment Overview of Global Internet of Video Surveillance Storage Market
Storage Technology Overview, 2018-2025 (USD Billion)
- Storage Area Network
- Network Attached Storage
- Direct Attached Storage
- Video Recorders
Storage Media Overview, 2018-2025 (USD Billion)
- Hard Disk Drives (HDD)
- Solid Disk Drives (SDD)
Applications Overview, 2018-2025 (USD Billion)
- City Surveillance
Regional Overview, 2018-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America