Video Surveillance Storage Market With 12% CAGR, to Reach USD 41.6 Billion 2032 | Leading Companies, Growth Demand Value Chain Analysis, and Forecast

Video Surveillance Storage Market Size in 2022 was USD 13.5 Billion, Market Value set to reach USD 41.6 Billion at 12% CAGR by 2032

Video Surveillance Storage Market Overview

The Video Surveillance Storage Market is a rapidly growing market that provides storage solutions for video surveillance systems in various applications. This market has been driven by the need for security and surveillance in various industries such as retail, banking, transportation, and government. The demand for high-resolution cameras and the adoption of video analytics are some of the key factors contributing to the growth of this market. With the rise of IoT and the trend of smart cities, the Video Surveillance Storage Market is estimated to continue to grow at a significant pace. Network-attached storage (NAS) and cloud storage are the leading storage technologies in this market, while on-premise deployment is favored due to security concerns. The North American region currently dominates the market, while the Asia-Pacific region is estimated to see the highest growth in the coming years.

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Video Surveillance Storage Market Research Report Highlights and Statistics

● The global Video Surveillance Storage market size in 2022 stood at USD 13.5 Billion and is set to reach USD 41.6 Billion by 2032, growing at a CAGR of 12%
● The growth of the market is attributed to the increasing adoption of cloud-based storage solutions, the rise in demand for high-resolution cameras and the need for video analytics.
● North America is estimated to hold the largest share of the market with Asia Pacific being the fastest growing region amongst all.
● Video Surveillance Storages are used for various purposes, including customer service, sales and marketing, and internal process automation. They can help businesses reduce costs and improve customer engagement and satisfaction.

Trends in the Video Surveillance Storage Market

● Use of thermal imaging and 3D mapping in video surveillance systems for improved accuracy and depth perception.
● Increasing use of drones and unmanned aerial vehicles (UAVs) for video surveillance in remote areas and during emergency situations.
● Growing use of facial recognition and license plate recognition technologies in video surveillance systems for enhanced security.
● Emergence of video surveillance as a service (VSaaS) solutions that offer video surveillance storage as a subscription-based service.
● Adoption of hyper-converged infrastructure (HCI) in video surveillance storage for better performance and scalability.
● Increasing use of deep learning algorithms in video surveillance systems for better object detection and recognition.
● Development of advanced video compression technologies such as H.265 and H.264 to reduce storage and bandwidth requirements.

Video Surveillance Storage Market Dynamics

● Increasing adoption of video surveillance systems in various industries for security and safety.
● Growing concern for public safety and the need for video surveillance in public areas such as airports, train stations, and stadiums.
● Advances in digital video surveillance technology, including higher resolution cameras and better analytics capabilities.
● Increasing demand for video surveillance systems in retail stores to prevent theft and improve inventory management.
● Government initiatives to install video surveillance systems in public areas for safety and security.
● Adoption of hyper-converged infrastructure in video surveillance storage for better performance and scalability.
● Increasing adoption of video surveillance systems in the transportation industry, including airports, trains, and buses, for safety and security.

Growth Hampering Factors in the market for Video Surveillance Storage

● Concerns over privacy and data protection laws that limit the use of video surveillance systems.
● Limited storage capacity and bandwidth, which can result in reduced video quality and delayed response times.
● High initial installation and maintenance costs of video surveillance systems.
● Technical issues and integration challenges when deploying video surveillance systems across multiple locations and systems.
● Cybersecurity concerns related to video surveillance systems and the risk of data breaches or hacking.
● Legal and regulatory issues related to the use of video surveillance systems, including data retention and sharing.
● High power consumption and environmental concerns related to the operation of video surveillance systems.
● Difficulty in managing and analyzing large volumes of video data generated by video surveillance systems.

Market Segmentation

● By Component
○ Software
■ Video Management Software
■ Video Analytics
○ Hardware
■ Storage Area Network
■ Direct Attached Storage
■ Network Attached Storage
■ Other
○ Services
■ Managed
■ Professional

● By Storage Media
○ SSD
○ HDD

● By Enterprise size
○ SMES
○ Large Enterprise

● End User
○ Education
○ BFSI
○ Manufacturing
○ Healthcare and Pharmaceutical
○ Media and Entertainment
○ Transportation and Logistics
○ Retail
○ Government and Defense
○ Others

Video Surveillance Storage Market Key Players

Dell Technologies Inc., Axis Communications AB, Zhejiang Dahua Technology Co., Ltd. Bosch Security and Safety Systems, Canon Inc., Cisco Systems, Inc., Fujitsu Ltd., Genetec Inc., Hangzhou Hikvision Digital Technology Co., Ltd., Huawei Technologies Co., Ltd., IBM Corporation, Johnson Controls International plc, Milestone Systems A/S, NetApp, Inc., Panasonic Corporation, Quantum Corporation, Seagate Technology LLC, Veracity UK Ltd., Honeywell International Inc. and Western Digital Corporation.

Video Surveillance Storage Market Overview by Region

● Asia Pacific region's Video Surveillance Storage market share is the highest globally, due to the increasing adoption of video surveillance systems in various industries and the growing trend of smart city projects. The region is also home to several major players in the video surveillance storage market, including Hikvision, Dahua Technology, and Axis Communications. China is the major contributor to the Asia-Pacific market due to its significant investment in smart city projects and the growing demand for video surveillance systems in the transportation industry.
● North America's Video Surveillance Storage Market share is also huge and is growing at the fastest rate, due to the increasing adoption of video surveillance systems in various industries such as healthcare, banking, and transportation. The rise of smart cities in the region has also led to the growing demand for video surveillance systems in public areas. The US is the major contributor to the North American market due to its significant investment in smart city projects and the growing adoption of cloud-based video surveillance storage solutions.
● Europe is another key market for Video Surveillance Storage, driven by the increasing adoption of video surveillance systems in the retail and commercial industries. The region also has strict regulations related to data protection and privacy, which have led to the adoption of advanced encryption technologies in video surveillance storage solutions. Germany and the UK are the major contributors to the European market due to their significant investment in smart city projects and the growing demand for video surveillance systems in the transportation industry.
● The South American and MEA regions have a smaller albeit growing Video Surveillance Storage market share.

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