Video Surveillance Storage Market Surges Ahead with Growing Video Analytics Adoption | Growing at CAGR of 12.3%

The market for video surveillance storage, which was valued at $12.3 billion in 2021, is anticipated to increase to $39.5 billion by 2031, with a compound annual growth rate (CAGR) of 12.3% between 2022 and 2031.

The practice of saving real-time video data generated by security cameras on a storage device is known as video surveillance storage. In order to evaluate the event or action as proof of the state in file or block form, the data can then be recovered at a later time. Campus safety, hospital and patient safety, stadium safety, airline safety, and police safety all use video surveillance systems. Additionally, video security cameras are utilized to record a lot of data, necessitating increased network bandwidth and storage space.

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The video surveillance storage market is driven by several key factors, including the increasing adoption of video surveillance systems across various industries, the growing need for high-capacity storage solutions, advancements in video surveillance technology, and the rising demand for cloud-based storage options. These drivers contribute to the market's growth and provide opportunities for storage solution providers.

One of the primary drivers is the widespread adoption of video surveillance systems for security and surveillance purposes. Industries such as retail, banking, transportation, and government are deploying video surveillance systems to monitor and secure their premises, assets, and personnel. As the number of cameras and the resolution of video footage increase, the demand for reliable and scalable storage solutions rises.

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The exponential growth of data generated by video surveillance cameras is another driver for the market. High-definition cameras, continuous recording, and longer retention periods require ample storage capacity. Consequently, organizations are seeking storage solutions that can accommodate large volumes of video data while ensuring accessibility and data integrity.

Advancements in video surveillance technology, such as higher-resolution cameras, video analytics, and AI-powered video processing, are also influencing the market. These advancements result in increased data size and the need for more efficient storage solutions that can handle the processing and storage requirements of modern video surveillance systems.

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The key players that operate in the video surveillance storage market analysis are Carbon Black Inc., Cisco Systems, Inc., Crowdstrike Inc., Intel Corporation, McAfee, LLC, Microsoft Corporation, Palo Alto Networks, Inc., RSA Security LLC., Symantec Corporation, and Trend Micro Incorporated. These players have adopted various strategies to increase their market penetration and strengthen their position in the video surveillance storage industry.

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