At present, the video surveillance industry is witnessing a massive growth due to increase in the use of surveillance cameras for security and protection. According to a study by Seagate Technology LLC, approximately 566 petabytes of data is being generated in one day from new video surveillance cameras installed worldwide in 2016. This daily data volume is estimated to reach 3500 petabytes, by 2023. This rapid increase in volume is also raising the tremendous capacity and performance demands of computing, storage, and networking resources. This rising data demands existing storage infrastructures to their limits.
The growing safety concerns among public and enterprises, and the rise of internet of things are primarily driving the market. The new technological developments in the field of storage and low cost of hard disk drives are fuelling the market growth. However, low awareness regarding video surveillance and latest storage technologies are hampering the market growth. The adoption of cloud-based services among enterprises will provide an opportunity to boost the video surveillance storage market. The major challenge for the video surveillance storage market is the retention period over a limited amount of storage.
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Major key Players
Cisco Systems (U.S.),
Hitachi Ltd. (Japan),
Seagate Technology LLC (U.S.),
Robert Bosch GmbH (Germany),
Honeywell International Inc. (U.S.), Avigilon Corporation (Canada), Schneider Electric SE (France). They are innovating and are investing in research and development activities to generate a cost-effective product portfolio.
Pelco, Inc.(U.S.), Quantum Corporation (U.S.), Buffalo Technology (Japan), Iveda Solutions Inc. (U.S.), Promise Technology Inc. (U.S.), Mindtree Limited (India), and Arxys Software Orchestrated Storage (U.S.), are some of the key innovators in the market. Western Digital Corporation (U.S.), Pacific Controls (UAE), Johnson Controls (U.S.), Rasilient Systems Inc. (U.S.), Nexsan Corporation (U.S.), Eyecast Inc. (U.S.), Veracity Inc. (U.K), Fujitsu (Japan) are among others.
According to MRFR, The Global Video Surveillance Storage Market is estimated to grow up to USD 38 billion at CAGR 25% through the forecast period.
The global video surveillance storage market is segmented on the basis of storage technology, type of storage, deployment, services, organization size, vertical and region. On the basis of storage technology the market is further classified into Network Attached Storage (NAS), Storage Area Network (SAN), and Direct Attached Storage (DAS). On the basis of storage type the market is further classified into Hard Disk Drives (HDDs), Solid State Drives (SDDs). On the basis of deployment, the market is further classified into on-cloud and on-premise. On the basis of services, the market is further classified into professional and managed services. On the basis of organization size, the market is further classified into SME and large enterprises. The video surveillance storage covers wide area of verticals such as BFSI, education, retail, transportation, healthcare, government and others.
The global video surveillance storage market is studied for North America, Europe, Asia Pacific and rest of the world. North America is anticipated to hold major market share through the forecast period. The increasing surveillance data and need for cloud-based storage solutions are driving the market in this region. The presence of key players in the region and development of innovative storage solutions are fuelling the market growth. Asia Pacific is expected to exhibit high growth are during the forecast period. The adoption of video surveillance across various enterprises and the need for storage facilities are driving the market in this region. The video analytics such as motion detection, object detection and various tools are fuelling the market growth
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- Governmenet agencies
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