Global Video Surveillance Storage Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
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Global Video Surveillance Storage Market: Overview
"The Video Surveillance Storage Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
Video surveillance storage is a system that stores data or videos generated by surveillance systems. In addition, these data can be stored within the premise or managed by a third-party vendor. This data can be analyzed, manipulated, and retrieved as required.
Rising concerns associated with the safety and security of an individual are expected to increase the adoption of surveillance systems which in turn is expected to drive the growth of the global video surveillance storage market over the forecast period.
The growing need to scale traditional database systems and the demand for unlimited storage access by video streaming enterprises is a key factors in supporting the growth of the potential market.
Increasing preferences to safeguard the working surrounding or environment or premises by various organizations across the globe is another factor in boosting the growth of the target market, owing to the record 24*7 services offered by these storage systems.
Moreover, reduced cost of hard disk drives and increasing advancements in the development of storage systems to offer a fault-tolerant design which delivers reliable and fact availability of storage are among some of the major factors expected to propel the growth of the market during the forecast period.
However, the high bandwidth requirement associated with transferring recorded data by video surveillance storage systems increases the overall cost and, in turn, could hamper the growth of the target market to a certain extent.
In addition, a lack of awareness regarding the availability of scalable and reliable storage technologies and systems in developing economies across the globe is a challenging factor that would promote the restraint growth of the target market.
Increasing technological advancement and R&D activities, automated data storage facilities, and recognition of fraudulent entities especially emerging technologies such as pattern recognition, are key factors expected to create significant revenue growth opportunities for players operating in the global video surveillance storage market in the coming ten years.
Global Video Surveillance Storage Market: Segment Analysis
Among the storage technology segments, the storage area network (SAN) segment is expected to register the highest CAGR and dominate the global market. This segment growth is primarily attributed to increasing digitalization and adoption of fiber channel connectivity that offers reliable, scalable, and high-performance storage solutions.
Among the vertical industry segments, the banking, financial services, and insurance (BFSI) segment is expected to dominate and register the highest revenue share in the global market. Moreover, these organizations require secure premises, resulting in the high adoption of surveillance systems.
Global Video Surveillance Storage Market: Region Analysis
The video surveillance storage market in North America is expected to contribute the highest revenue share globally and dominate the target market. Countries such as the US and Canada are further expected to anticipate high revenue growth in the global market owing to the high presence of prominent players operating in these countries in North America.
The market in the Asia Pacific is expected to register significant growth in terms of CAGR and is expected to anticipate generating the highest revenue growth opportunities for players operating globally.
Whereas the market in Latin America is expected to register lucrative growth in terms of revenue in the target market during the forecast period. This region is then followed by the market in the Europe region.
Increasing surveillance necessity in Middle East & Africa countries owing to rising concerns associated with the safety of individuals is a factor expected to support the growth of the target market in this region over the forecast period.
Global Video Surveillance Storage Market Segmentation:
Segmentation by Storage Technology:
- Storage Area Network (SAN)
- Direct Attached Storage (DAS)
- Network Attached Storage (NAS)
Segmentation by Deployment Mode:
- On Cloud
Segmentation by Industry Vertical:
- Retail & Automotive
- Government & Education
- Telecommunication and IT
- Media & Entertainment
- Healthcare & Home Security
- Banking, Financial Services, and Insurance (BFSI)
- Others (Manufacturing, Oil & Gas, Food & Beverage, etc.)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Dell, Inc.
- EMC Corporation
- Cisco Systems, Inc.
- Hitachi, Ltd.
- Netapp, Inc.
- Robert Bosch GmbH
- Honeywell International, Inc.
- Avigilon Corporation
- Schneider Electric (Pelco)
- Seagate Technology LLC
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