Global Video Surveillance Storage Market Growth to be Propelled by Growing Demand for Surveillance & Security and Installation of Storage System in Commercial Areas by CAGR of ~6% During 2022 – 2031

The global video surveillance storage market is estimated to grow at a CAGR of ~6% CAGR over the forecast period, i.e., 2022 – 2031. Moreover, in 2021, the revenue accounted to approximately USD 8.0 billion. The growth of the market can be attributed to the growing demand for cameras for surveillance and security purpose in different premises such as industries, banking, retail, and other areas. As per the World Health Organization, road accidents lead to nearly 1.3 million deaths in a year. Cameras are installed on the roadside to regulate the speed of the vehicles and they need a proper storage system to keep the record. Moreover, an increase in the installation of video surveillance storage systems in commercial areas for personal safety is expected to drive the growth of the global video surveillance storage market.

The global video surveillance storage market is segmented by deployment type into on-premise and cloud, out of which, the cloud segment is expected to hold the largest share over the forecast period. This can be attributed to the benefits provided by cloud deployments, such as cost-effectiveness, higher scalability, and higher reliability. Additionally, video surveillance based on cloud deployment is an emerging concept with a high potential in the market. Moreover, industries are opting for cloud-based surveillance to reduce costs related to software and hardware. The high level of security provided by cloud deployment is expected to boost the growth of the cloud deployment segment in the global video surveillance storage market.


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Global Video Surveillance Storage Market Regional Synopsis

Regionally, the global video surveillance storage market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to witness modest growth over the forecast period on the back of growth in the corporate sector and an increase in the number of smart cities in emerging countries. As per the India Brand Equity Foundation (IBEF), USD 868 million has been allocated to the smart cities mission in India under the union budget 2021-2022. Similarly, countries such as China and Australia are moving towards smart cities for a revolution. Additionally, these countries are installing video surveillance for safety purposes in public places that require proper storage systems.

Market Segmentation

Our in-depth analysis of the global video surveillance storage market includes the following segments:

By Enterprise Type

  • Large Enterprise

  •  Small & Medium Enterprise

By End-User

  • Residential

  • Commercial

  • Defense

  • Industrial

  • Others

By Deployment Type

  • On-Premise

  • Cloud

Growth Drivers and Challenges Impacting the Growth of the Global Video Surveillance Storage Market

Growth Drivers

  • Growing demand for surveillance and security

  • Need for high capacity storage for monitoring the speed of vehicles

  • Increase in the installation of video surveillance systems in commercial areas

Challenges

  • High cost for the installation of storage system

  • Lack of standardization among the storage system available in the market


Key Companies Dominating the Global Video Surveillance Storage Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global video surveillance storage market that are included in our report are Dell Technologies, Inc., Avigilon Corporation, Quantum Corporation, Schneider Electric, Rasilient Systems, Inc., Hitachi Vantara LLC, NetApp, Inc., Seagate Technology LLC, Huper Laboratories Co., Ltd., Micron Technology, Inc., and others.

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