Rise in installation of video surveillance system owing to security concerns and Availability of inexpensive hard disk have boosted the growth of the global video surveillance storage market. Based on region, Asia-Pacific accounted for the highest share in 2021, contributing to around two-fifths of the total market share, and is projected to continue its leadership status by 2031.
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The global video surveillance storage market generated $12.3 billion in 2021, and is estimated to reach $39.5 billion by 2031, witnessing a CAGR of 12.3% from 2022 to 2031. The report provides an in-depth analysis of top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.
The report offers detailed segmentation of the global video surveillance storage market based on component, storage media, industry vertical, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps investors, market players, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Report coverage & details:
- Forecast Period – 2022¬–2031
- Base Year – 2021
- Market Size in 2021 – $12.3 billion
- Market Size in 2031 – $39.5 billion
- CAGR – 12.3%
- No. of Pages in Report – 320
- Segments covered – Component, Storage Media, Industry Vertical, and Region
- Drivers – Rise in installation of video surveillance system owing to security concerns
Advances in storage technology
Availability of inexpensive hard disk
- Opportunities – Rise in government regulations for installating video surveillance system in public places
- The Covid-19 pandemic positively impacted the adoption of video surveillance storage system.
- Companies had focused on emerging technologies such as AI, IoT, and cloud computing that reduce processing time and resource-efficient across industries such as BFSI, government, and healthcare to perform contactless operations.
- Moreover, the pandemic encouraged the use of contactless solutions such as facial recognition in video surveillance system.
Based on type, the hardware segment accounted for the highest share in 2021, contributing to more than half of the total share, and is expected to maintain its leadership status during the forecast period. However, the software segment is expected to manifest the highest CAGR of 14.65% from 2022 to 2031.
Based on storage media, the hard disk drive segment held the largest share in 2021, accounting for nearly three-fourths of the global video surveillance storage industry, and is expected to maintain its dominance in terms of revenue by 2031. However, the solidstate drive segment is estimated to witness the largest CAGR of 14.22% during the forecast period.
On the basis of enterprise size, the large enterprises segment dominated the market in 2021, accounting for around two-thirds of the market, and is projected to maintain its leading position throughout the forecast period. However, the SMEs segment is estimated to showcase the highest CAGR of 14.23% during the forecast period.
Based on region, Asia-Pacific accounted for the highest share in 2021, contributing to around two-fifths of the total market share, and is projected to continue its leadership status by 2031. However, the market across North America is projected to portray the fastest CAGR of 14.97% during the forecast period. The research also analyzes regions including Europe and LAMEA.
Leading players of the global video surveillance storage market analyzed in the research include 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.
The report analyzes these key players in the global video surveillance storage market. These players have adopted various strategies such as new product launches, expansion, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of every market player.
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Source: Globe newswire