Market analysis and insights
The global video surveillance storage market was valued at US$12.06 billion in 2021, and it is predicted that it will grow at a CAGR of 12.8% from 2021 to 2031, reaching US$39.08 billion.
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Video analytics and artificial intelligence (AI) capabilities have been integrated with video surveillance systems to produce more intelligent and information-rich solutions. It is increasingly important to have enough storage to handle and interpret this data since video analytics produce insightful information from video footage.
Video Surveillance Storage Market Scope :
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2031 |
| Study Period | 2018-2031 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2031 | US$39.08 billion |
| Growth Rate | CAGR of 12.08 % during 2021-2031 |
| Segment Covered | by Components, by Storage Media, by Enterprise Size, by Industry Vertical, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Cisco Systems, Inc., Symantec Corporation, Carbon Black Inc., Crowdstrike Inc., Microsoft Corporation, Palo Alto Networks, Inc., Intel Corporation, McAfee, LLC, RSA Security LLC, and Trend Micro Incorporated |
Market Definition
The storage solutions and infrastructure used to store, handle, and preserve video footage obtained by video surveillance systems are referred to as video surveillance storage.
In many different contexts, including public venues, business enterprises, residential areas, industrial facilities, and government sites, video surveillance is frequently utilized for security and monitoring purposes.
Over time, a substantial amount of data is produced when video surveillance cameras continually record footage. The storage needs of this data are effectively handled by video surveillance storage systems, which also ensure dependable and safe storage, simple retrieval, and long-term preservation.
Redundancy is frequently needed in video surveillance systems to guarantee data integrity and uninterrupted operation. To prevent data loss in the event of hardware failures, RAID setups (Redundant Array of Independent Discs) and backup systems are used.
The storage infrastructure should be easily expandable as video surveillance systems expand and additional cameras are added to handle the growing volume of video data.
Administrators may frequently create retention rules for video surveillance storage solutions, defining how long video material should be kept before being automatically destroyed or archived.
Key Market Segmentation
Insights on Industry Verticals
The Healthcare Segment Valued for the Highest Share
The market for video surveillance storage is expected to develop at a CAGR of 9.7%, with the fastest-growing sector being healthcare. Gang violence, drug-related crimes, and patient outbursts are just a few of the threats that the healthcare profession faces. As a result, this industry anticipates growth in the need for video surveillance storage.
Insights on the Region
The APAC region accounted for the highest share.
A substantial market share of 38.04% is predicted for the APAC region. This is mostly due to the increase in the need for safety and security against terrorist attacks, as well as the presence of both established and emerging firms providing video surveillance storage solutions and services. A rise in the number of ""smart city"" in countries like China and India, which need video surveillance storage systems to monitor and analyze public places for security concerns, has also raised competition in the market for video surveillance storage.
Key Company Profiles
Cisco Systems, Inc., Symantec Corporation, Carbon Black Inc., Crowdstrike Inc., Microsoft Corporation, Palo Alto Networks, Inc., Intel Corporation, McAfee, LLC, RSA Security LLC, and Trend Micro Incorporated are the major companies in the video surveillance storage market.
COVID-19 Impact and Market Status
Demand for video surveillance systems to remotely monitor and control diverse settings, including public spaces, workplaces, and industrial facilities, increased as lockdowns and social seclusion measures were implemented.
Due to the additional data produced by these systems, there was a greater demand for video surveillance storage solutions. Increased demand for online purchases during the pandemic increased the burden on the e-commerce sector to provide security and avoid loss or theft.
The need for video surveillance storage increased as a result of the growth in investment in video surveillance systems. Businesses and public areas created health and safety procedures in response to COVID-19, which necessitated oversight and enforcement.
To ensure compliance, video surveillance systems were crucial, which prompted the demand for storage options to save this additional footage.
Business spending priorities were impacted by the pandemic's economic effects, which resulted in budget restrictions and lower expenditures on infrastructure that were not necessary, such as video surveillance storage solutions.
Due to pandemic-related uncertainty, labor shortages, and supply chain delays, several video monitoring installations were postponed or abandoned. This had an impact on the introduction of new security measures and, consequently, the need for storage options.
Latest Trends
1. Edge storage eliminates the requirement for centralized storage systems by storing video data directly on the surveillance camera or edge devices. Critical footage may be accessed more quickly thanks to edge storage, which also lowers the amount of bandwidth needed to send video data to central servers. Solutions for storing video security footage in the cloud are becoming more common. Scalability, remote access to video content, and automated backups are just a few of the benefits that make cloud storage a desirable alternative for companies and organizations with several locations or sparse IT infrastructure.
2. Artificial intelligence (AI) and sophisticated video content analytics (VCA) technologies were being coupled with video surveillance storage systems. This enables cognitive features like facial recognition, object detection, and behavior analysis by enabling real-time analysis of video material.
3. Finding relevant video material quickly has become simpler thanks to advancements in video search technology. Users may effectively discover certain events or objects among enormous volumes of video footage by using metadata tagging and AI-driven keyword searches.
4. Video surveillance storage systems utilize cutting-edge data redundancy techniques, such as erasure coding and distributed storage, to assure data integrity and system dependability and safeguard against data loss and hardware failures.
5. Hyper-converged infrastructure (HCI) technologies have improved and simplified video surveillance storage installation processes. HCI reduces hardware complexity and administration burden by combining storage, computation, networking, and virtualization resources into a single, scalable platform.
Significant Growth Factors
The market for video surveillance storage has been significantly influenced by the increased use of video surveillance systems for security and monitoring in a variety of industries, including commercial, industrial, residential, and public settings.
The need for storage solutions to manage the generated data grows along with the number of security cameras. Organizations and governments are investing in sophisticated video surveillance systems as a result of rising security risks, the demand for real-time monitoring, and the necessity to investigate incidents.
In order to save and retrieve video material as needed, effective storage methods are required. The size of video files has increased as a result of the development of high-resolution cameras and sophisticated video recording techniques. To accommodate the larger data volumes, this calls for more durable and scalable storage systems.
Regulations requiring the storage of video surveillance footage for a set amount of time have been adopted in several places. The need for dependable and long-term storage solutions is driven by the need to comply with such requirements.
Restraining Factors
Large amounts of high-definition video footage demand a lot of storage space, which may be expensive for businesses, especially if they want to keep the data for a long time.
Managing and organizing the expanding volume of data can be difficult due to the widespread use of surveillance cameras and the ongoing recording of video.
Data security and privacy are crucial since video surveillance data frequently contains sensitive information. The safeguarding of data and avoiding unauthorized access may pose issues for organizations.
Older systems may become obsolete due to the quick development of video surveillance technology, necessitating data transfer and updates to keep up with storage options.
Especially in large-scale installations, video data transmission from cameras to storage systems can put a demand on network capacity. Delays may result, and real-time monitoring capabilities may be impacted.
As the volume of data and the number of security cameras rise, scalability becomes increasingly important. To support future development without causing any disruptions, storage systems must be easily expandable.
Recent Developments in the Global Video Surveillance Storage Market: A Snapshot
• In March 2022, Intel acquired Granulate Cloud Solutions, a platform for optimization powered by AI. With the acquisition, Intel was better prepared to compete with Nvidia, which had been acquiring firms of a similar nature to complete the management of its high-performance computing platforms.
• In March 2022, Microsoft acquired Nuance Communication, a speech recognition company. The purpose of this acquisition was to increase clinician productivity and financial success by integrating Microsoft's secure and dependable industrial cloud capabilities with Nuance's best-in-class conversational AI and ambient intelligence.
Frequently Asked Questions (FAQ) :
North America dominated the market for video surveillance storage market and accounted for the largest revenue share.
The major contenders in the global video surveillance storage market Cisco Systems, Inc., Symantec Corporation, Carbon Black Inc., Crowdstrike Inc., Microsoft Corporation, Palo Alto Networks, Inc., Intel Corporation, McAfee, LLC, RSA Security LLC, and Trend Micro Incorporated
The Global video surveillance storage Market is Segmented on the basis of Storage Technologies,Application,Regions.