BANGALORE, India | 12th December 2020: The Video Surveillance Storage Market is Segmented by Type (Hardware, Software & Services), Application (Government and Defense, Education, BFSI, Retail, Transportation and Logistics, Utilities, Healthcare, Home Security), Key Vendors and Regional Growth: Global Opportunity Analysis and Industry Forecast, 2021–2026. This report is published on Valuates Reports in the Security Products & Services Category.
The global Video Surveillance Storage market size is projected to reach USD 33650 Million by 2026, from USD 12210 Million in 2020, at a CAGR of 18.4% during 2021-2026.
Video monitoring storage services accounted for the highest percentage in the utility sector, reaching 16.9 percent in 2019.
Major factors driving Video Surveillance Storage Market size are the adoption of IP cameras, demand for video surveillance, and its storage to secure public places.
The report lists the major players in the regions and their respective market share based on global revenue. It also explains their strategic moves in the past few years, investments in product innovation, and leadership changes to stay ahead in the competition.
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TRENDS INFLUENCING THE VIDEO SURVEILLANCE STORAGE MARKET SIZE
Increasing investments in defense and security against terrorist threats, developments in smart city initiatives, increasing importance of Artificial Intelligence on video surveillance systems, and a growing trend in IoT solutions are expected to boost video surveillance storage market size.
The increase in the adoption of Video Surveillance Storage solutions among large enterprises is expected to drive the Video Surveillance Storage Market size. Due to widespread geographical presence and customer base, the large enterprise needs 24*7 surveillance systems with the aid of high-resolution cameras. These cameras require an enormous storage space to store surveillance footage for review and investigation to minimize downtime.
Growing demand for real-time data in the law enforcement field for evidence of events and individuals is expected to further drive the video surveillance storage market size.
Also, the adoption of cloud-based database services is expected to create lucrative opportunities for video surveillance storage market size growth.
On the other hand, the lack of standardization and high initial costs are expected to limit the growth of the video surveillance storage market size.
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VIDEO SURVEILLANCE STORAGE MARKET SHARE ANALYSIS
North America is expected to hold the largest video surveillance storage market share during the forecast period. This dominance of North America is attributed to the presence of key players in the region, increasing surveillance data, and the need for cloud-based storage solutions.
The Asia Pacific is expected to witness the highest growth during the forecast period. The adoption of video surveillance across different companies and the need for storage facilities are driving the video surveillance storage market share in the Asia Pacific region. Video analytics, such as motion detection, object detection, and other technologies, stimulate market development.
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VIDEO SURVEILLANCE STORAGE SCOPE AND MARKET SEGMENTATION
Video Surveillance Storage Scope and Market Segment by Type
- Software & Services
Video Surveillance Storage Scope and Market Segment by Application
- Government and Defense
- Transportation and Logistics
- Home Security
Video Surveillance Storage Scope and Market Segment by Regions
- North America
- Southeast Asia
- Central & South America
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