According to the latest market study released by Technavio, the global network video recorders (NVR) server marketis expected to grow at a CAGR of close to 15% during the forecast period.
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Technavio has published a new report on the global NVR server market from 2017-2021. (Graphic: Business Wire)
This research report titled 'Global NVR Server Market 2017-2021' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global NVR server market into the following type of end-user segments:
- Government
- Industrial
- Residential
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Government
To safeguard the security of people in public places and to maintain border security, the government and institutional users are increasingly adopting video surveillance solutions. The surveillance of highways, streets, bridges, stadiums, parks, educational buildings, religious buildings, government buildings, embassies, airports, railway stations, and bus stops is done using video surveillance solutions. These solutions are necessary for the government to increase the security of people.
According to Chetan Mohan, a lead analyst at Technavio for data center research, "One of the major drivers for the NVR server market is the installation of video surveillance systems in strategic locations such as airports, railway stations, and bus stops. This assists the government to curb terrorism. Internet infrastructure will improve due to the adoption of smart city concepts, which will have a major impact on the implementation of NVR servers. A city whose infrastructure has been equipped with various information and communication technologies is called a smart city. The development of smart citieshas become the focus of several countries."
Industrial
The adoption of NVR servers is assisted by the installation of video surveillance systems by industrial users at locations under their control. For the prevention of any unwanted incidents, these systems are installed in locations such as offices and lodgings. In retail stores, to prevent theft and monitor the activities of people, video surveillance systems are used.
"Video surveillance systems are also used to enhance the security in hospitals. In operation theaters, IP cameras and NVR servers are used to capture the whole procedure. These videos are used for the performance evaluation of a doctor or for a peer review by clinic heads. Additionally, to monitor operations in warehouses and industrial buildings, video surveillance systems are used," says Chetan
Residential
The growing need to prevent unauthorized access has paved the way for adoption of video surveillance solutions by residential users. Several residents are installing video surveillance systems because of the increasing number of crimes. The cost of NVR servers is high for residential users and there is limited space for installation in residences. These factors have led residential users to contribute only a small chunk of the total market share. Due to the high prices of the systems and a lack of awareness among consumers, the adoption of security solutions in residences is currently low. During the forecast period, there will be an increase in the adoption of video surveillance systems as the necessity for secure, comfortable, and convenient lifestyles is increasing.
The top vendors highlighted by Technavio's market research analysts in this report are:
- Axis Communications
- Bosch security systems
- Hangzhou Hikvision Digital Technology
- Honeywell Security
- Tyco
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