DELRAY BEACH, Fla., Sept. 9, 2024 /PRNewswire/ -- The global Video Surveillance Storage Market will grow from USD 9.5 billion in 2024 to USD 12.6 billion by 2029 at a compounded annual growth rate (CAGR) of 5.7% during the forecast period, according to a new report by MarketsandMarkets. AI, cloud computing, and edge storage are continuously rising as the future of video surveillance storage. Hence, while the need for higher resolution, frame rates, and extended retention periods is rising, solutions are moving to more combinations of on-premises infrastructure and cloud. Due to AI analytics, the data that would have had to be retained in the past due to the need for computation can now be processed in real-time. Furthermore, there are enhancements in compression technologies and archiving options, and access storage uses hyper-converged structures, also known as HCI, for surveillance systems.
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339 - Tables
66 - Figures
340 - Pages
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Scope of the Report
Report Metrics | Details |
Market size available for years | 2019-2029 |
Base year considered | 2023 |
Forecast period | 2024-2029 |
Forecast units | Value (USD Million/Billion) |
Segments Covered | Offering, Deployment Mode, Storage Capacity, Storage Media, Surveillance System, Organization Size, and Vertical |
Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
Companies Covered | Some of the significant Video Surveillance Storage Market vendors are Western Digital Corporation (US), Seagate Technology (US), Hitachi (Japan), Dell Technologies (US), Honeywell (US), NetApp (US), Avigilon (Canada), Bosch (Germany), Hikvision (China), and Toshiba (Japan). |
The companies are more concerned with the environmental impact of video surveillance storage. Current players in the market, such as Seagate and Western Digital, have been developing methods of putting energy-efficient technologies in the products, reducing power consumption while boosting capacity. Some players, such as Cisco, are creating cloud-based solutions that lessen the reliance on physical storage, hence lessening carbon imprints. Additionally, using recycled materials in production and designing storage devices with longer valuable lives are now being integrated into organizations' operations, including using recycled materials in production and designing storage devices with longer functional life.
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The software segment is expected to capture the highest CAGR during the forecast period by offering a segment.
The offering segment of the Video Surveillance Storage Market is hardware, software, and services. The software segment accounted for the highest CAGR during the forecasted period. Video software is essential in the Video Surveillance Storage Market because it allows video footage to be stored, retrieved, and analyzed. Surveillance software is made to work with storage systems where video recording and playback and more complex analysis are offered. It assists in categorizing and storing the video data, allowing easy footage storage when required. For instance, Milestone Systems has developed an XProtect video management software that provides users with an efficient management tool for the storage software and other storage platforms. XProtect has intelligence features for storing large volumes of data, real-time monitoring, and advanced search capability, which then can facilitate the use of large amounts of surveillance data. This solution improves storage systems' ability by incorporating functions including motion detection, alerting, and data analytics, which are crucial for security operations and incident handling.
Based on the storage capacity, the 1 TB storage capacity segment is expected to hold the largest market share during the forecast period.
By storage capacity, the Video Surveillance Storage Market is segmented into 1 TB, 2 TB, 4 TB, and above 4 TB. During the forecast period, the 1 TB storage capacity segment is expected to hold the largest market size in the Video Surveillance Storage Market. Due to the fewer cameras, less storage is required: for example, up to 32 cameras may be observed in small shops or offices, and 1Tb of storage is enough for such systems. This capacity is usually designed to record HD video for a limited time: the more cameras are installed, the higher the resolution, the more storage space is required. HDD 1TB storage can store approximately 1-2 weeks of continuous recording from a few HD cameras; thus, it is suitable for low-intensity use. This is ideal for small businesses to observe certain critical areas without requiring a lot of recording capabilities.
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North America is projected to hold the second-largest market share during the forecast period.
By region, North America will hold the second largest market share in the worldwide Video Surveillance Storage Market in 2024 after the Asia Pacific region, and this pattern is anticipated to be valid throughout the forecast period. Video surveillance storage solutions and services in North America are vital to ensuring that large amounts of data produced from all kinds of surveillance in law enforcement, retail, transport, and health sectors are processed efficiently and securely. They provide on-premises to cloud-based scalable storage options for any organization looking to store and retrieve high-resolution video footage at will. Key features include data encryption, redundancy, and disaster recovery to safeguard the integrity and availability of vital surveillance data needed for investigation, regulatory compliance, and holistic security management. Video surveillance storage demand is increasing and is driven by the accelerating adoption of IP cameras, video analytics innovation, and a rising need for real-time monitoring and analysis of historical data in North America.
Top Key Companies in Video Surveillance Storage Market:
Some of the significant video surveillance storage vendors include Western Digital Corporation (US), Seagate Technology (US), Hitachi (Japan), Dell Technologies (US), Honeywell (US), NetApp (US), Avigilon (Canada), Bosch (Germany), Hikvision (China), and Toshiba (Japan).
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