Video surveillance storage is the process of storing real-time video data generated by surveillance cameras on storage devices. The data can then be recovered at a later stage for investigation of any event or actions as an evidence for a situation in either file or block format. Video surveillance systems are used for campus safety, hospital and patient safety, stadium safety, airport safety, and police safety among others. Furthermore, video surveillance cameras are used to capture significant amounts of information requiring scaling of network bandwidth and storage capacity.
An increase in investments in safety and security against terrorist attacks, rise in the trend of smart city projects worldwide, increase in the focus of Artificial Intelligence on video surveillance systems, and a growing trend of IoT solutions are anticipated to boost the global video surveillance storage market. Moreover, a rise in the need for highly efficient and time-saving surveillance systems at reasonable costs is a key factor driving the global video surveillance storage market. In addition, increase in demand for real-time data in the law enforcement sector for evidence of events and individuals is expected to boost the global video surveillance storage market over the forecast period. The adoption of cloud-based services for databases is expected to offer growth opportunities to the video surveillance storage market.
However, lack of standardization and high initial cost are projected to restrain the global video surveillance storage market. Furthermore, an expansion in database and rise in issues related to network security are expected to hinder the global video surveillance storage market. However, an increase in focus on the innovation of video surveillance systems by many well-established and emerging players from the video surveillance storage market is expected to overcome this restraint in the near future.
The global video surveillance storage market can be segmented based on deployment, component, industry vertical, storage architecture, storage type, and region. Based on deployment, the global video surveillance storage market can be classified into cloud and on-premises. In terms of industry vertical, the global video surveillance storage market can be segmented into education, BFSI, retail and consumer goods, IT and telecommunication, government, media and entertainment, enterprise & data centers, and travel and hospitality, among others. Based on component, the video surveillance storage market can be segmented into hardware and software. The hardware component includes cameras, drones, and routers which is used for video surveillance. The software component includes the use of IoT and Artificial Intelligence in video surveillance systems. Furthermore, based on storage architecture, the video surveillance storage market can be segmented into direct attached storage (DAS), storage area network (SAN), and network attached storage (NAS). Based on storage types, the video surveillance storage market can be bifurcated into hard disk drive and solid state drive.
In terms of region, the global video surveillance storage market can be classified into North America, Europe, South America, Middle East & Africa, and Asia Pacific. The video surveillance storage market in North America and Europe is expected to account for a prominent market share followed by Asia Pacific. This is mainly due to an increase in the need for safety and security against terrorist attacks and presence of well-established and emerging players providing video surveillance storage solution and services. The market in Asia Pacific is expected to expand at a rapid rate during the forecast period, owing to advancements in storage technologies, increase in the installation of CCTVs across different industry verticals, and rise in the trend of smart city projects. =There is significant adoption of video surveillance storage from countries such as China, Japan, and India due to the development of smart cities.
Key players operating in the global video surveillance storage market are Dell EMC Corporation, Western Digital Corporation, Hewlett-Packard Company, Quantum Corporation, Avigilon Corporation, Cisco Systems, Inc., Huawei Technologies Co., Ltd., Motorola, Inc., Honeywell International Inc., Robert Bosch GmbH, Seagate Technology PLC, NetApp, Inc., and Schneider Electric SE..
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