At present, the video surveillance industry is witnessing a massive growth due to increase in the use of surveillance cameras for security and protection. According to a study by Seagate Technology LLC, approximately 566 petabytes of data is being generated in one day from new video surveillance cameras installed worldwide in 2016. This daily data volume is estimated to reach 3500 petabytes, by 2023. This rapid increase in volume is also raising the tremendous capacity and performance demands of computing, storage, and networking resources. This rising data demands existing storage infrastructures to their limits.
The growing safety concerns among public and enterprises, and the rise of internet of things are primarily driving the market. The new technological developments in the field of storage and low cost of hard disk drives are fuelling the market growth. However, low awareness regarding video surveillance and latest storage technologies are hampering the market growth. The adoption of cloud-based services among enterprises will provide an opportunity to boost the video surveillance storage market. The major challenge for the video surveillance storage market is the retention period over a limited amount of storage.
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Major key Players
- Cisco Systems (U.S.),
- Dell (U.S.),
- Hitachi Ltd. (Japan),
- Seagate Technology LLC (U.S.),
- NetApp (U.S.),
- Robert Bosch GmbH (Germany),
- Honeywell International Inc. (U.S.),
- Avigilon Corporation (Canada),
- Schneider Electric SE (France).
They are innovating and are investing in research and development activities to generate a cost-effective product portfolio.
Pelco, Inc.(U.S.), Quantum Corporation (U.S.), Buffalo Technology (Japan), Iveda Solutions Inc. (U.S.), Promise Technology Inc. (U.S.), Mindtree Limited (India), and Arxys Software Orchestrated Storage (U.S.), are some of the key innovators in the market. Western Digital Corporation (U.S.), Pacific Controls (UAE), Johnson Controls (U.S.), Rasilient Systems Inc. (U.S.), Nexsan Corporation (U.S.), Eyecast Inc. (U.S.), Veracity Inc. (U.K), Fujitsu (Japan) are among others.
According to MRFR, The Global Video Surveillance Storage Market is estimated to grow up to USD 38 billion at CAGR 25% through the forecast period.
Oct 2018 Western Digital Corporation has recently launched a new range of AI-enabled surveillance solutions in line with the growing video surveillance market in the region, which in turn has created a mounting need for smarter storage solutions to keep up with it.
The changes observed in terms of strategy execution and creation are altering the growth pace of the market. The plan design process in the market has become significantly easier in which deviations are well accounted for, this method increases the overall success of these plans in the market. The evolution patterns are revised in tandem to the customer likings to realize greatest growth, and in the long run, sustainability. The basis for growth plans also has stimulated the market for potential new entrants. The market contenders are making considerable adjustments to minimize the incidence of competitive disadvantage. The leadership trends in the market are reinforcing the level of growth that can be achieved in present market scenario. The market is also well equipped to meet the challenges and keep up with the dynamic growth trends effectively.
The global video surveillance storage market is segmented on the basis of storage technology, type of storage, deployment, services, organization size, vertical and region. On the basis of storage technology the market is further classified into Network Attached Storage (NAS), Storage Area Network (SAN), and Direct Attached Storage (DAS). On the basis of storage type the market is further classified into Hard Disk Drives (HDDs), Solid State Drives (SDDs). On the basis of deployment, the market is further classified into on-cloud and on-premise. On the basis of services, the market is further classified into professional and managed services. On the basis of organization size, the market is further classified into SME and large enterprises. The video surveillance storage covers wide area of verticals such as BFSI, education, retail, transportation, healthcare, government and others.
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The regional analysis of the video surveillance storage market covers regions such as Europe, North America, Asia Pacific and rest of the world. The North American region is anticipated to control a key market share in the forecast period. The growing use of surveillance data and requirement for cloud-based storage solutions are guiding the market in this region. The incidence of important companies in the region and growth of advanced storage solutions are powering the market development. The Asia Pacific region is likely to show increased development throughout the forecast period. The implementation of video surveillance through many enterprises and the requirement for storage facilities is motivating the market in this region. The availability of video analytics such as motion detection, object detection and various tools are also boosting the market’s growth.
- Technology investors
- Research Firms
- Technology integrators
- Storage Providers
- Cloud providers
- Governmenet agencies
LIST OF FIGURES
FIGURE 1 Global Video Surveillance Storage Market segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis of Global Video Surveillance Storage Market
FIGURE 4 Value Chain of Global Video Surveillance Storage Market
FIGURE 5 Share of Global Video Surveillance Storage Market in 2017, by country (in %)
FIGURE 6 Global Video Surveillance Storage Market, 2017-2023,
FIGURE 7 Sub segments of Storage Type
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LIST OF TABLES
Table 1 Global Video Surveillance Storage Market: By Region, 2017-2023
Table 2 North America Video Surveillance Storage Market: By Country, 2017-2023
Table 3 Europe Video Surveillance Storage Market: By Country, 2017-2023
Table 4 Asia Pacific Video Surveillance Storage Market: By Country, 2017-2023
Table 5 The Middle East & Africa Video Surveillance Storage Market: By Country, 2017-2023
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