Wilmington, Delaware, Aug. 18, 2023 (GLOBE NEWSWIRE) -- Global Video Surveillance Storage Market is valued at US$ 1.8 billion in 2023 and is expected to grow at a significant CAGR of over 6.1% over the forecast period of 2019-2028, market report by RationalStat
Market Scope and Report Overview
High-resolution cameras that can record more detailed videos have been made available as a result of advancements in camera technology. Furthermore, when video analytics systems developed, they produced additional data that needed to be stored and examined. The need for storage increased as a result of this development. Regarding the preservation of video surveillance data, several sectors have tight rules and compliance standards. To abide by these rules, organizations must store video content in a safe and easily accessible location.
According to a deep-dive market assessment by RationalStat, the global video surveillance storage market has been analyzed on the basis of market segments, including type, enterprise size, deployment, industry vertical, storage media, application and geography/regions (incl. North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2028.
Market intelligence for the global video surveillance storage market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
In addition, the long-term sector and products/services 10-year outlook and its implications on the global video surveillance storage market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Video Surveillance Storage Market: Segmental and Market Share Analysis
On the basis of type, in service segment managed services segment is anticipated to hold the maximum market share, of 23.2%, in the market for video surveillance storage by 2029. Customer services are becoming more collaborative as a result of the expansion of telecommunications services.
On the basis of deployment, the cloud segment held the greatest market share for video surveillance storage in 2022 and is anticipated to expand at the highest CAGR of 18.1% over the next five years. The majority of businesses use cloud computing to expand capacity, enhances functionality, or adds new services on demand without needing to make potentially costly infrastructure expenditures or begin hiring current in-house support workers.
On the basis of industry vertical, healthcare and pharmaceutical segment is expected to dominate the global video surveillance storage market during the forecast period. Because there are many different types of dangers in the healthcare industry, including drug-related crimes and patient outbursts. Security managers have been obliged to change safety protocols and up the amount of video surveillance due to this, along with the continued risk of newborn abduction incidents.
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Period Covered include data for 2019-2028 along with year-wise demand estimations
The video surveillance storage market report analyzes the market on the basis of global economic situations, regional geopolitics, import-export scenarios, trade duties, market developments, organic and inorganic strategies, mergers and acquisitions, product launches, government policies, new capacity addition, technological advancements, R&D investments, and new market entry, replacement rates, penetration rates, installed base/fleet size, global and regional production capacity, among others.
RationalStat offers market analysis and consulting studies on the basis of dedicated and robust desk/secondary research supported by a strong in-house data repository. In addition, the research leverages data based on the real-time insights gathered from primary interviews. Market estimations and insights are based on primary research (covering more than 240 entities) and secondary research by leveraging international benchmarking.
The global video surveillance storage market report also covers value chain and supply chain analysis that provides in-depth information about the value chain margins and the role of various stakeholders across the value chain. Market dynamics provided in the market study include market drivers, restraints/challenges, trends, and their impact on the market throughout the analysis period.
In the competition analysis section, the global video surveillance storage market provides a detailed competition benchmarking analysis based on the market share of the leading companies/ brands/producers/suppliers, a market structure overview with detailed company profiles of more than 25 players with their financials, product/service offerings, major developments, business models, etc. This enables, clients and report buyers to make strong, precise, and timely decisions.
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Macroeconomic Scenario and the Impact of COVID-19 on Regional Economic Sentiment
In the latest RationalStat analysis, geopolitical conflicts and inflation are the cited economic risks, while concerns about the volatility across energy sectors prevail in Europe and other parts of the world. Some of the potential risks to the economic growth in the leading regions, including Asia Pacific, Europe, North America, the Middle East & Africa, and other developing regions, are inflation, volatile energy prices, supply chain disruptions, geopolitical instability, labor shortages, rising interest rates, and COVID-19 pandemic.
The global economy experienced heavy headwinds, throughout 2019-2021, as some countries witnessed subdued growth, while other countries continued to grapple with economic slowdowns. The COVID-19 pandemic has levied undue pressure across the majority of industries globally and has caused a major economic crisis in the US, India, Italy, the UK, Germany, India, Japan, South Korea, the UK, and many others. Besides, the exit of the UK from the European Union earlier in 2020 and the Russo-Ukraine war in 2022 exacerbated the ever-heightened global uncertainty.
In addition to this, the global economic growth slowed in 2022 to 3.3%, weaker than expected at the end of 2021, mainly weighed down by Russia’s war in Ukraine and the associated cost-of-living crisis in many countries. However, improvement in economic activities during the forecast period is expected. Growth is projected to remain at lower rates in 2023 and 2024, at 2.6% and 2.9% respectively.
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the global video surveillance storage market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global video surveillance storage market include,
- In 2019, Seagate Technology LLC launched 14TB Seagate SkyHawk hard disk. The recently released hard drive helps business leaders to quickly and effectively manage, consume, and use the digital data gathered by devices.
- In 2019, NetApp, a provider of data management and storage, unveiled NetApp ONTAP 9.6. To help businesses maximize the value of their data with unprecedented performance, the new storage solution was introduced. It consists of a new mid-range end-to-end storage system and a broader line of services.
Some of the prominent players that contribute significantly to the global video surveillance storage market growth include Cisco Systems, Inc, Dell Technologies Inc, Huawei Technologies Co., Ltd, Rasilient Systems Inc., Hitachi Vantara LLC, Seagate Technology LLC, Schneider Electric SE, Promise Technology, AXIS Communications, Wester Digital, among others.
RationalStat has segmented the global video surveillance storage market based on type, enterprise size, deployment, industry vertical, storage media, application and region
- Global Video Surveillance Storage Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Type
- Hardware
- Storage Area Network (SAN)
- Direct Attached Storage (DAS)
- Network Attached Storage (NAS)
- Software
- Video Management Software
- Video Analytics
- Service
- Professional Services
- Managed Services
- Hardware
- Global Video Surveillance Storage Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Enterprise Size
- Large Enterprises
- Small and Medium Enterprises (SME)
- Global Video Surveillance Storage Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Deployment
- Cloud
- On-premises
- Global Video Surveillance Storage Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Industry Vertical
- Education
- BFSI
- Manufacturing
- Media and Entertainment
- Retail
- Healthcare and Pharmaceutical
- Transportation and Logistics
- Government and Defense
- Others
- Global Video Surveillance Storage Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Storage Media
- Solid State Drives
- Hard Disk Drives
- Global Video Surveillance Storage Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Application
- Commercial
- City Surveillance
- Defense/Military
- Others
- Global Video Surveillance Storage Market Value (US$ Million), Volume (Units), and Market Share (2019-2028) Analysis by Region
- North America Video Surveillance Storage Market
- US
- Canada
- Latin America Video Surveillance Storage Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Video Surveillance Storage Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Video Surveillance Storage Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Video Surveillance Storage Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Video Surveillance Storage Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Video Surveillance Storage Market
- Leading Companies and Market Players
- Cisco Systems, Inc
- Dell Technologies Inc
- Huawei Technologies Co., Ltd
- Rasilient Systems Inc.
- Hitachi Vantara LLC
- Seagate Technology LLC
- Schneider Electric SE
- Promise Technology
- AXIS Communications
- Wester Digital
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Key Questions Answered in the Video Surveillance Storage Report:
- What will be the market value of the global video surveillance storage market by 2028?
- What is the market size of the global video surveillance storage market?
- What are the market drivers of the global video surveillance storage market?
- What are the key trends in the global video surveillance storage market?
- Which is the leading region in the global video surveillance storage market?
- What are the major companies operating in the global video surveillance storage market?
- What are the market shares by key segments in the global video surveillance storage market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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