New York, Nov. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Video Surveillance Storage Market Size, Share & Industry Trends Analysis Report By Storage Media, By Component, By Vertical, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06364813/?utm_source=GNW
Campus safety, stadium safety, hospital and patient safety, airline safety, and police safety all use video surveillance systems. Additionally, video security cameras are utilized to record a lot of data, necessitating increased network bandwidth and storage space.
Also, factors include the increase in demand for highly effective and AI-based surveillance systems that fuel the market’s expansion. The expansion of AI edge computing, analytics for security, and the emergence of the "as a service" business model all contribute to the expansion of the video surveillance storage market. The use of cutting-edge technologies like cloud computing and IoT has also increased as well as the growing focus on the responsible & ethical use of technology.
Millions of dollars are being spent by several businesses all over the world to install video surveillance systems in their workplaces. In order to raise the general degree of security at these enterprises, the majority of governments also instructed corporations in many industries to deploy video surveillance cameras. The market for video surveillance storage is expanding as a result of an increase in the installation of video surveillance systems due to rising security concerns. Also, various vendors are offering storage technologies that are more advanced & efficient and the affordability of hard disc drives.
COVID-19 Impact Analysis
Due to lockdowns imposed by various governments all over the world, the outbreak of the COVID-19 pandemic has positively affected the deployment of video surveillance storage systems. Additionally, in response to the COVID-19 situation, businesses are concentrating on cutting-edge technologies like artificial intelligence (AI), cloud computing, data analytics, Internet of Things (IoT), and edge-based solutions that use fewer resources and reduce processing time in sectors like healthcare, BFSI, and government to perform contactless operations which further resulted in the widespread use of video surveillance storage.
Market Growth Factor
Increased Need for Ai Vision-Based Video Surveillance Systems
Network video surveillance systems are evolving from being straightforward monitoring tools to becoming all-encompassing solutions that may be used in any industry. The integration of AI technology into systems at every level is anticipated to experience unprecedented growth. Additionally, the information produced by AI vision systems that use AI cameras as vision sensors produces useful business insight to aid firms in better comprehending their clients and their business processes.
The Growing Use of Emerging Technologies Like IoT And Cloud Computing
Even though network technology and the Internet of Things (IoT) are now widely used, they will continue to upend the security camera industry by enabling new developments in HD video streaming, even on mobile devices. In an increasingly connected world, these technologies are expected to increase the potential applications for AI and audio and video analytics. IoT, networks, cloud computing, intelligent data, and artificial intelligence are the essential technologies advancing the widespread digital transformation on a larger scale.
Market Restraining Factor
Privacy Concerns with Video Surveillance
Security cameras can keep an eye out for potential threats, wrongdoing, or hostile conduct, but they will also unavoidably capture all they see. In wealthy nations, video surveillance is becoming more widely used. The use of such technologies is necessary due to ongoing security risks to public safety. Modern video surveillance systems include cutting-edge functions that could the privacy of individuals being filmed. The use of video monitoring must be weighed against its detrimental effects on privacy.
Storage Media Outlook
On the basis of storage media, the video surveillance storage market is divided into hard disk drive and solid disk drive. The solid disk drive segment covered a substantial revenue share in the video surveillance storage market in 2021. A more recent development in technology, solid-state drives (SSDs) meant to take the place of HDDs. Despite their name, these storage devices have no motors because they have no movement parts at all (or drives). SSDs store data on specialized memory chips that are connected to one another.
Component Outlook
Based on component, the video surveillance storage market is segmented into hardware, software and service. In 2021, the hardware segment dominated the video surveillance storage market with the largest revenue share. Devices that use hardware typically have components including a lens, camera, wiring, housing, mounts, and monitors. These parts are available separately or collectively as a comprehensive security system that comes with everything users need.
Organization Size Outlook
Based on enterprise size, the video surveillance storage market is fragmented into large enterprise and SMEs. The SMEs segment garnered a significant revenue share in the video surveillance storage market in 2021. This is the result of an increase in SMEs’ use of video surveillance storage solutions globally. One of the many settings where video surveillance systems are utilized extensively is in small enterprises.
Vertical Outlook
By industry vertical, the video surveillance storage market is classified into education, BFSI, manufacturing, media & entertainment, retail, healthcare & pharmaceutical, transportations & logistics, government & defense and others. In 2021, the government & defense segment witnessed the largest revenue share in the video surveillance storage market. The need for video surveillance storage systems is rising as the crime rate is growing all over the world. The deployment of video surveillance has been increased by government in the public places such as streets, public parks and other such areas.
Regional Outlook
Region wise, the video surveillance storage market is analyzed across the North America, Europe, Asia Pacific and LAMEA. The North America segment led the video surveillance storage market by generating maximum revenue share in 2021. The expansion in the region is attributable to an increase in demand for security and defense against potential threats as well as the appearance of both established and new businesses that provide facilities and services for video monitoring.
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation is the forerunner in the Video Surveillance Storage Market. Companies such as Intel Corporation, Cisco Systems, Inc., Crowdstrike Holdings, Inc. are some of the key innovators in Video Surveillance Storage Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., Microsoft Corporation, Intel Corporation, McAfee Corp., Palo Alto Networks, Inc., RSA Security LLC (Symphony Technology Group), Broadcom, Inc. (Symantec Corporation), Crowdstrike Holdings, Inc., Trend Micro, Inc. and NetApp, Inc.
Strategies Deployed in Video Surveillance Storage Market
May-2022: NetApp acquired Instaclustr, a leading platform provider of fully managed open-source database pipelines and workflow applications delivered as a service. The acquisition would build on a series of strategic acquisitions made by NetApp to deliver a comprehensive suite of offerings for Cloud Operations (CloudOps).
Mar-2022: Intel completed the acquisition of Granulate Cloud Solutions, an AI-powered optimization software. The acquisition would strengthen Intel’s competitive position against Nvidia, which also has been acquiring similar businesses to fill out the management of its high-performing computing systems.
Mar-2022: Microsoft acquired Nuance Communication, a speech recognition company. This acquisition would bring Nuance’s best-in-class brings conversational AI and ambient intelligence with Microsoft’s secure & trusted industry cloud offerings. Further, the acquisition aimed at improving clinician productivity & financial performance.
Dec-2021: NetApp introduced NetApp AFF A900, powered by NetApp ONTAP Enterprise Edition. The acquisition would leverage NetApp’s leading hybrid multi-cloud solutions to fulfill the demand of their business and scale their data & management to any public cloud simply as well as efficiently.
Nov-2021: CrowdStrike Holdings, Inc. today announced it has completed its acquisition of SecureCircle, a SaaS-based cybersecurity service that extends Zero Trust security to data on, from, and to the endpoint. With SecureCircle’s technology, CrowdStrike plans to modernize data protection and enable customers to secure data on, from, and to the endpoint. Integrating SecureCircle’s technology will allow us to address a complex problem that we consistently hear about from our customers, data protection, and deliver a revolutionary yet simple solution by enforcing frictionless Zero Trust control at multiple levels, all delivered through CrowdStrike’s lightweight Falcon agent on the endpoint.
Oct-2021: Cisco acquired Epsagon, a privately held, modern observability company. This acquisition would complement Cisco’s work on full-stack observability for cloud-native environments, over various telemetry types that include events, metrics, logs, and traces with support for open standards. Further, this acquisition would accelerate Cisco’s roadmap of capabilities for Full-Stack Observability.
Mar-2021: Cisco took over Acacia Communications, Inc., a Massachusetts-based company and existing Cisco supplier. The acquisition would reinforce CIsco’s commitment to optics as one of those critical building blocks that would improve Cisco’s ’Internet for the Future’ strategy with world-class coherent optical solutions for Cisco’s consumers.
Feb-2021: CrowdStrike Holdings took over Humio, a leading provider of high-performance cloud log management and observability technology. The acquisition would enable CrowdStrike would further expand its extended Detection and Response (XDR) abilities by ingesting and correlating data from any log, application, or feed to deliver actionable insights and real-time protection.
Oct-2020: Microsoft expanded Azure Media Services by adding a live video analytics platform. This expansion would enable users to build workflows that capture & process video with real-time analytics through the intelligent edge to intelligent cloud.
Jun-2020: Microsoft signed an agreement to acquire ADRM Software, a leading provider of large-scale industry data models. Under this acquisition, the comprehensive industry models from ADRM would be combined with limitless storage & compute from Azure that enables the creation of the intelligent data lake where data from different lines of business could be harmonized together more quickly. Additionally, Microsoft Azure’s capability would be delivered at scale allowing its consumers to enhance digital processes as well as minimize risk in several major initiatives.
Scope of the Study
Market Segments covered in the Report:
By Storage Media
• Hard Disk Drive (HDD)
• Solid State Drive (SSD)
By Component
• Hardware
o Storage Area Network (SAN)
o Network Attached Storage (NAS)
o Direct Attached Storage (DAS)
o Video Recorders
• Software
o Video Management Software
o Video Analytics
• Services
By Organization Size
• Large Enterprises
• Small & Medium Enterprises (SMEs)
By Vertical
• Government & Defense
• Retail
• Education
• BFSI
• Healthcare & Life Sciences
• Manufacturing
• Media & Entertainment
• Travel & Hospitality
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Cisco Systems, Inc.
• Microsoft Corporation
• Intel Corporation
• McAfee Corp.
• Palo Alto Networks, Inc.
• RSA Security LLC (Symphony Technology Group)
• Broadcom, Inc. (Symantec Corporation)
• Crowdstrike Holdings, Inc.
• Trend Micro, Inc.
• NetApp, Inc.
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Read the full report: https://www.reportlinker.com/p06364813/?utm_source=GNW
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