The Video Surveillance Storage Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Video Surveillance Storage Global Market Report 2024, The video surveillance storage market size has grown exponentially in recent years. It will grow from $22.91 billion in 2023 to $27.76 billion in 2024 at a compound annual growth rate (CAGR) of 21.2%. The growth in the historic period can be attributed to surge in surveillance deployments, transition to ip-based systems, rise in high-definition cameras, data retention requirements, security concerns and incident management.
The video surveillance storage market size is expected to see exponential growth in the next few years. It will grow to $58.69 billion in 2028 at a compound annual growth rate (CAGR) of 20.6%. The growth in the forecast period can be attributed to market entry of new players, market competitiveness, advancements in data management, cost-effective and scalable solutions, vertical-specific demands.. Major trends in the forecast period include adoption of edge storage, cost-efficiency and roi focus, hybrid storage approaches, cloud-based storage solutions, integration of video analytics.
Possible terrorist attacks are expected to propel the growth of the video surveillance storage market going forward. Terrorist attacks refer to intentional acts of violence, typically perpetrated by non-state actors or groups, with the aim of creating fear, panic, or political, ideological, or religious intimidation. Video surveillance storage plays a crucial role in counterterrorism efforts by providing essential data for the investigation and analysis of security incidents, including terrorist attacks. For instance, in 2023, according to the Global Terrorism Index by the Institute for Economics & Peace, an Australia-based Think tank, terrorist attacks became more deadly in 2022, killing on average 1.7 people per attack in 2022 compared to 1.3 deaths per attack in 2021. Therefore, the increasing number of terrorist attacks is driving the video surveillance storage market.
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The video surveillance storage market covered in this report is segmented –
1) By Products: Storage Area Network (SAN) , Network Attached Storage (NAS) , Direct Attached Storage (DAS) , Video Recorders
2) By Storage Media: Hard Disk Drive (HDD) , Solid State Drive (SSD)
3) By Deployment Modes: Cloud, On-premises
4) By Vertical: Banking, Financial Services and Insurance (BFSI) , Education
Technological advancements are a key trend gaining popularity in the video surveillance storage market. Major companies are focusing on cloud-based video surveillance storage for efficient and massive storage. With cloud-based video surveillance storage, the captured video is moved to the cloud and has infinite storage space. For instance, in September 2021, Ava Security, a US-based company specializing in unified physical and cyber security, launched Ava Cloud Storage. Ava Cloud Storage allows users to intelligently back up their video content in the cloud, ensuring a trustworthy, economical, and convenient archive for as long as possible. With this, the customer no longer needs to acquire the entire film 24/7 and may be more strategic about video storage. This strategic storage is achieved because Ava Cloud Storage uses machine learning-based Smart Recording to evaluate which activities or occurrences are relevant.
The video surveillance storage market report table of contents includes:
1. Executive Summary
2. Video Surveillance Storage Market Characteristics
3. Video Surveillance Storage Market Trends And Strategies
4. Video Surveillance Storage Market – Macro Economic Scenario
5. Global Video Surveillance Storage Market Size and Growth
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26. South America Video Surveillance Storage Market
27. Brazil Video Surveillance Storage Market
28. Middle East Video Surveillance Storage Market
29. Africa Video Surveillance Storage Market
30. Video Surveillance Storage Market Competitive Landscape And Company Profiles
Top Major Players:
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