Video Surveillance Storage Market by Product (SAN, NAS, DAS, and video recorders), Storage Media (HDD and SSD), Enterprise Size, Application (Commercial, City Surveillance, and Industrial), Deployment Mode, Vertical, and Region – Global Forecast to 2025

2020-06-24
Price :
Published : Jun-2020
No. of Pages : 344

The global Video Surveillance Storage (VSS) market size to grow at a Compound Annual Growth Rate (CAGR) of 6.1% during the forecast period.

MarketsandMarkets forecasts the global VSS market size to grow from USD 7.5 billion in 2020 to USD 10.2 billion by 2025, at a CAGR of 6.1% during 2020–2025. Major growth factors for the market include the adoption of IP cameras and demand for video surveillance and its storage to secure public places. On the other hand, the low awareness of the availability of storage technologies and systems may restrain the market growth of the VSS market.

Source: Secondary Literature, Expert Interviews, and MarketsandMarkets Analysis

Impact of COVID-19 on current market size

Due to the COVID-19 pandemic, the demand for video surveillance storage market is hit. The pandemic has caused disruption in retail stores, closure of hardware manufacturing plants, and resulted in sudden halt of economic activities. Many companies have implemented work from home, which further decreased the demand for VSS solutions.Taking into consideration the above given factors, the market for VSS solution is estimated.

Driver: Increasing physical threats around the world

Physical threats have raised the need for pre-emptive approaches for the safety of public, property, and other assets. For instance, in case of a terror attack, the suspects can be captured by various surveillance cameras installed across cities. Such instances create awareness of video surveillance as well as its storage.Simultaneously, it should have the capability of fast and simple access to video surveillance footage. With the increasing physical threats day by day across the world, the demand for VSS solutions is growing tremendously.

Restraints: Lower awareness of the availability of storage technologies and systems

There have been apprehensions about the availability of various storage solutions and technologies for storing video surveillance footage. End users from industries are not aware of the latest innovations in the surveillance technologies and storage solution and are still implementing the legacy systems. For instance, Digital Video Recorders (DVRs) come with non-scalable internal storage and availability of cloud storage. End users are also unaware of the innovative and low-cost VSS solutions available in the market.

Opportunities: Impact of disruptive technologies on video surveillance systems

There is an impact of disruptive technologies, such as 5G, cloud, hyper converged infrastructure, facial recognition, big data analytics, AI, and edge storage, on video surveillance systems, as well as video footage storage. As cloud, hyper converged infrastructure, and edge storage technologies impact video surveillance footage, hence affecting the growth of VSS market.

Challenges: Demand for higher bandwidth leading to higher associated costs

In the VSS market, there exists a challenge with the computing and data storage on the cloud. For cloud VSS, proper bandwidth is required as it transmits large video footage files over networks that demand higher bandwidths. This introduces complexity, having increased system pressure on the bandwidth that may also result in extended retention time.

The city surveillance segment is expected to hold the highest market share during the forecast period

The VSS market by application is segmented into commercial, defense/military, city surveillance, and industrial. The city surveillance segment is expected to hold the largest market size and highest growth rate during the forecast period.The city surveillance application helps in monitoring traffic, preventing criminal activities at public places, and monitoring suspicious activities at public places. The public places include airports, railway stations, seaports, theaters, playgrounds, and institutes. For monitoring cities, a large number of high-resolution cameras are installed. These high-resolution cameras demand scalable storage that supports the increasing demand for storing video surveillance footages.

The healthcare and pharmaceutical vertical to grow at the highest growth rate during the forecast period

By vertical, the VSS market is segmented into government and defense,education, BFSI,transportation and logistics,healthcare and pharmaceutical,manufacturing, energy and utilities,media and entertainment, retail, and others (IT and telecommunications, legal, and construction). Among these verticals, the healthcare and pharmaceutical vertical is expected to grow at the highest CAGR during the forecast period.Hospital administrators are relying more on video surveillance to protect from false claims against nurses, physicians, and staff. More cameras are being installed to increase viewing areas so that a complete picture of patient-staff interaction can be captured. This contributes to the growth of the VSS market.

Among regions, Asia Pacific to hold the highest market share during the forecast period

The VSS market by region covers North America, Europe, APAC, MEA, and Latin America. APAC is expected to grow at the highest CAGR during the forecast period,owing to the rapid deployment of VSS solutions for monitoring city traffic and investigating crime scenes, and storing the video surveillance footage either on-premises or in cloud.Major APAC countriessuch as China, Australia, India, and New Zealand are expected to record high growth rates in this market.The companies such as Net App, Dell, Cisco, and IBM are expanding their cloud-based storage business in the region due to the availability of IT infrastructure.

Source: Secondary Research, Expert Interviews, and MarketsandMarkets Analysis

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the VSS market.

  • By Company: Tier I: 15%, Tier II: 40%, and Tier III: 45%
  • By Designation: C-Level Executives: 40%, Directors: 35%, Managers: 15, and Others: 10%
  • By Region: North America: 45%, Europe: 15%, APAC: 30%, MEA: 5%, and Latin America: 10%

The major VSS vendors operating in the market include Cisco (US), Hitachi (Japan), Dell EMC (US), Honeywell (US), Avigilon (Canada),NetApp (US),Bosch (Germany), Seagate (US), Quantum (US), and Schneider Electric (France). The report provides these players’ company profiles, business overview, product offerings, recent developments, and market strategies.

Other companies with their product portfolio in VSS market also include Fujitsu (Japan), Wester Digital (US), BCDVideo (US), Cloudian (US), Spectra Logic (US), Micron Technology (US), Nexsan (US), RAIDIX (Switzerland), Infortrend (Taiwan), Rasilient System(US), Intransa (US), PIVOT3 (US), IDIS (South Korea), AXIS Communications (Sweden), VIVOTEK (Taiwan), huperLab (Taiwan), Milesight (US), Secure Logiq (UK), Promise Technology (US), D-Link (Taiwan), ADATA (Taiwan), Toshiba (Japan). Hikvision (China), Uniview (China), Qognify (US), Thomas Krenn (Germany), AMAX (US), Genetec (Canada), Pelco (US), and CP PLUS (Germany).

Research Coverage

The report segments the global VSS market by product, storage media, deployment mode, enterprise size, application, vertical,and region.The product segment includes Storage Area Network (SAN), Network Attached Storage (NAS), Direct Attached Storage (DAS), and video recorders. The VSS market has been segmented by deployment mode into on-premises and cloud. The VSS market by enterprise size has been segmented  into Small and Medium-sized Enterprises (SMEs) and large enterprises. By application, the VSS market has been segmented into commercial, defense/military, city surveillance, and industrial.The vertical segment includes government and defense, education, Banking, Financial Services, and Insurance (BFSI), transportation and logistics, healthcare and pharmaceuticals, manufacturing, energy and utilities, media and entertainment, retail, and others (IT and telecommunications, legal, and construction). The report covers the VSS market in five major regions: North America, Europe, APAC, Middle East and Africa (MEA), and Latin America.

The report would help the market leaders and new entrants in the global VSS market in the following ways:

  • The report segments the market into various sub segments; hence, it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its sub segments. The market numbers are split further across applications and regions.
  • It helps in understanding the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities.
  • It helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.

Frequently Asked Questions (FAQs):

  • What is the projected market value of the global Video Surveillance Storage market?
  • The global Video Surveillance Storage Market size to grow from USD 7,597 million in 2020 to USD 10,234 million by 2025, at a Compound Annual Growth Rate (CAGR) of 6.1% during the forecast period.
  • Which region have the highest market share in Video Surveillance Storage Market?
  • APAC holds the highest market share in the Video Surveillance Storage Market, where the region alone contributes 43.3% to the global Video Surveillance Storage Market in the year 2020.
  • Which application is expected to witness high adoption in coming years?
  • Industrial application in Video Surveillance Storage market is expected to grow at a highest growth rate in the coming years. The increase in terror threats and the rise in theft of raw materials have propelled the need for video surveillance systems and storage. The installation of CCTV cameras at manufacturing facilities improves business operations, monitors plant machinery and production processes, as well as ensures the safety of personnel on-site.
  • Who are the major vendors in the Video Surveillance Storage Market?
  • Major vendors in the Video Surveillance Storage Market are Cisco, Hitachi, Dell EMC, Honeywell, Avigilon, NetApp, Bosch, Seagate, Quantum, Schneider Electric, Fujitsu, Western Digital, BCDVideo, Cloudian, Spectra Logic, Micron Technology, Nexan, RAIDIX, and Infor trend.
Filed in: Information Technology
Publisher : marketsandmarkets
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