by Brianna Crandall — February 26, 2014—Global market research and consulting company MarketsandMarkets has released the results of its research on the video surveillance storage market around the world, which indicates that the market will grow to be worth $10.41 Billion by 2018.
The report, Video Surveillance Storage Market by Technology (DAS, SAN, NVR, NAS, DVR, Unified Storage), by Media (HDD, SSD, Optical Drives, Linear Tapes), by Deployment (Cloud, On-Premise) – Worldwide Market Forecasts and Analysis (2013 – 2018) segments the global market into various sub-segments with in-depth analysis and forecasting of revenues. It also identifies the drivers and restraints for this market with insights into trends, opportunities, and challenges.
Reducing costs of hard disk drives, increasing implementation of surveillance systems, and higher return on investments due to scalability and flexibility are playing a major role in shaping the future of video surveillance storage market, according to the report. Even though government organizations and enterprises have implemented storage solutions for surveillance data, due to regulations that require longer storage of the data, these organizations and enterprises are switching to more scalable storage solutions. Many companies are providing cost-effective solutions for surveillance storage that can store data for several years cost effectively and securely.
MarketsandMarkets has segmented the global video surveillance storage market by type of storage technologies and solutions: direct attached storage (DAS), network attached storage (NAS), storage area network (SAN), digital video recorders (DVRs), network video recorders (NVRs) and unified/hybrid storage; by type of storage media: hard disk drives (HDDs), solid state drives (SSDs) and others which include linear tapes and magnetic disks; by type of deployment models: cloud deployment and on-premise deployment; by type of professional services: consulting and design, system integration and maintenance and support; by type of end-users: government and utilities, enterprises and consumer and home; and by regions: North America (NA), Asia Pacific (APAC), Europe (EU), Middle East and Africa (MEA), and Latin America (LA).
MarketsandMarkets expects that the global video surveillance storage market is estimated to be $4.90 billion in 2013 and is expected to grow to $10.41 billion in 2018. This represents an estimated compound annual growth rate (CAGR) of 16.3% from 2013 to 2018. In the current scenario, network attached storage (NA) is expected to be the biggest area for spending and adoption in the industry. MarketsandMarkets expects that increasing video surveillance storage markets in developing economies will further enhance the growth of the market.
