WW Video Surveillance Storage Market Value to Cross $39.5 Billion in 2031
CAGR of 12.3% from 2022
This is a Press Release edited by StorageNewsletter.com on March 1, 2023 at 2:02 pmAccording to the report published (320 pages, $3,690) by Allied Market Research, the global video surveillance storage market generated $12.3 billion in 2021, and is estimated to reach $39.5 billion by 2031, witnessing a CAGR of 12.3% from 2022 to 2031.
The report provides an analysis of top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. It is a helpful source of information for market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market. It offers detailed segmentation of the global video surveillance storage market based on component, storage media, industry vertical, and region. It provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps investors, market players, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on type, the hardware segment accounted for the highest share in 2021, contributing to more than half of the total share, and is expected to maintain its leadership status during the forecast period. However, the software segment is expected to manifest the highest CAGR of 14.65% from 2022 to 2031.
Video Surveillance Storage Market
The SSD segment is anticipated to grow at a significant rate as SSDs typically access data faster, accelerate apps, and speed-up a computer’s boot-up time.
Based on storage media, the HDD segment held the largest share in 2021, accounting for nearly three-fourths of the global video surveillance storage industry, and is expected to maintain its dominance in terms of revenue by 2031. However, the SSD segment is estimated to witness the largest CAGR of 14.22% during the forecast period.
On the basis of enterprise size, the large enterprises segment dominated the market in 2021, accounting for around two-thirds of the market, and is projected to maintain its leading position throughout the forecast period. However, the SMEs segment is estimated to showcase the highest CAGR of 14.23% during the forecast period.
Based on region, AsiaPac accounted for the highest share in 2021, contributing to around two-fifths of the total market share, and is projected to continue its leadership status by 2031. However, the market across North America is projected to portray the fastest CAGR of 14.97% during the forecast period.
Leading players of the global video surveillance storage market analyzed in the research include Carbon Black Inc., Cisco Systems, Inc., Crowdstrike Inc., Intel Corporation, McAfee, LLC, Microsoft Corporation, Palo Alto Networks, Inc., RSA Security LLC., Symantec Corporation, and Trend Micro Incorporated.
Comments
Growing rapidly, the video surveillance business is among the fastest business for storage, pushed especially by installations of IP cameras for security reasons, for vehicle and pedestrian traffic, public transport subway and railroad stations, sporting events, schools, private homes and shops. For example, these cameras are being places by dozens and more in each subway and railroad stations in the world. They need a lot of storage as images and videos need to be kept for several days, depending on the country's legislation.
But the figures here from Allied Market Research are very high when you compared them the ones of MarketsandMarkets, estimating that the global entire video surveillance market is projected to grow from $48.7 billion in 2022 to $76.4 billion by 2027 or 9.4% CAGR.
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