Video Surveillance Storage Market

Video Surveillance Storage Market Outlook (2023 to 2033)

The global video surveillance storage market is anticipated to generate revenues of USD 12,107.6 million in 2023. Demand for video surveillance storage is anticipated to increase at a CAGR of 13.7% and reach USD 43,846.1 million by 2033.

Cloud-based Video Surveillance Storage Solutions Revolutionized the Market

• First and foremost, there is an increasing requirement for storage systems due to the desire for highly effective, AI-based surveillance systems.
• The expansion of AI edge computing and analytics for security demand for effective video surveillance storage.
• The emergence of the as a service business model contributed to the video surveillance storage market expansion.
• In the future years, the market is anticipated to experience rapid expansion owing to the growing adoption of cutting-edge technologies like cloud computing and the Internet of Things (IoT).
• Key players profit from a greater emphasis on ethical and responsible technology usage.
• Cloud solutions in wireless security camera systems are quite popular. This as cloud storage solutions frequently include redundant storage infrastructure. This ensures that video content is backed up and safeguarded against data loss or hardware malfunctions. Consumers feel at ease knowing that their priceless surveillance footage is backed up and safely kept.

Healthcare Sector Contributes to the High Adoption of Video Surveillance Storage

The healthcare and pharmaceutical industries are subject to a variety of threats, including drug-related crimes, gang activity, and irate patients. To stop violent or criminal acts, security administrators have been forced to adjust safety procedures and increase video monitoring of:

• Sidewalks
• Parking facilities
• Nearby streets
• Hallways
• Entrances
• Ambulance bays
• Emergency departments
• Waiting areas.

This is in addition to the ongoing risk of infant abduction cases and terrorist attacks. As a result, the need for VSS (video surveillance storage) solutions in this sector is anticipated to increase.

Roadblocks in the Video Surveillance Storage Industry

• Budgetary restrictions and concerns about security with cloud-based storage are preventing business advancement.
• The lack of understanding and the high cost of storage options limit the demand for video surveillance storage.
• The potential expansion of the market is restricted in part by the incompatibility of older systems with converged networks.

Communication service providers are working with over-the-top service providers and investing in new infrastructure to address these issues.

Attributes	Details
Video Surveillance Storage Market CAGR (2023 to 2033)	13.7%
Video Surveillance Storage Market Size (2023)	USD 12,107.6 million
Video Surveillance Storage Market Size (2033)	USD 43,846.1 million

Video Surveillance Storage Market Analysis: Past Growth vs. Future Demand

Historical Demand Analysis 2018 to 2022

The industry's resilience is demonstrated by the fact that it expanded at a CAGR of 11.6% between 2018 and 2022. It had a valuation of USD 6,950.5 million in 2018 and USD 10,800.7 million in 2022, respectively.

During the past few years, the telecom industry has grown significantly. To maintain their clientele in the cutthroat market, telecommunications companies are constantly under pressure to create novel services at lower prices.

During this period, the market saw tremendous growth due to the following factors:

• The constant need for network optimizations
• The high level of network performance
• Technological developments
  • SDN
  • 5G
  • NFV
• Rising smartphone usage
• BYOD trends
• Rise in cyberattacks

Future Outlook (2023 to 2033)

Megaprojects and the growth of smart cities pave the way for a positive outlook in the sector. Video surveillance storage demand is being driven by an increase in the requirements and laws for video monitoring across industrial sectors. Several businesses globally are increasing the amount of money they spend installing video surveillance.

Large enterprises are contributing effectively to the video surveillance storage market share. Due to a rise in the adoption of technology to conduct their activities safely and securely, it is anticipated to expand at a similar pace.

Nevertheless, due to a rise in SMEs' adoption of video surveillance storage solutions globally, high profits are expected in the coming years. Due to these factors, the market is likely to have a valuation of USD 43,846.1 million by 2033 and expected an incremental opportunity of USD 31,738.5 million between 2023 and 2033.

Regional Insights

• North America dominated the video surveillance storage sector, with a share of 28.1% in 2022.
• Europe had significant growth in the market, with a share of 22.1% in 2022.
• Megaprojects and countless smart cities are being implemented globally, including China, Brazil, India, Middle Eastern countries, and other developing economies, in addition to the United States.
• The necessity to modernize the present security system and the growth of essential infrastructure act as the main drivers for the video surveillance industry.

Country-wise Analysis

Countries	Market Share (2022)
United States	18.1%
Japan	6.1%
Australia	2.4%
Germany	7.1%

United States Lead the Market with Enhanced Technical Changes

The United States is anticipated to dominate the video surveillance storage sector, claiming the leading share throughout the forecast period. The demand for security and protection against possible dangers has increased. In turn, new and well-established businesses have emerged that provide facilities and services for video surveillance.

These developments are credited with driving the expansion of the region. The market's key competitors now have a variety of chances to diversify their product offerings. Key players are keeping up with rapidly changing technology advancements owing to increased military and defense spending.

Video Surveillance Storage in India & China Market Sees Growth with Rising Government Investment

Country	China
CAGR (2023 to 2033)	13.1%

Country	India
CAGR (2023 to 2033)	15.3%

The need for storage facilities and the widespread use of video surveillance in many sectors are driving this market. Government attempts in China to install surveillance cameras in public areas including cities, schools, churches, and airports further fuel market expansion.

Business development is also developing in India as a result of rising government investment in smart city policies and public protection initiatives. One of the primary factors influencing the area's extensive acceptance of video surveillance storage systems is the availability of inexpensive equipment.

The Global System for Mobile Communications Association estimates that 4G internet is used by about 93% of people in Asia Pacific. Customer relationship management is another important growing application area that is boosting the market share of the Asia Pacific region globally.

Key Players in the United Kingdom Video Surveillance Storage Sector Emphasis on Creating a Strong Customer Base

By 2033, the United Kingdom is anticipated to have a significant market CAGR of 11.3%. Growth is attributed to the existence of both established and up-and-coming firms offering video surveillance storage solutions and services.

Growing demand for safety and protection against terrorist threats is also responsible for high market share. For instance, the partnership between Colt Technology Services and IBM took a new turn when they teamed together to launch a brand-new Industrial 4.0 lab in the United Kingdom. Companies test out edge cloud services in this lab.

Category Analysis

Category	Type
Top-segment	Network Attached Storage
Market Share (2022)	29.2%

Category	Storage Media
Top-segment	Hard Disk Drives
Market Share (2022)	52.3%

Network Attached Storage (NAS) Systems Become Popular with a Simplified Setup Approach

NAS systems are designed to be simple to use, with streamlined setup and management procedures. Due to its simplicity of use, NAS is a preferred option for individuals, small businesses, and even key corporations.

It is expected to dominate the market due to the rising cloud-based solutions. Every NAS system offers cloud storage service integration, enabling organizations to make use of both on-premises and cloud-based storage advantages.

Hard Disk Drives Maintain Market Dominance for their Reliability & Affordability

In multiple applications, including video surveillance, hard disk drives have a demonstrated track record of dependability and longevity. The adoption of hard disk drives is ideally suited since they are built to handle continuous read and write operations.

The hard disk drives market keeps innovating and introducing improvements, including larger area density, faster read/write rates, and more dependability. The performance and effectiveness of HDDs are improved by these technical developments, which increases their attractiveness for storage applications related to video surveillance.

Which Application Has High Potential in the Video Surveillance Storage Business?

Key drivers of market expansion are the steadily increasing number of security and surveillance cameras used in the military/defense. The demand for video surveillance technology is expected to increase due to rising defense and security spending.

This is in response to terrorist threats, supported by the significance of AI in video surveillance systems, and growing IoT applications. During the forecast period, demand for video surveillance storage services increased due to the necessity of adhering to legal security requirements.

Competitive Landscape

Video Surveillance Storage Service Providers Focus on Leading Solutions

To acquire a competitive edge in the market, manufacturers and companies are concentrating on providing improved and sophisticated video surveillance storage solutions.

To meet the growing customer demand, key firms are increasingly concentrating on research and development investments. There are several chances for key companies to diversify their product offerings, due to the rising demand for surveillance solutions from the military and defense industry.

One of the primary business strategies used by manufacturers in the video surveillance storage industry to help customers is local manufacturing to reduce operating costs. In recent years, the market has provided some crucial benefits.

Nowadays, service providers' top issue is still cybersecurity. Leading figures are concentrating on excellent strategies to overcome this obstacle.
For example, An American cybersecurity technology business with its headquarters in Austin, Texas is called CrowdStrike Holdings, Inc. It offers services for managing cloud workloads, securing endpoints, gathering threat data, and responding to cyberattacks.

A key provider of observability and high-performance cloud log management solutions, Humio was acquired by CrowdStrike Holdings. By ingesting and correlating data from any log, application, or feed, the purchase allows CrowdStrike to further develop its extended Detection and Response (XDR) capabilities and provide useful insights and real-time security.

Recent Developments

• The 14TB Seagate SkyHawk hard drive was introduced by Seagate Technology LLC in March 2019. The recently released hard drive helps company leaders quickly and effectively manage, consume, and use the digital data gathered by devices.
• NetApp, a provider of data management and storage, released NetApp ONTAP 9.6 in May 2019.
• To assist businesses maximize the value of their data with unheard-of performance, a new mid-range, end-to-end storage system and a broader array of services have been introduced.
• Instaclustr, a prominent platform supplier of fully managed open-source database pipelines and workflow applications offered as a service, was purchased by NetApp in May 2022.
• The acquisition adds to a string of significant purchases made by NetApp to give a full line of cloud operations services (CloudOps).

Key Players

• Cisco Systems, Inc
• Dell Technologies Inc
• Seagate Technology LLC
• Rasilient Systems Inc.
• Huawei Technologies Co., Ltd
• Hitachi Vantara LLC
• Wester Digital
• Schneider Electric SE
• Promise Technology
• AXIS Communications

Key Segments

By Type:

• Network Attached Storage
• Storage Area Network
• Direct Attached Storage
• Others

By Storage Media:

• Solid State Drives
• Hard Disk Drives

By Application:

• Commercial
• City Surveillance
• Defense/Military
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa (MEA)

Frequently Asked Questions

How big is the Video Surveillance Storage Market?

The global video surveillance storage market is valued at USD 12,107.6 million in 2023.

Who are the Key Video Surveillance Storage Market Players?

The key players in the video surveillance storage market are Hikvision, Dahua Technology, and Milestone Systems.

Which is the Key Segment by Product Type?

The hard disk drive (HDD) segment is the largest and is expected to remain dominant throughout the forecast period.

What is the Go-to-Market Strategy?

Players opt for mergers and acquisitions, partnerships, and product launches.

Which are the Key Asian Countries in the Video Surveillance Storage Market?

China, India, and Japan dominate the Asian market.