Video Surveillance Storage Market size worth $ 119.71 Billion, Globally, by 2030 at 21.74% CAGR: Verified Market Research®
With the amount of security and safety threats becoming more prevalent, there is an increased demand for cloud-based surveillance storage devices in several different sectors. This has led to an increase in the growth of the market.
JERSEY CITY, N.J., June 23, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Video Surveillance Storage Market" By Storage Media (Solid State Drives, Hard Disk Drives), By Storage Technologies (Network Attached Storage, Storage Area Network), By Deployment Model (Cloud-based, On-premise), By Vertical (Healthcare, Government And Defense, Home Security), and By Geography. According to Verified Market Research, the Video Surveillance Storage Market size was valued at USD 20.76 Billion in 2021 and is projected to reach USD 119.71 Billion by 2030, growing at a CAGR of 21.74% from 2022 to 2030.
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Global Video Surveillance Storage Market Overview
With the amount of security and safety threats becoming more prevalent, there is an increase in the need for cloud-based surveillance storage devices in several different vehicles. This has led to an increase in the demand for the Video Surveillance Storage Market size. Factors such as the absence of awareness concerning the availability of storage systems and technologies as well as the cost of expanding bandwidth are restraining the market for video surveillance.
Video surveillance cameras were newly installed in shops and commercial offices a few years ago which generated 566 petabytes of data daily, COVID-19 pandemic accelerated this trend. Such cameras are estimated to produce over 3500 petabytes of data on daily basis and this will increase the demand vigorously for existing data storage facilities. Hence, companies are spending on increasing the storage limits of existing data storage facilities.
Several public and private corporations are increasingly concerned about the integrity and security of their data. Also, many people are using the Internet of Things (IoT) which requires the usage of facilities that can store large volumes of data. Technologies are progressing in the data storage field, new technologies are increasing the capability to store more volume data. Also, prices have been reduced for hard disk drives and they are much more affordable for the average organization. Above mentioned factors are driving the growth of the Video Surveillance Storage Market.
The major players in the market are Hitachi, Ltd., Seagate Technology LLC, Netapp, Inc., Schneider Electric (Pelco), Cisco Systems, Inc., Dell, Honeywell, Avigilon, Bosch, Quantum, and Fujitsu.
Verified Market Research has segmented the Global Video Surveillance Storage Market On the basis of Storage Media, Storage Technologies, Deployment Model, Vertical, and Geography.
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