Video Surveillance Storage Global Market Report 2024

The global video surveillance storage market has grown exponentially in recent years. It will grow from $22.91 billion in 2023 to $27.76 billion in 2024 at a compound annual growth rate (CAGR) of 21.2%. The growth observed in the historical period can be credited to several factors, including a significant increase in surveillance system installations, the shift towards IP-based systems, the proliferation of high-definition cameras, compliance with data retention regulations, heightened security considerations, and the emphasis on effective incident management strategies.

The global video surveillance storage market is expected to see exponential growth in the next few years. It will grow to $58.69 billion in 2028 at a compound annual growth rate (CAGR) of 20.6%. The anticipated growth in the forecast period can be linked to various factors, including the entry of new participants into the market, increased market competitiveness, advancements in efficient data management practices, the availability of cost-effective and adaptable solutions, and the growing demand for industry-specific solutions. Key trends expected in the forecast period encompass the uptake of edge storage technology, a concentrated focus on cost-efficiency and return on investment (ROI), the implementation of hybrid storage strategies, the utilization of cloud-based storage solutions, and the integration of video analytics into storage systems.

The anticipated growth of the video surveillance storage market is driven by the expectation of possible terrorist attacks, emphasizing the crucial role of video surveillance storage in counterterrorism efforts. Terrorist attacks, intentional acts of violence perpetrated by non-state actors or groups, seek to create fear, panic, or political, ideological, or religious intimidation. Video surveillance storage is integral to counterterrorism initiatives, providing essential data for the investigation and analysis of security incidents, including terrorist attacks. As per the Global Terrorism Index by the Institute for Economics & Peace in 2023, terrorist attacks became more deadly in 2022, with an average of 1.7 deaths per attack compared to 1.3 deaths per attack in 2021. The increasing frequency of terrorist attacks is a significant driver for the video surveillance storage market.

The rise in cyberattacks is also poised to contribute to the growth of the video surveillance storage market. Cyberattacks involve deliberate and malicious attempts to exploit vulnerabilities in computer systems, networks, or digital devices for unauthorized access, disruption, damage, or theft of information and resources. Video surveillance storage plays a critical role in preventing cyberattacks on surveillance systems, ensuring data integrity, and safeguarding against unauthorized access to sensitive footage. According to data provided by Checkpoint in January 2023, global cyberattacks increased by 38% in 2022 compared to 2021. The growing threat of cyberattacks underscores the importance of robust video surveillance storage solutions.

Technological advancements, particularly in cloud-based video surveillance storage, represent a key trend gaining popularity in the market. Major companies are focusing on cloud-based solutions to provide efficient and extensive storage capabilities. Cloud-based video surveillance storage involves moving captured video to the cloud, offering virtually infinite storage space. In September 2021, Ava Security, a US-based company specializing in unified physical and cyber security, launched Ava Cloud Storage. This innovative solution intelligently backs up video content in the cloud, ensuring a reliable, cost-effective, and convenient archive. Ava Cloud Storage utilizes machine learning-based Smart Recording to evaluate the relevance of activities or events, allowing for more strategic and efficient video storage. This emphasis on technological advancement aligns with the evolving needs of the video surveillance storage market.

Major players in the video surveillance storage market are proactively addressing challenges faced by traditional video surveillance infrastructures through the innovation of new versions. These updated versions of video surveillance storage solutions incorporate advanced technologies, increased storage capacity, and improved data management capabilities to effectively handle and retrieve large volumes of video data in modern surveillance systems. In March 2023, Quantum Corporation, a US-based provider of solutions for video and unstructured data, launched version 5.0 of its Unified Surveillance Platform (USP) software. Specifically designed for video surveillance and analytics, the software is capable of recording over 10,000 video streams simultaneously on a single cluster. It achieves an impressive 99.9999% uptime while simultaneously reducing the data center footprint by up to 80%. The updated version introduces a simplified user experience, automated deployment models, and enhanced system monitoring. Notably, the USP replaces traditional Network Video Recorder (NVR) servers with a unified compute and storage platform, leveraging patented video data reduction techniques for optimal performance and cost-effectiveness. This innovation addresses the evolving needs of modern surveillance infrastructure.

In October 2021, Delta, a UK-based company specializing in power and thermal management solutions, acquired March Networks for USD 114 million. This strategic acquisition aimed to bolster Delta's position in the video surveillance and building automation solutions market. The collaboration with March Networks provides Delta with increased exposure to the expanding video market beyond the surveillance division. March Networks, a Canada-based company, specializes in IP video surveillance solutions, contributing to the enhancement of Delta's capabilities in the evolving landscape of video surveillance storage.

Major companies operating in the video surveillance storage market report are Cisco Systems Inc., Dell Technologies Inc., Hitachi Ltd., Seagate Technology LLC, Robert Bosch GmbH, Avigilon Corporation, Schneider Electric SE, Hangzhou Hikvision Digital Technology Co. Ltd., Panasonic Corporation, Pelco Incorporated, Huawei Technologies Co. Ltd., Axis Communications AB, BCDVideo LLC, Dahua Technology Co. Ltd., FLIR Systems Inc., AxxonSoft Inc., Bosch Security Systems, Inc., Digital Watchdog Inc., Exacq Technologies Inc., Genetec Inc., Hanwha Vision, Hewlett Packard Enterprise Company, Intransa Inc., March Networks Corporation, Milestone Systems, NetApp Inc., NICE Systems Ltd., Pivot3, Promise Technology Inc., QNAP Systems Inc., Quantum Corporation, Razberi Technologies Inc., Salient Systems Corporation, Synology Inc., Toshiba Corporation, Western Digital Corporation

North America was the largest region in the video surveillance storage market share in 2023. The regions covered in the video surveillance storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the video surveillance storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary products within the realm of video surveillance storage include Storage Area Networks (SAN), Network-Attached Storage (NAS), Direct-Attached Storage (DAS), and video recorders. A Storage Area Network (SAN) functions as a high-speed network or subnetwork interconnecting storage devices, offering shared storage pools accessible to multiple servers. It employs storage media like Hard Disk Drives (HDD) and Solid State Drives (SSD), deployed both on cloud platforms and on-premises infrastructure. Predominantly utilized by sectors such as Banking, Financial Services, Insurance (BFSI), and education, SAN facilitates secure and efficient data management for surveillance purposes.

This report provides video surveillance storage market statistics, including video surveillance storage industry global market size, regional shares, competitors with a video surveillance storage market share, detailed video surveillance storage market segments, market trends and opportunities, and any further data you may need to thrive in the video surveillance storage industry. This video surveillance storage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The video surveillance storage market consists of revenues earned by entities by providing video surveillance storage services such as remote viewing, management alerts, and cyber security. The market value includes the value of related goods sold by the service provider or included within the service offering. The video surveillance storage market also includes sales of video recorders, cameras, recording equipment, monitors, and supporting accessories that are used in providing video surveillance storage services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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