Surveillance Storage Device Market Flourishing on the back of Emerging Need for Safety and Security
Added: (Fri Jan 12 2018)
The snowballing video surveillance market is significantly driving the growth of surveillance storage market along with the declining prices of the storage media. Moreover, new technological advancements and innovations from the technology companies are also enhancing storage capacities to petabytes (PBs) along with the dropping cost of storing the video surveillance data.
The global surveillance storage device market is segmented based on storage technology, storage media, by storage location type, Capacity, form factor, number of supported bay drives and by end users. Based on technology type, the Network Attached Storage (NAS) technology accounted for the largest market share of 42.25% in 2016. On the other hand, attached storage and unified storage tends to up lift the market growth in upcoming years.
According to Goldstein Research, surveillance storage device market is projected to be of USD 27.5 Billion by 2024, at a CAGR of 14.1% during the forecast period. The future growth is majorly attributed to the growing spending over the security surveillance of airports, Government organizations and other high security premises.
Geographically, Asia pacific region accounted for more than 35% of surveillance storage device market share in 2016, which is likely to grow at significant pace owing to rising demand for security surveillance devices in emerging countries such as India, China and Indonesia among others. Further, due to presence of promising government initiatives for security and the introduction of new surveillance products that require storage space in order to utilize the data information in future.
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4K Video Surveillance Cameras: Major Trend
HD CCTV, 4k displays and cameras, smarter storage devices and the impact of IoT in residential applications are the major trends of video surveillance market. The extensive adoption of network cameras in the video surveillance market has augmented its integration with the IT industry, and steered in a period of healthy growth. This has pushed a swelled demand for surveillance storage solutions, mainly for the storage-intensive verticals of government bodies, city surveillance, and transportation.
“Global Surveillance Storage Device Market Outlook 2024” contains detailed overview of the global surveillance storage device market in terms of market segmentation by storage technology, storage media, storage location, capacity, form factor, drive bays and verticals.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Surveillance Storage Device market report also provides competitive outlook for some of the major players which includes profiling of companies such as Huawei Technologies Co., Seagate Technology LLC, Rasilient, Veracity, Western Digital Corporation Coraid, HGST Inc, Hitachi, March Networks, Pelco (Schneider Electric), Pivot3, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global surveillance storage device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Submitted by:Steve Blade