New York, NY -- (SBWIRE) -- 11/28/2016 -- Use of video surveillance in organizations across each vertical is growing, mounting up new challenges related to handling surveillance systems and storing the exponentially increasing volume of raw video footage. Many of the large enterprises use more than 100 cameras on an average, which are functioning 24*7 around the clock—with no end in sight. The number of surveillance cameras and the worth of video analytics are only projected to grow and so is the need for video surveillance storage. Commercial expansion triggers maximum investment in video surveillance; higher capacity storage media is a vital prerequisite for these system upgrades. With the advancement in storage technologies over the last decade and introduction of IP cameras, the process of video surveillance became simpler and the demand for video surveillance storage amplified.
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The ever-increasing installations of surveillance systems across all verticals promises significant growth opportunity for video surveillance storage market. Furthermore, gaining popularity of cloud-based storage coupled with need to comply with necessary security regulations is further expected to buttress the growth of video surveillance storage market during the projected period. However, risk of vendor lock-in, which bars the end-users from migrating to other vendor's platform, is expected to hinder the growth of video surveillance storage market. Also, high cost associated with storage systems is likely to restrain the growth of the global video surveillance storage market amidst the forecast period 2015-2025.
With the steadily evolving need for safety systems, video surveillance storage market is anticipated to witness healthy CAGR during the projected period. North America was the dominating region in video surveillance storage market in 2014 with market share of more than 35% and is expected to remain dominant followed by Western Europe during the forecast period. Asia Pacific ranks as the fastest growing regional market for video surveillance storage providers with high development rate of corporate sector across countries like China, India and Philippines.
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The key vendors in the video surveillance storage market include Cisco Systems Inc., EMC Corporation, Seagate Technology LLC, NetApp Inc., Avigilon Corporation, Buffalo Technology, Hewlett-Packard Company, Dell Inc., Western Digital Corporation, Netgear Inc. and others. Major vendors in the video surveillance storage market follow the strategy of introducing cost-effective hardware and services to end-users for gaining competitive edge. In addition, strategic partnerships with major cloud-based integrators is the other strategy followed by the video surveillance storage providers to gain competitive edge.
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