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.
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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