The global Video Surveillance Storage (VSS) market size to grow at a Compound Annual Growth Rate (CAGR) of 18.1% during the forecast period. The global VSS market size is forecasted to grow from USD 7.6 billion in 2019 to USD 17.5 billion by 2024, at a CAGR of 18.1% during 2019–2024. Major growth factors for the market include the adoption of IP cameras and demand for video surveillance and its storage to secure public places. On the other hand, the low awareness of the availability of storage technologies and systems may restrain the market growth of the VSS market.
The city surveillance segment is expected to hold the highest market share during the forecast period The VSS market by application is segmented into commercial, defense/military, city surveillance, and industrial.The city surveillance segment is expected to hold the largest market size and highest growth rate during the forecast period.
The city surveillance application helps in monitoring traffic, preventing criminal activities at public places, and monitoring suspicious activities at public places.The public places include airports, railway stations, seaports, theaters, playgrounds, and institutes.
For monitoring cities, a large number of high-resolution cameras are installed. These high-resolution cameras demand scalable storage that supports the increasing demand for storing video surveillance footages.
The healthcare and pharmaceutical vertical to grow at the highest growth rate during the forecast period By vertical, the VSS market is segmented into government and defense, education, BFSI, transportation and logistics, healthcare and pharmaceutical, manufacturing, media and entertainment, retail, and others (IT and telecommunications, legal, and construction).Among these verticals, the healthcare and pharmaceutical vertical is expected to grow at the highest CAGR during the forecast period.
Hospital administrators are relying more on video surveillance to protect from false claims against nurses, physicians, and staff.More cameras are being installed to increase viewing areas so that a complete picture of patient-staff interaction can be captured.
This contributes to the growth of the VSS market.
Among regions, Asia Pacific to hold the highest market share during the forecast period The VSS market by region covers North America, Europe, APAC, MEA, and Latin America.APAC is expected to grow at the highest CAGR during the forecast period, owing to the rapid deployment of VSS solutions for monitoring city traffic and investigating crime scenes, and storing the video surveillance footage either on-premises or in cloud.
Major APAC countries such as China, Australia, India, and New Zealand are expected to record high growth rates in this market. The companies such as NetApp, Dell, Cisco, and IBM are expanding their cloud-based storage business in the region due to the availability of IT infrastructure.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the VSS market. • By Company: Tier I: 15%, Tier II: 40%, and Tier III: 45% • By Designation: C-Level Executives: 40%, Directors: 35%, Managers: 15, and Others: 10% • By Region: North America: 45%, Europe: 15%, APAC: 30%, MEA: 5%, and Latin America: 10%
The major VSS vendors operating in the market include Cisco (US), Hitachi (Japan), Dell (US), Honeywell (US), Avigilon (Canada), NetApp (US), Bosch (Germany), Seagate (US), Quantum (US), and Schneider Electric (France). The report provides these players’ company profiles, business overview, product offerings, recent developments, and market strategies.
Research Coverage The report segments the global VSS market by product, storage media, deployment mode, enterprise size, application, vertical, and region.The product segment includes Storage Area Network (SAN), Network Attached Storage (NAS), Direct Attached Storage (DAS), and video recorders.
The VSS market has been segmented by deployment mode into on-premises and cloud.The VSS market by enterprise size has been segmented into Small and Medium-sized Enterprises (SMEs) and large enterprises.
By application, the VSS market has been segmented into commercial, defense/military, city surveillance, and industrial.The vertical segment includes government and defense, education, Banking, Financial Services, and Insurance (BFSI), transportation and logistics, healthcare and pharmaceuticals, manufacturing, energy and utilities, media and entertainment, retail, and others (IT and telecommunications, legal, and construction).
The report covers the VSS market in five major regions: North America, Europe, APAC, Middle East and Africa (MEA), and Latin America.
The report would help the market leaders and new entrants in the global VSS market in the following ways: 1. The report segments the market into various subsegments; hence, it covers the market comprehensively. It provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are split further across applications and regions. 2. It helps in understanding the overall growth of the market. It also provides information about key market drivers, restraints, challenges, and opportunities. 3. It helps stakeholders in understanding their competitors better and gaining more insights to strengthen their positions in the market. The study also presents the positioning of the key players based on their product offerings and business strategies.
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