Video Surveillance Storage Market Drivers Shaping Future Growth, Revenue USD 39.5 billion by 2031 | CAGR 12.3%
Gaining popularity of cloud-based storage coupled with need to comply with necessary security regulations is further expected to drive the market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, November 1, 2022 /EINPresswire.com/ — Allied Market Research published a new report, titled, “Video Surveillance Storage Market Drivers Shaping Future Growth, Revenue USD 39.5 billion by 2031 | CAGR 12.3% .” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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Rise in installation of video surveillance system owing to security concerns and Availability of inexpensive hard disk have boosted the growth of the global video surveillance storage market. Based on region, Asia-Pacific accounted for the highest share in 2021, contributing to around two-fifths of the total market share, and is projected to continue its leadership status by 2031.
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The report offers detailed segmentation of the global video surveillance storage market based on component, storage media, industry vertical, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps investors, market players, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
On the basis of enterprise size, the large enterprises segment dominated the market in 2021, accounting for around two-thirds of the market, and is projected to maintain its leading position throughout the forecast period. However, the SMEs segment is estimated to showcase the highest CAGR of 14.23% during the forecast period.
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Based on region, Asia-Pacific accounted for the highest share in 2021, contributing to around two-fifths of the total market share, and is projected to continue its leadership status by 2031. However, the market across North America is projected to portray the fastest CAGR of 14.97% during the forecast period. The research also analyzes regions including Europe and LAMEA.
Leading players of the global video surveillance storage market analyzed in the research include Carbon Black Inc., Cisco Systems, Inc., Crowdstrike Inc., Intel Corporation, McAfee, LLC, Microsoft Corporation, Palo Alto Networks, Inc., RSA Security LLC., Symantec Corporation, and Trend Micro Incorporated.
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Covid-19 Scenario:
• The Covid-19 pandemic positively impacted the adoption of video surveillance storage system.
• Companies had focused on emerging technologies such as AI, IoT, and cloud computing that reduce processing time and resource-efficient across industries such as BFSI, government, and healthcare to perform contactless operations.
• Moreover, the pandemic encouraged the use of contactless solutions such as facial recognition in video surveillance system.
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