Increasing security concerns, adoption of IP cameras, rise of video analytics, and data retention requirements drive the Video Surveillance Storage market.
PORTLAND, OREGON, UNITED STATES, July 7, 2023/EINPresswire.com/ — The Global Video Surveillance Storage Market, which was valued at $12.3 billion in 2021, is anticipated to increase to $39.5 billion by 2031, with a compound annual growth rate (CAGR) of 12.3% between 2022 and 2031.
The practice of saving real-time video data generated by security cameras on a storage device is known as video surveillance storage. In order to evaluate the event or action as proof of the state in file or block form, the data can then be recovered at a later time. Campus safety, hospital and patient safety, stadium safety, airline safety, and police safety all use video surveillance systems.
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Increasing Security Concerns: With the rising security threats and the need for enhanced safety measures, organizations and governments are investing heavily in video surveillance systems. The need for storing and managing large volumes of video footage is driving the demand for advanced video surveillance storage solutions.
Growing Adoption of IP Cameras: The shift from traditional analog cameras to IP-based cameras is a significant driver for the Video Surveillance Storage market. IP cameras offer superior image quality, higher resolution, and advanced features, generating larger amounts of data. This requires robust storage solutions capable of handling the increased data load.
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Rise of Video Analytics: Video surveillance systems are increasingly incorporating advanced video analytics capabilities, such as facial recognition, object detection, and behavior analysis. These analytics generate additional data, increasing the storage requirements. As organizations seek to leverage video analytics for actionable insights, the demand for scalable and efficient storage solutions grows.
Data Retention and Compliance Requirements: There is a growing emphasis on data retention periods and compliance regulations in the surveillance industry. Legal and regulatory requirements mandate the storage and retention of video footage for extended periods. As a result, organizations require reliable and scalable storage solutions that can accommodate long-term data retention needs.
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The key players that operate in the video surveillance storage market analysis are 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. These players have adopted various strategies to increase their market penetration and strengthen their position in the video surveillance storage industry.
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Article originally published on www.einpresswire.com as Video Surveillance Storage Market Size to Witness Strong Growth as Security Concerns Rise