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What Will Be the Growth Trajectory of the Video Surveillance Storage Market from 2024 to 2033?

In recent years, the market size of video surveillance storage has seen substantial expansion. Predictions indicate a rise from $22.91 billion in 2023 to $27.76 billion in 2024, a compound annual growth rate (CAGR) of 21.2%. Factors contributing to this growth include an increase in surveillance installations, a switch to IP-based systems, the popularity of high-definition cameras, data storage necessities, and concerns over security and incident management.

In the upcoming years, the video surveillance storage market is projected to witness substantial growth. The market is estimated to expand to $58.69 billion in 2028, with a compound annual growth rate (CAGR) of 20.6%. Factors influencing this growth include the advent of new market players, intensifying market competition, technological advancements in data management, affordable and scalable solutions, and industry-specific demands. Major market trends anticipated include the adoption of edge storage, focus on cost-efficiency and return on investment, hybrid storage strategies, cloud-based storage solutions, and the integration of video analytics.

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What Are the Primary Growth Drivers for the video surveillance storage Market?

The forecasted rise in terrorist activities is likely to catalyze the expansion of the video surveillance storage market. Terrorist activities are deliberate violent acts, generally committed by non-state entities or collectives, designed to instill fear, panic, or create political, ideological, or religious terror. Video surveillance storage significantly aids in the fight against terrorism by supplying invaluable data for the scrutiny and evaluation of security breaches, such as terrorist assaults. For example, the Global Terrorism Index from the Institute for Economics & Peace, an Australian think tank, reported in 2023 that terrorist attacks were more lethal in 2022, causing an average of 1.7 fatalities per attack compared to 1.3 in 2021. Consequently, the escalating rate of terrorist attacks is propelling the video surveillance storage market.

Which Key Segments Comprise the Video Surveillance Storage Market?

The video surveillance storage market covered in this report is segmented –

1) By Products: Storage Area Network (SAN) , Network Attached Storage (NAS) , Direct Attached Storage (DAS) , Video Recorders

2) By Storage Media: Hard Disk Drive (HDD) , Solid State Drive (SSD)

3) By Deployment Modes: Cloud, On-premises

4) By Vertical: Banking, Financial Services and Insurance (BFSI) , Education

What Trends Are Revolutionizing Standards in the Video Surveillance Storage Market?

The progression of technology is a significant trend catching on in the video surveillance storage market. Numerous leading companies are gravitating towards cloud-based video surveillance storage as a solution for effective and extensive storage. The cloud-based system moves the captured footage to the cloud, providing limitless storage space. A key illustration of this is Ava Security, a firm from the USA that specializes in synchronized physical and cyber security. They unveiled Ava Cloud Storage in September 2021. This facility allows customers to cleverly archive their video content in the cloud, guaranteeing a reliable, cost-effective, and handy archive for an extended period. This means that clients no longer have to capture non-stop footage 24/7 and can, instead, adopt a more calculated approach to video storage. This tactical storage is made possible due to Ava Cloud Storage’s use of machine learning-based Smart Recording, which assesses the relevance of different activities and incidents.

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What Regions Are Propelling Growth in the Video Surveillance Storage Industry?

North America was the largest region in the video surveillance storage market share in 2023. The regions covered in the video surveillance storage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Video Surveillance Storage Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the video surveillance storage market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Video Surveillance Storage Market Include

1. Video Surveillance Storage Market Executive Summary

2. Video Surveillance Storage Market Segments

3. Video Surveillance Storage Market Size And Template Market Growth Rate

4. Key Video Surveillance Storage Market Trends

5. Major Video Surveillance Storage Market Drivers

……

25. Key Mergers And Acquisitions In The Video Surveillance Storage Market

26. Top Video Surveillance Storage Companies

27. Video Surveillance Storage Market Opportunities And Strategies

28. Video Surveillance Storage Market, Conclusions And Recommendations

29. Appendix

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