Increasing shipments of network cameras, HD CCTV cameras, etc, government initiatives towards safer road and cities, rising trend of video surveillance and investment in city surveillance spending which is likely to be fueled by counter-terrorism initiatives are the major drivers of the surveillance storage device market. However, large currency movements in 2015 were responsible for tough business conditions in many regions.
Global Surveillance Storage Device Market Outlook 2024
According to Goldstein Research, surveillance storage device market size is set to reach USD 27.5 billion by 2024, at a CAGR of 14.1% over the forecast years owing to widespread adoption and high unit shipments of CCTV cameras, set-top box and play stations.
Geographically, APAC accounted for about 35% of surveillance storage device market share in 2016 owing to the presence of favourable government initiatives for security and the introduction of new products that require storage space in order to utilize the data information in future.
4K Video Surveillance: Video Surveillance Trend
HD CCTV, 4k displays, smarter storage, public safety, and the impact of IoT in residential applications are the trends of video surveillance market. Shipment volume of 4K cameras in 2016 remained low i.e. less than 1% of the 66 million network cameras anticipated to be shipped globally. It is expected to see over million 4K network cameras units shipped in a calendar year by 2024. More “4K-compliant” cameras will be launched due to the increased use of 4Kp30 and chipsets.
Global Surveillance Storage Device Market Outlook
The report contains a detailed overview of the global surveillance storage device market in terms of market segmentation by storage technology, storage media, storage location, capacity, form factor, drive bays and verticals.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
The global Surveillance Storage Device market report also provides a competitive outlook for some of the major players which includes profiling of companies such as Huawei Technologies Co., Seagate Technology LLC, Resilient, Veracity, Western Digital Corporation Coraid, HGST Inc, Hitachi, March Networks, Pelco (Schneider Electric), Pivot3, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global surveillance storage device market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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