PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1638073
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1638073
The global video surveillance storage market was valued at USD 8.99 billion in 2023 and is projected to reach USD 14.81 billion by 2032, expanding at a CAGR of 5.7% from 2024 to 2032. The increasing adoption of video surveillance systems, driven by heightened security concerns across public and private sectors, significantly propels market growth. Technological advancements such as the integration of AI and IoT with surveillance systems further amplify the demand for efficient storage solutions.
In particular, the rapid adoption of cloud-based storage and solid-state drives (SSD) is transforming the market landscape. The robust adoption of high-definition (HD) and ultra-high-definition (UHD) cameras generates substantial data volumes, necessitating advanced storage systems that can handle real-time video feeds without compromising performance or security.
Governments worldwide are enforcing stringent regulations for installing surveillance systems in public spaces, adding another layer of growth. For instance, smart city projects globally have incorporated video surveillance systems for real-time monitoring and public safety enhancements. Cloud-based storage, powered by scalable and secure infrastructure, is becoming the backbone for supporting these massive data storage needs.
Organizations in industries such as BFSI, retail, healthcare, and education are increasingly deploying video surveillance systems for fraud detection, operational efficiency, and safety enhancements. Emerging trends like facial recognition technology, analytics-driven insights, and edge-based processing are reshaping video surveillance applications, requiring more flexible and intelligent storage architectures.
The COVID-19 pandemic further accelerated the adoption of surveillance systems, including touchless technologies such as facial recognition and license plate readers, which operate in tandem with AI-driven storage solutions. The ability of these systems to provide actionable insights while reducing physical contact risks became a critical factor during and after the pandemic.
Major market players include