PUBLISHER: The Business Research Company | PRODUCT CODE: 1513196
PUBLISHER: The Business Research Company | PRODUCT CODE: 1513196
A network video recorder (NVR) is a specialized device utilized in video surveillance systems to record and store video footage from network cameras. It captures analog video signals by interfacing with digital IP (Internet Protocol) cameras. These devices are network-connected and can be accessed remotely, allowing users to view live or recorded footage from any location with internet connectivity.
The main types of NVRs are standalone network video recorders, rackmount network video recorders, and others. A standalone NVR records and stores video footage from IP cameras, leveraging high-definition internet protocol (HD-IP) and analog high definition (HD) technologies. It is compatible with both wired and wireless cameras. These devices serve various end-use sectors, including military and defense, government, healthcare, manufacturing or industrial, transportation, commercial, and utilities.
The network video recorder market research report is one of a series of new reports from The Business Research Company that provides network video recorder market statistics, including network video recorder industry global market size, regional shares, competitors with a network video recorder market share, detailed network video recorder market segments, market trends and opportunities, and any further data you may need to thrive in the network video recorder industry. This network video recorder market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The network video recorder market size has grown rapidly in recent years. It will grow from $3.14 billion in 2023 to $3.56 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth observed during the historical period can be attributed to advancements in surveillance system capabilities, the widespread adoption of IP-based surveillance systems, increasing demand for video analytics, rising apprehensions regarding security and safety, and the integration with other security systems.
The network video recorder market size is expected to see rapid growth in the next few years. It will grow to $5.86 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%. The anticipated growth in the forecast period is expected to be driven by the emergence of 4K and ultra-high-definition (UHD) video recording, expanding applications in smart cities and smart homes, integration with cloud-based storage solutions, adoption of artificial intelligence (AI) and machine learning (ML) technologies, and increasing demand for video surveillance in retail and commercial sectors. Noteworthy trends projected for the forecast period encompass increased demand for cloud-based video storage and analytics solutions, growing integration of AI and machine learning in video surveillance systems, adoption of 4K and UHD cameras for enhanced video quality, the rise of edge computing for real-time video analytics and processing, and the expansion of video surveillance as a service (VSaaS) offerings.
The increasing number of surveillance network breaches is anticipated to drive the growth of the network video recorder (NVR) market. Surveillance network breaches involve unauthorized access, compromise, or exploitation of surveillance systems, leading to security vulnerabilities, data breaches, or privacy violations. These surveillance devices are part of the Internet of Things (IoT) ecosystem, which often lacks adequate security features, such as secure firmware, secure communication protocols, and protection against remote attacks. This deficiency significantly contributes to the rise in surveillance network breaches. NVRs implement robust access control mechanisms, including strong authentication methods such as multi-factor authentication (MFA) and role-based access control (RBAC). These mechanisms ensure that only authorized users can access surveillance data and management functions, thereby reducing the risk of data breaches. For example, in March 2021, Check Point Software Technologies Ltd., an Israel-based software company, reported a breach where hackers infiltrated many IoT security cameras through the Silicon Valley-based startup Verkada. This breach led to unauthorized access to 150,000 IP cameras in various sensitive locations, including hospitals, police departments, prisons, schools, and well-known companies such as Tesla and Equinox. Consequently, the increased focus on cybersecurity in surveillance networks is driving the growth of the NVR market.
Leading companies in the NVR market are developing internet protocol (IP) surveillance solutions to enhance security and provide advanced features. IP surveillance solutions offer superior network video surveillance by delivering higher image quality, scalability, remote access, intelligent analytics, easy integration, cost-effectiveness, and future-proofing. For instance, in June 2021, D-Link Systems Inc., a Taiwan-based communications and networking company, introduced the JustConnect 16-Channel H.265 PoE Network Video Recorder (DNR-4020-16P), a comprehensive IP video surveillance solution designed for small and medium-sized businesses and enterprises. The DNR-4020-16P features integrated Power over Ethernet (PoE) ports for up to 16 cameras and supports H.265/HEVC for efficient bandwidth usage and high-quality video resolution. It includes built-in high-definition multimedia interface (HDMI) and video graphics array (VGA) ports, and supports keyboard and mouse for real-time monitoring and playback without additional hardware or software. The DNR-4020-16P is compatible with D-Link's Vigilance camera range and mydlink cameras, enabling access to 16 live channels for live viewing, recording, playback, and pan, tilt, and zoom (PTZ) control. These features are accessible remotely through the JustConnect+ mobile app.
In December 2021, Delta Electronics Inc., a Taiwan-based electronics company, acquired March Networks for an undisclosed amount. This acquisition strengthened Delta's position in the video surveillance market and expanded its portfolio to include enterprise video surveillance and video-based business intelligence solutions. This move enables Delta to offer comprehensive security and management solutions to its customers. March Networks, a Canada-based software company, specializes in IP video surveillance solutions, including network video recorders.
Major companies operating in the network video recorder market are Panasonic Corporation, Honeywell International Inc., Johnson Controls Inc., Delta Electronics Inc., Hikvision, Zhejiang Dahua Technology Co. Ltd., Ganz Security, Axis Communications AB, Avigilon Corporation, Verint Systems Inc., Teledyne FLIR LLC, IDIS Global, Genetec Inc., VIVOTEK Inc., Milestone Systems, Synology Inc., Pelco Incorporated, D-Link Corporation, Bosch Security Systems, Hanwha Techwin Co. Ltd., Arecont Vision Costar, IndigoVision, Vicon Industries Inc., Lorex Technology Inc., ACTi Corporation
North America was the largest region in the network video recorder market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the network video recorder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the network video recorder market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The network video recorder market consists of revenues earned by entities by providing services such as video recording, remote access, alerts and notifications, video management, and analytics and reporting services. The market value includes the value of related goods sold by the service provider or included within the service offering. The network video recorder market also includes sales of internet protocol cameras, network cables, storage devices, mounting hardware, monitors, and controllers which are used in providing the services. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Network Video Recorder Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on network video recorder market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for network video recorder? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The network video recorder market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.