Video Surveillance Storage Market To Boom By 2018

by CXOtoday News Desk    Feb 07, 2014

video surveillance storagevideo surveillance storage market that is pegged at $4.90 billion in 2013 is expected to grow to $10.41 billion in 2018, at an estimated CAGR of 16.3% from 2013 to 2018, predicts a MarketsandMarkets report.

Reducing costs of the hard disk drives, increasing implementation of the surveillance systems and higher return on investments due to scalability and flexibility are playing a major role in shaping the future of Video Surveillance Storage Market, says the report.

According to MarketsandMarkets, even though the government organizations and enterprises have implemented the storage solutions for surveillance data, due to regulations of longer storage of the data, these organizations and enterprises are switching to more scalable storage solutions. Many companies are providing cost effective solutions for surveillance storage which can store data for several years cost effectively and securely.

The market that comprises direct attached storage (DAS), network attached storage (NAS), storage area network (SAN), digital video recorders (DVRs), network video recorders (NVRs) and unified/hybrid storage as well as hard disk drives (HDDs), solid state drives (SSDs) will not only see a massive growth from developed countries such as North America, but also from emerging regions in Asia Pacific, Middle East and Africa (MEA), and Latin America (LA), points out the report, adding that there will be a considerable increase in Cloud deployment in these regions.

Companies that will provide video surveillance storage solutions can look forward to gain a better competitive advantage in this growing market, thereby creating sophisticated storage solutions and services for the government organizations and enterprises, says the report.