Posted On: 2017-07-05
Increasing adaptation of security measures, the growing trend of IP & high-resolution cameras as well as rising demand for high capacity surveillance storage solutions are some of the key factors contributing to the growth of India Video Surveillance Storage Market. Further, emerging need for video surveillance storage solutions across various verticals particularly in Government and Transportation is also contributing towards the expansion of video surveillance storage market in India.
According to 6Wresearch, India Video Surveillance Storage Market is forecast to grow at a CAGR of 10% from 2017 to 2023. In India's video surveillance storage market, Network Attached Storage (NAS) segment gained the maximum revenue share in 2016, followed by Direct Attached Storage (DAS) and Storage Area Network (SAN) segments. Additionally, Government & Transportation became the key driving vertical for the India Video Surveillance Storage market followed by Commercial offices IT/ITeS and BFSI.
According to Prijo Samuel, Senior Research Analyst, Research and Consulting, 6Wresearch, "With the growing adoption of video surveillance systems, especially IP video surveillance, India is witnessing increased demand for video surveillance storage solutions. A rising number of installations for video surveillance systems across various cities are generating huge video data within all verticals, which is further propelling video surveillance storage market in the country.
In terms of deployment of video surveillance storage, cloud-based storage segment led the overall market owing to the increasing use of wireless technology, ease of accessibility and reduced upfront cost on software & hardware; Hybrid cloud segment remained one of the prime factors for the growth of cloud storage market," Prijo further quoted.
According to Nikunj Shrivastava, Research Associate, Research and Consulting, 6Wresearch, "The Government & Transportation and Commercial Office are the key contributing verticals leading to the growth of video surveillance storage market. Rising security concerns of valuable assets and other private and public properties such as airports, places of worship, and historical monuments, inter-city surveillance by the traffic department are driving the growth of the market. Further, the rising adoption of video surveillance systems in public and school buses are also expanding the market of video surveillance storage in the country.
The Northern and Western regions of India are contributing majorly towards the growth of the market. Tier-I cities including Delhi/ NCR, Mumbai, Ahmedabad, Pune, Hyderabad, Bangalore, and Chennai, were the most prominent cities for video surveillance storage systems," He further added.
Major companies for India Video Surveillance Storage market are Dell EMC, NetApp, Quantum Corporation, Seagate Technology, and Huawei Technology.
"India Video Surveillance Storage Market (2017-2023F)" provides in-depth analysis with 40 figures and 9 tables covered in 100 pages. The report estimates and forecast the overall India Video Surveillance Storage market by revenues, Technology, Deployment, Regions, and Verticals such as retail, BFSI, education, commercial offices, logistics, government & transportation, and hospitality and healthcare. The report also offers insights on competitive landscape, companies benchmarking, company profiles, market drivers, and restraints.