Posted On: 2020-07-30
India Video Surveillance Storage market was dominated by network attached storage in 2019 – 6Wresearch
The need for security is not limited to government institutions and large companies anymore. Educational institutes, small & medium companies, hospitals also require security solutions in today’s time. Construction plans such as smart city projects and UDAN Scheme along with state government initiatives, rising awareness would generate prospects for deploying video surveillance systems over the coming years which would fuel the growth of video surveillance storage systems in the country. Additionally, infrastructural development activities such as residential buildings, malls and multimodal logistics park along with the strengthening of public service sectors such as tourism and healthcare would open up new avenues for the application of video surveillance solutions in the country which would further require data. Such factors would act as a catalyst behind the increasing demand for video surveillance storage solutions.
According to 6Wresearch, India Video Surveillance Storage Market size is projected to grow at a CAGR of 9.4% during 2020-26F. Construction of the state universities, healthcare projects in various cities, initiatives of the state police department and rising number of residential buildings under construction and planning phase would create opportunities for new installations of video surveillance systems during the forecast period in India, which would lead to increasing demand for video surveillance storage systems. However, halt in construction activities due to COVID-19 would have a negative impact on the demand for surveillance solutions which would further have a negative impact on the demand for video surveillance storage solutions.
According to Akash Sharma, Senior Research Analyst, Research and Consulting, 6Wresearch, “By verticals, the government & transportation and commercial offices segments held the maximum revenue share in the overall video surveillance storage market in 2019. The rapidly rising number of installations of video surveillance solutions in newly constructed government institutions and smart city infrastructure is acting as a catalyst for increasing the demand for video surveillance storage systems. Further, increasing investment in the healthcare sector, such as the construction of various hospitals under AYUSH Scheme would further lead to an increase in demand for video surveillance storage systems for the storage of data.”
According to Sarthak Bansal, Research Analyst, Research and Consulting, 6Wresearch, “By deployment, on-cloud is expected to acquire the maximum revenue share in the video surveillance storage market during the forecast period due to increasing deployment of IP cameras and data sets requiring more storage, on-cloud video surveillance storage solutions acts as a cost-effective solution, since, they can store more data at a low cost.”
Some of the major companies in India video surveillance storage market include Dell EMC, NetApp, HP and Hitachi.
"India Video Surveillance Storage market (2020-2026)" provides an in-depth analysis with 35 figures and 6 tables covered in 88 pages. The report estimates and forecasts the overall India video surveillance storage market by storage technology, deployment, verticals and regions. The report provides an unbiased and detailed analysis of the India video surveillance storage market on-going trends, outlook, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.