Asia-Pacific Video Surveillance Storage Market Size & Share Analysis - Growth Trends And Forecasts (2024 - 2029)

Asia-Pacific Video Surveillance Storage Market Analysis

The Asia-Pacific Video Surveillance Storage Market size is estimated at USD 3.95 billion in 2024, and is expected to reach USD 5.44 billion by 2029, growing at a CAGR of 6.61% during the forecast period (2024-2029).

• Surveillance cameras are now considered a crucial necessity in modern society. The volume of data produced by video surveillance has significantly increased in recent years. To gather more comprehensive data, high-definition cameras necessitate greater bandwidth, faster writing speeds, and expanded storage capacity, thus increasing the demand for the video surveillance storage market in Asia-Pacific.
• Thanks to substantial investments in infrastructure and smart city initiatives across various countries, the Asia-Pacific region has become a key market for video surveillance adoption. These market trends align with the increasing demand for video surveillance storage market in the region.
• The surveillance industry has struggled with managing the growth in high-resolution video content, contending with massive file sizes, regulatory and retention requirements, and business and analytics applications tied to surveillance. Such instances are expected to further promote the adoption of video surveillance storage solutions and requirements in the region.
• Moreover, governments in the region are focusing on deploying surveillance cameras to prevent crime and enhance the region's security, thus driving market growth. In July 2024, the Government of Visakhapatnam, India, decided to implement closed-circuit television (CCTV) cameras in all tehsildar offices. The government has instructed district collectors to enforce strict measures to safeguard documents, especially those pertaining to the conversion of titles within the past year.
• Similarly, in January 2024, the Hong Kong administration announced its proposal to set up 2,000 CCTV cameras in public areas to combat crime. Collaboration with the Office of the Privacy Commissioner will be sought to safeguard personal data. The Deputy Chief Secretary stated that a new set of surveillance cameras will be placed in densely populated areas or high-crime locations. This measure is intended to bolster district management by implementing this initiative.
• The vast accumulation and retention of personal information via video surveillance systems give rise to worries regarding data privacy and security. Furthermore, implementing advanced technologies like facial recognition brings up ethical issues concerning surveillance and the possibility of abuse, thus hindering market growth.
• Moreover, the continuous conflict between Russia and Ukraine has caused disturbances in the worldwide supply chain, specifically impacting the accessibility and pricing of electronic components and raw materials utilized in the video surveillance storage market. Consequently, this results in production delays and higher expenses for producers. The escalating inflation rates have further raised the prices of products and services, including video surveillance storage. These increased costs are diminishing the buying power of consumers and businesses, ultimately hindering the expansion of the market.

Asia-Pacific Video Surveillance Storage Market Trends

Transportation and Logistics Segmented Expected to Hold Significant Market Share

Asia-Pacific Video Surveillance Storage Industry Segmentation

Video surveillance storage is a surveillance drive specially designed for recording surveillance video on security systems around the clock.

The study tracks the revenue accrued through the sale of video surveillance storage products and services by various players in the Asia-Pacific market. The study also tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, which supports the market estimations and growth rates over the forecast period. The study further analyses the overall impact of COVID-19 aftereffects and other macroeconomic factors on the market. The report’s scope encompasses market sizing and forecasts for the various market segments.

The Asia-Pacific video surveillance storage market is segmented by product type (storage area network (SAN), network attached storage (NAS), direct attached storage (DAS), video recorders, and services), deployment (on-premises and cloud), by storage media (solid state drives (SSDs) and hard disk drives (HDDs)), and end-user vertical (retail, BFSI, government and defense, home security, healthcare, media & entertainment, transportation and logistics, education, and others). The market sizes and forecasts regarding value (USD) for the segments mentioned above are provided.