Europe Video Surveillance Storage Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.37 Billion |
| Market Size (2029) | USD 3.18 Billion |
| CAGR (2024 - 2029) | 6.03 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Video Surveillance Storage Market Analysis
The Europe Video Surveillance Storage Market size is estimated at USD 2.37 billion in 2024, and is expected to reach USD 3.18 billion by 2029, growing at a CAGR of 6.03% during the forecast period (2024-2029).
- Video surveillance forms an integral part of a business’ security system. It serves both as a crime deterrent and a convenient method of documentation. A video surveillance storage solution helps the users view the live (or recorded) video feed.
- The need for video surveillance for crime prevention and public security and safety continues to grow across Europe. For instance, as reported by the Italian Ministry of Justice, in 2023, approximately 33,063 individuals were incarcerated for property crime offenses in Italy, whereas 25,055 individuals were imprisoned for crimes against individuals.
- The region has seen a rise in the number of commercial establishments, including retail stores, offices, shopping centers, and more, due to the increasing urbanization. With over 70% of the population in Italy residing in urban areas, the growing urban population has led to an increased demand for advanced surveillance systems, thus creating a conducive environment for the growth of video surveillance storage in the region.
- With the number of video surveillance systems being deployed growing rapidly, the quality of the images they produce is also becoming more refined and detailed. Such factors are driving an increased need for video surveillance storage solutions.
- However, the high costs associated with video surveillance storage solutions might offer some challenges to market growth. For instance, costs incurred from licensed and unlicensed software, such as databases, monitoring tools, network utilities, and anti-virus, can cost businesses millions of dollars annually.
- 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 both consumers and businesses, ultimately hindering the expansion of the market.
Europe Video Surveillance Storage Market Trends
Solid State Drives (SSDs) Segment is Expected to Grow at a Fast Rate
- The growing adoption of surveillance cameras in the home security, healthcare, transportation & logistics, retail, and BFSI sectors of the region is paving the way for faster development of the SSDs segment.
- As technology continues to advance, security monitoring systems are becoming more intelligent, high-definition, and interconnected. The transition from traditional analog to digital monitoring systems is clear, integrating key features like high-definition image capture, video data analysis, and intelligent identification technology. These developments enhance the precision and ease of security monitoring.
- Within this environment, dependable data storage options, especially in relation to CCTV camera monitoring, are essential. SSDs designed for surveillance purposes are key in guaranteeing smooth and safe storage of CCTV camera data. These tailored storage solutions enhance the effectiveness of security surveillance systems by enabling fast retrieval of high-quality footage and supporting sophisticated data analysis.
- SSDs possess characteristics that render them more suitable for use in vehicles compared to other types of drives, such as hard disk drives (HDDs). They provide low power consumption, which is crucial for maintaining optimal vehicle performance. Furthermore, SSDs lack any moving components, making them less susceptible to failure, especially in vehicles where shock and vibration are prevalent.
- The need for reliable and efficient storage options is increasing due to the rise of autonomous vehicles and electric cars. It is crucial to have fast and efficient SSDs in order to handle the large amounts of data collected by these vehicles from various sources, such as sensors and cameras, which need to be processed and stored instantly.
- Thus, the growing sale of automotive vehicles in the region will support the market growth. For instance, the European Union car market experienced a significant growth of 13.9% in 2023 compared to the previous year, resulting in a total sales volume of 10.5 million units for the entire year. This data was reported by the European Automobile Manufacturers' Association (ACEA).
- Notably, battery-electric cars emerged as the third most popular choice among buyers in 2023. In December alone, their market share skyrocketed to 18.5%, contributing to an overall share of 14.6% for the entire year. This surpassed the steady market share of diesel cars, which remained at 13.6%. Petrol cars maintained their dominance with a market share of 35.3%, while hybrid-electric cars secured the second position with a commanding market share of 25.8%.
Germany is Expected to Hold Significant Market Share
- The demand for video surveillance storage in Germany is steadily increasing due to the rise in crime threats in public areas and the efforts made by private companies to enhance the security and welfare of their employees.
- Moreover, the persistent risks of criminal activities and theft in commercial settings further contribute to the adoption of video surveillance cameras, thus creating high demand for video surveillance storage market in the country. According to the Bundeskriminalamt, in 2023, the police recorded roughly 7,000 criminal offenses per 100,000 inhabitants, rise from 6,762 criminal offenses in 2022.
- Moreover, German law enforcement authorities are utilizing advanced cameras and real-time facial recognition technology to apprehend individuals under suspicion, prompting legal concerns following the implementation of the European Union's AI Act. This technology is currently being utilized by police forces in Saxony and Berlin, enabling the processing of facial images.
- The utilization of CCTV cameras in Germany has risen due to their installation in high-risk, bustling, or isolated public areas like town centers, stores, train stations, and parking lots. Video monitoring methods are implemented in various public and private domains. Apart from municipal councils, law enforcement agencies, and security firms, privately-owned CCTV cameras are frequently employed by commercial enterprises and residential dwellings, thus supporting the market growth.
- Furthermore, the German government and local authorities are dedicated to fostering innovative and advanced urban projects and enhancing public infrastructure, which creates demand for video survelliance storage market. For instance, in August 2023 when the Federal Ministry for Digital Affairs and Transport (BMDV) disclosed that the German cabinet had earmarked EUR 12.5 billion for railway projects from the Climate and Transformation Fund (KTF), emphasizing the importance of eco-friendly transportation.
- Video surveillance technology plays a pivotal role in these efforts by bolstering public safety, traffic control, and city planning. Consequently, there is an increasing need for video surveillance equipment, storage and services to facilitate these initiatives.
Europe Video Surveillance Storage Industry Overview
The European video surveillance storage market is semi-consolidated, with less number of players occupying a moderate level of market share. They use various strategies, such as new product launches, joint ventures, expansions, partnerships, and acquisitions, to increase their footprints in this market, which is leading to high rivalry. Some of the key players include Hangzhou Hikvision Digital Technology Co. Ltd, Dell Technologies Inc., Huawei Technologies Co. Ltd, Rasilient Systems Inc., and AXIS Communications, among others. Some of the recent developments in the market include:
- In May 2024, Western Digital introduced its Purple hard drives. Specifically designed for surveillance purposes, the WDxxPURX drives are tailored to meet the demands of continuous 24x7 operation, much like the WD-AV GP lineup.
- In April 2024, Axis Communications introduced a novel cloud-based platform called Axis Cloud Connect, aimed at offering clients enhanced security solutions that are both flexible and scalable.
Europe Video Surveillance Storage Market Leaders
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Hangzhou Hikvision Digital Technology Co. Ltd.
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Dell Technologies Inc
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Huawei Technologies Co., Ltd
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Rasilient Systems Inc.
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AXIS Communications
*Disclaimer: Major Players sorted in no particular order
Europe Video Surveillance Storage Market News
- March 2024: ADATA Technology Co. Ltd revealed its plans to present its latest BiCS5 3D(e)TLC storage solutions, high DWPD SSDs, and high-performance/low-power industrial-grade ECC memory modules such as U-DIMM, SO-DIMM, and R-DIMM. These products come with a wide operating temperature range, anti-sulfuration properties, enhanced durability, improved data security measures, moisture-proofing capabilities, and anti-fouling technology.
- December 2023: Seagate Technology Holdings PLC introduced the latest addition to its product line, the Seagate SkyHawk AI 24 TB hard disk drive (HDD) designed specifically for video and imaging applications (VIA). This new release came after the successful launch of the Seagate Exos X24 24 TB conventional magnetic recording (CMR) hard drive, further catering to the growing demand for mass data storage in the edge security sector.
Europe Video Surveillance Storage Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness- Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Impact of COVID-19 Aftereffects and Other Macroeconomic Factors on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 The Rising Installation of Video Surveillance Due to Growing Security Concerns
5.1.2 Rising Adoption of Emerging Technologies Such As AI Edge Computing, Data Analytics, and Cloud
5.2 Market Challenges
5.2.1 Very High Costs Associated With the Initial Investment and Maintenance
5.2.2 Insufficient Accessibility of Storage Systems and the Expenses Associated With Augmenting Bandwidth
6. MARKET SEGMENTATION
6.1 By Product Type
6.1.1 Storage Area Network (SAN)
6.1.2 Network Attached Storage (NAS)
6.1.3 Direct Attached Storage (DAS)
6.1.4 Video Recorders
6.1.5 Services
6.2 By Deployment
6.2.1 On-Premises
6.2.2 Cloud
6.3 By Storage Media
6.3.1 Solid State Drives (SSDs)
6.3.2 Hard Disk Drives (HDDs)
6.4 By End-user Vertical
6.4.1 Retail
6.4.2 BFSI
6.4.3 Government and Defense
6.4.4 Home Security
6.4.5 Healthcare
6.4.6 Media & Entertainment
6.4.7 Transportation and Logistics
6.4.8 Education
6.4.9 Others
6.5 By Country
6.5.1 United Kingdom
6.5.2 Germany
6.5.3 France
6.5.4 Italy
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Hangzhou Hikvision Digital Technology Co. Ltd
7.1.2 Dell Technologies Inc.
7.1.3 Huawei Technologies Co. Ltd
7.1.4 Seagate Technology LLC
7.1.5 D-Link
7.1.6 AXIS Communications
7.1.7 Wester Digital
7.1.8 Dahua Technology Co. Ltd
7.1.9 Rasilient Systems Inc.
7.1.10 Vivotek
7.1.11 CP PLUS
7.1.12 Thomas Krenn
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OUTLOOK OF THE MARKET
10. ABOUT US
Europe 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 European 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 Europe 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), by deployment (on-premises and cloud), by storage media (solid state drives (SSDs) and hard disk drives (HDDs)), by end-user vertical (retail, BFSI, government and defense, home security, healthcare, media & entertainment, transportation and logistics, education, and others), and by country (United Kingdom, Germany, France, Italy, and Rest of Europe). The market sizes and forecasts are provided in terms of value (USD) for the above-mentioned segments.
| By Product Type | |
| Storage Area Network (SAN) | |
| Network Attached Storage (NAS) | |
| Direct Attached Storage (DAS) | |
| Video Recorders | |
| Services |
| By Deployment | |
| On-Premises | |
| Cloud |
| By Storage Media | |
| Solid State Drives (SSDs) | |
| Hard Disk Drives (HDDs) |
| By End-user Vertical | |
| Retail | |
| BFSI | |
| Government and Defense | |
| Home Security | |
| Healthcare | |
| Media & Entertainment | |
| Transportation and Logistics | |
| Education | |
| Others |
| By Country | |
| United Kingdom | |
| Germany | |
| France | |
| Italy |
Europe Video Surveillance Storage Market Research FAQs
How big is the Europe Video Surveillance Storage Market?
The Europe Video Surveillance Storage Market size is expected to reach USD 2.37 billion in 2024 and grow at a CAGR of 6.03% to reach USD 3.18 billion by 2029.
What is the current Europe Video Surveillance Storage Market size?
In 2024, the Europe Video Surveillance Storage Market size is expected to reach USD 2.37 billion.
Who are the key players in Europe Video Surveillance Storage Market?
Hangzhou Hikvision Digital Technology Co. Ltd., Dell Technologies Inc, Huawei Technologies Co., Ltd, Rasilient Systems Inc. and AXIS Communications are the major companies operating in the Europe Video Surveillance Storage Market.
What years does this Europe Video Surveillance Storage Market cover, and what was the market size in 2023?
In 2023, the Europe Video Surveillance Storage Market size was estimated at USD 2.23 billion. The report covers the Europe Video Surveillance Storage Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Video Surveillance Storage Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Video Surveillance Storage Industry Report
Statistics for the 2024 Europe Video Surveillance Storage market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Video Surveillance Storage analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
