Middle East And Africa Video Surveillance Storage Market Size & Share Analysis - Growth Trends And Forecasts (2024 - 2029)

Middle East And Africa Video Surveillance Storage Market Analysis

The Middle East And Africa Video Surveillance Storage Market size is estimated at USD 122.40 million in 2024, and is expected to reach USD 160.88 million by 2029, growing at a CAGR of 5.62% during the forecast period (2024-2029).

• A video surveillance system uses security cameras to observe and document events in a designated area or space to ensure security, safety, or supervision. Video surveillance storage refers to collecting data from surveillance cameras, which can be obtained in real time and preserved for analysis if necessary. Video surveillance is a crucial security element, as it allows for maintaining visual information for future reference if required.
• The Middle East and African video surveillance storage market is anticipated to experience consistent growth during the forecast period due to mandatory government regulations that require businesses to install video surveillance systems in shops and public areas in various countries. The extensive use of surveillance systems has resulted in a significant demand for storage solutions to manage the increasing volume of video data.
• Saudi Arabia sanctioned legislation about installing surveillance cameras. The regulations mandate that public areas of hotels and residential buildings, sports clubs and stadiums, and mosques, among other structures, must be equipped with such systems. This is expected to stimulate the demand for video surveillance, thereby driving the growth of the storage devices market.
• The expansion of construction endeavors in various commercial and residential domains, encompassing novel undertakings for hotels, resorts, entertainment establishments, and shopping centers, coupled with the swift investments in the retail and construction industries, is anticipated to augment the development of the Middle East and African video surveillance storage market during the forecast period.
• Moreover, the governments of various nations, including the United Arab Emirates, Turkey, and Saudi Arabia, prioritize enhancing their security systems. This involves a need for extended video retention periods, reduced downtime, and minimized loss of video data, which further supports the market growth.
• The market is anticipated to encounter obstacles owing to the exorbitant expenses linked with augmenting bandwidth and a requirement for greater comprehension of storage systems and technologies. There is a need for heightened awareness about the benefits of video surveillance storage, and sluggish technological advancements could enhance the market's progress.
• 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.

Middle East And Africa Video Surveillance Storage Market Trends

Solid State Drives (SSDs) is Expected to Grow at a Faster Rate

Middle East And Africa 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 Middle East and African 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 Middle East and African 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, and education), and by country (United Arab Emirates, Saudi Arabia, South Africa and Rest of Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for the above-mentioned segments.