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Pune, Jan. 30, 2023 (GLOBE NEWSWIRE) — Maximize Market research a leading Information Technology & Telecommunication research firm has published a market intelligence report on the Video Surveillance Storage Market, which is a combination of primary and secondary data. As per the report, the total market opportunity by 2029 is expected to be USD 12.92 Bn with North America holding the largest market share globally. The total market was valued at USD 8.04 Bn in 2021 and it is expected to grow at a CAGR of 6.1 percent during the forecast period.
Video Surveillance Storage Market Report Scope and Research Methodology
The main objective of the report is to analyze and forecast the global market size. A detailed analysis of the opportunities, drivers, challenges and restraints is also included in the report. An in-depth qualitative and quantitative analysis of the market helps in determining the potential of the Video Surveillance Storage Market. The research has been done by dividing the market into three major segments: storage media, deployment and application. These three major segments of the Video Surveillance Storage Market were further divided into sub-segments. The report includes the factors that affect the business positively or negatively and also gives a clear futuristic view of the industry to the decision-makers. For competitive analysis, it includes strategic profiling of top players in the market, a wide-ranging analysis of their core competencies and their strategies, agreements, growths, joint ventures, partnerships, and acquisitions.
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The bottom-up approach was used to estimate the Video Surveillance Storage Market size. Primary and secondary research methods were used to collect the data for the market report. Data gathered by using both these methods were combined to make the report authentic. Primary interviews were conducted with the stakeholders in the industry including manufacturers, consultants and end-users. Secondary sources include annual reports of top players, paid sources and manufacturing associations of industrial robotics. Porter’s five forces analysis was used during the research to provide the ability of buyers and suppliers to make profit-oriented strategic decisions and build their buyer-supplier network. SWOT analysis was used to provide the strengths and weaknesses of the Video Surveillance Storage Market size.
Video Surveillance Storage Market Overview
A system that collects information obtained from surveillance cameras is called video surveillance storage. Video surveillance plays an important role in security because the data which is obtained in real time can be retained for analysis when necessary. Video surveillance systems are used for stadium security, hospital and patient security, airport security, police security and campus security. The Video Surveillance Storage Market is being driven by rising security threats and the increasing demand for cost-efficient and time-saving video surveillance storage.
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Video Surveillance Storage Market Dynamics
The demand for video surveillance storage devices is mainly increasing due to the increasing prevalence of security threats. The major factor driving the growth of the market is the increasing demand for time-saving and efficient surveillance systems at a reasonable cost. During the forecast period, the Video Surveillance Storage Market growth is expected to be driven by the increasing investment in security protection against terrorist attacks, increasing attention from artificial intelligence to video surveillance systems, increasing trends in global smart city projects and growing trends in IoT solutions. The factors that are expected to restrain market growth are the lack of availability of storage systems and the cost of expanding bandwidth.
Video Surveillance Storage Market Regional Insights
The Video Surveillance Storage Market in the North America region is expected to dominate the global market by holding the largest market share during the forecast period. The market in the region is majorly growing due to the rising digitalization across industry verticals and the high adoption of cloud technologies.
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During the forecast period, the Asia Pacific region is expected to grow at a fast growth rate in the global Video Surveillance Storage Market. The market growth is majorly attributed to the fast acceptance of video surveillance storage systems among businesses and individual users.
|Market Size in 2021||USD 12.92 Bn.|
|Market Size in 2029||USD 8.04 Bn.|
|Number of Pages||280|
|No. of Tables||115|
|No. of Charts and Figures||110|
|Segment Covered||Storage Media, Deployment and Application|
|Regional Scope||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Report Coverage||Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.|
Video Surveillance Storage Market Segmentation
By Storage Media
- Managed Service
- Consulting Service
- Training & Certification
Video Surveillance Storage Market Key Competitors include:
- Optiva, Inc. (Canada)
- Genetec (Canada)
- Avigilon Corporation (Canada)
- March Networks (Canada)
- Alcatel-Lucent SA (France)
- Amdocs, Inc. (US)
- Dell (US)
- IBM Corporation (US)
- BCDVideo (US)
- Cisco Systems, Inc (US)
- honeyell International, Inc. (US)
- Pelco Corporations (US)
- Rasilient Systems Inc (US)
- Seagate Technology Holdings plc (US)
- OpenEye (US)
- Hikvision (US)
- ExacqVision (US)
- Verkada (US)
- Eagle Eye Networks, Inc (US)
- Hitachi Ltd (Japan)
- CPPLUS International. (India)
- Sterlite Technologies Limited (India)
- Huawei Technologies Co., Ltd. (China)
- SAP SE (Germany)
- Hanwha (South Korea)
- VIVOTEK INC. (Taiwan)
Key questions answered in the Video Surveillance Storage Market are:
- What is Video Surveillance Storage?
- What are the global trends in the Video Surveillance Storage Market?
- What are the upcoming industry applications and trends for the Video Surveillance Storage Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Video Surveillance Storage Market?
- What growth strategies are the players considering to increase their presence in Video Surveillance Storage Market?
- What are the major challenges that the Video Surveillance Storage Market could face in the future?
- Who held the largest market share in Video Surveillance Storage Market?
- Which is the fastest growing segment in the Video Surveillance Storage Market?
- What are the prospects for Video Surveillance Storage Market growth in developing countries?
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Storage Media, Deployment, Application and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading Information Technology & Telecommunication research firm, has also published the following reports:
Wireless Security Camera Market – The market size is expected to reach USD 13.47 billion by 2029 at a CAGR of 12.5 percent during the forecast period. The market is expected to be driven by the adoption of smart gadgets such as locks, lights, and cameras by people, which helps them improve security and general convenience.
Smart Home Devices Market – The market size is expected to reach USD 205.85 billion by 2029 at a CAGR of 10.4 percent during the forecast period. The market is expected to be driven by the increasing importance of home monitoring in remote locations, as well as growing concern about safety, security and convenience among the general population.
Commercial Aircraft Video Surveillance Systems Market – The market size is expected to reach USD 225 million by 2029 at a CAGR of 3.80 percent during the forecast period. The market is expected to be driven by the increasing demand for monitoring to improve flight management.
Security and Surveillance Equipment Market – The market size is expected to reach USD 534 billion by 2029 at a CAGR of 9.4 percent during the forecast period. The market is expected to be driven by strict regulations of the governments of various countries for the installation of security and surveillance equipment at public sectors such as airports, malls, entertainment hubs, etc., and residential buildings and societies.
Hyper-Converged Surveillance Platforms Market – The market size is expected to reach USD 44.09 billion by 2029 at a CAGR of 29.11 percent during the forecast period. The market is expected to be driven by the rising adoption of smart buildings and smart homes.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
Zetrix and Beitou Launch Digital ID & Driver’s Licence Services on Blockchain
Service is the first global W3C-compliant Verifiable Credential implementation and will be initially used by China domestic users travelling abroad
KUALA LUMPUR, Malaysia, Dec. 10, 2023 /PRNewswire/ — Zetrix, a layer 1 public blockchain platform, today announced the launch of its groundbreaking Digital Credentials platform, ushering in a new era of secure, convenient, and interoperable credentials verification. This innovative solution addresses the challenges of traditional paper-based credentials, offering a range of benefits that will transform the way individuals, organisations, and governments interact in the digital realm.
The launch marks the commercialisation of the collaboration announced on 18th September 2023 between Malaysia’s MY E.G. Services Berhad and China’s state-owned Guangxi Beitou IT Innovation Technology Investment Group Co Ltd (“Beitou”), the IT arm of Guangxi Beibu Gulf Investment Group listed as one of China’s Top 500 enterprises.
The launch was held on 9th December 2023 at Ritz-Carlton Hotel Kuala Lumpur and officiated by Malaysia’s Deputy Prime Minister, Datuk Seri Dr Ahmad Zahid Hamidi.
The service initially will be offered to domestic China nationals who can choose to digitise their National ID or driving licence as a Verifiable Credential (“VC”) on Xinghuo International, the international gateway for China’s national Public Blockchain. Through Zetrix, which is integrated with Xinghuo, the National ID or driving licence VC can then be presented abroad to be authenticated by any verifier wishing to verify the relevant identity or driving licence data according to their needs.
Beitou IT’s integration to China’s nationwide police and transport department databases ensures seamless authentication and digitisation of the documents into VCs.
Furthermore, in view of the immutability of blockchain, verifiers will have the assurance of knowing that the VCs and all data contained in the document are true and genuine.
It is foreseen that besides IDs and driving licences, other important credential documents held by individuals or businesses would also be digitised as VCs in the near future.
Enhancing Security and Combating Breach of Data
The use of digital credentials, with the initial pilot of driving licences based on blockchain technology will significantly enhance security and combat counterfeiting of electronic licences. By leveraging on the Self Sovereign Identity (“SSI”) framework, Zetrix’s Digital Credentials platform enables the real time verification of documents digitised as Verifiable Credentials, providing a robust defence against fraud and forgery.
“In addition to ensuring authenticity, documents digitised as Verifiable Credentials offer the ability for selective disclosure or confirmation of data. For instance, document holders can have their age or their home location verified without actually having to provide their date of birth or full address. This is extremely useful as it protects raw user data from being shared unless absolutely necessary, thus reducing the possibilities of cyber attacks,” explained TS Wong, founder of Zetrix.
Lai Shuiping, Chairman of the Board of Guangxi Beitou IT Innovation Investment Group Co.,Ltd, Lai Shuiping, said: “The China-ASEAN digital driving license cross-border verification platform is jointly developed by Beitou IT and MYEG. The platform will continue to expand into providing more convenient services for communication between citizens of China and ASEAN countries, and promote economic development across the entire region.”
“In future, Beitou IT will further strengthen cooperation with Malaysian enterprises in the field of transportation digitalisation, and promote continuous improvement of intelligent transportation in ASEAN countries,” Lai added.
Multi-Chain e-Wallet for International Travelers
Zetrix’s Digital Credentials platform also leverages a multi-chain e-wallet that is able to store Zetrix’s native tokens as well as VCs from Xinghuo International and Ethereum. This feature facilitates seamless cross chain transactions and simplifies identity and document verification across multiple scenarios, enhancing the experience for travelling individuals.
The digital credentials service exemplifies the World Wide Web Consortium (W3C) standards of Verifiable Credentials and Decentralised Identifiers as Self-Sovereign Identity. This will be a key catalyst to enable a greater interoperability across blockchains and decentralised applications.
Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability. Zetrix’s cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a global blockchain-based economy. Developed by MY E.G. Services Bhd, the cross-border and cross-chain integration with China enables Zetrix to serve as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as Blockchain-based Identifiers (BID) and Verifiable Credentials (VC).
About Guangxi Beitou IT Innovation Technology Investment Group Co Ltd
Guangxi Beitou IT Innovation Investment Group Co. (Beitou IT) stands as a wholly owned subsidiary of Beibu Gulf Investment Group (Beitou Group), boasting total assets exceeding 300 billion RMB. Established in October 2020 with a registered capital of 1 billion RMB, Beitou IT has emerged as the foremost digital company in Southwest China. Beitou IT strategically concentrates on four primary business domains: ITAI project implementation and operation, IT product R&D, integration and sales, and the development of New Infrastructure. Over the past three years, Beitou IT has successfully undertaken numerous government and enterprise-level projects encompassing digital government, digital transportation, digital port, smart court, and enterprise digitalization.
With a workforce exceeding 400 employees, Beitou IT houses a team of hardware and software engineers, where over 50% hold master’s degrees from esteemed universities. The team includes 2 State Council-subsidized experts, numerous district industrial authorized experts, and a Fin-Tech expert from the ‘Hong Kong, Macao, and Taiwan Talent Project.’ This robust talent pool positions Beitou IT as one of the rare state-owned digital companies capable of independent R&D.
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Sustainability Empowerment, Brand Upgrade VIVOTEK among Taiwan’s Best Global Brands
TAIPEI, Dec. 10, 2023 /PRNewswire/ — VIVOTEK (3454TW), the global leading IP surveillance solution provider, has been selected to the Best Taiwan Global Brands, and consistently earned market recognition. The three development engines of operational excellence, comprehensive brand management, and active promotion of sustainable actions, have elevated the brand above competition to display outstanding brand value.
Best Taiwan Global Brands is organized by the Industrial Development Bureau, MOEA, and valuation is carried out by Interbrand, a global authority on brand valuation; this year, ESG was also included as key standards of valuation. In 2022, VIVOTEK set a record high in revenue with annual consolidated revenue reaching USD $332 million, achieving a growth rate of 82% compared to the same period in 2021. In addition to displaying operational strengths, VIVOTEK also advocated several sustainable actions, while also encouraging its employees to practice environmental protection both at work and in daily life, further earning the approval of the organizer.
“Being selected to Taiwan’s Best Global Brands is a recognition of the company’s strengths,” pointed out Allen Hsieh, VIVOTEK Spokesperson and Director of Global Marketing Division. “Brand power is not just manifested through the technical aspect of products, but also through the CSR aspect. By embedding ESG into our brand’s DNA, we not only adopt sustainable thinking, but also create a differentiated brand image. In the future, VIVOTEK will continue to empower our brand through ESG, while also constantly promoting smart and green innovations of security and protection technology, steering the brand towards greater value of sustainable development.”
Evolution of the brand is the firm starting point of VIVOTEK’s brand management. Through redefining identity and slogan, “We Get The Picture,” VIVOTEK breaks the limitations of the industry to redefine its brand value, establishing its unique status within the security and protection industry. By grasping the opportunity of technical innovation, VIVOTEK combines its hardware advantage and software capability to expand its deployment of security and protection solutions, becoming a leading solution provider, while also actively exploring the market of AI security and protection, such as: successfully launching innovative VORTEX smart cloud surveillance service that focuses on customer needs and accumulating many successful cases around the world. Recently, VIVOTEK was ranked number 12 among a&s Security 50, reaching the highest spot ever, and this is the very manifestation of the brand’s continued improvement of brand competitiveness.
VIVOTEK is a leading surveillance brand that strives for sustainability and began deploying ESG strategy many years ago. Key measures include voluntary publication of sustainability report for six consecutive years, participation in the RE100 global corporate renewable energy initiative, and promotion of renewable energy applications. More recently, VIVOTEK has incorporated the principle of sustainability into its product box design, reutilizing packaging of its products to create eco-friendly smartphone holders. This marks the first time the brand’s innovative sustainability principle has been extended through its products. VIVOTEK also plans to launch a product carbon footprint project in 2024 to facilitate formulation of comprehensive carbon reduction strategy, further strengthening brand development and upgrading sustainable operations.
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Belgian Commitment to Partnership Supports a New Frontier of Europe-US Space Research
BRUSSELS, Dec. 10, 2023 /PRNewswire/ — Belgian Prime Minister Alexander De Croo has travelled to Houston, United States, to meet Raphaël Liégeois, the Belgian career astronaut selected as part of the European Space Agency (ESA) astronaut class of 2022. De Croo’s visit coincides with the ESA cohort’s familiarisation trip to NASA’s Johnson Space Centre, which is the precursor to a further two years of training, delivered in Houston, to prepare the astronauts for their respective missions on the International Space Station. The visit signals a new phase of the long-standing collaboration between Europe and the United States on space research and exemplifies Belgium’s commitment to partnerships in facing global challenges.
Belgium’s expertise in aerospace, and in science more generally, is internationally recognised – in terms of both training and industry. Belgium is a founding member of the ESA and its fifth-largest funder. The country’s support of the ESA shows its commitment to shaping the development of Europe’s space capability and ensuring that investment in space continues to deliver benefits to the citizens of Europe and the world.
“For Belgians, the sky isn’t the limit, the universe is,” said De Croo. “Today, we are very proud to see Raphaël take this important step in his career as an astronaut. He will be an important role model for many generations of STEM students to come. Space research and innovation hold particular importance for Belgium; they are powerful economic drivers which foster the growth of high-tech industries and create jobs – as evidenced by the number of Belgian companies on the cutting edge of aeronautics.”
The 17 members of the ESA astronaut class of 2022 were selected from a pool of over 23,000 applicants. The process, designed to bring together the finest scientific minds that Europe has to offer, took place over a period lasting 18 months.
The selection of Raphaël Liégeois is testament to Belgium’s focus on embracing openness, driven by innovation, partnerships, and diversity, to create solutions that drive progress for all.
Located in the heart of Europe, Belgium is one of the most open economies in the world, counting 11.5 million people with a reputation for innovation, hard work, partnership, and multilingualism. Strategically located between Germany, the Netherlands, France, and Luxembourg, and only a stone’s throw from the UK, it lies at the centre of the richest and most densely populated area in Europe. A member of the European Union, Belgium enjoys full access to the world’s most advanced single market and customs zone which ensures extensive frictionless trade.
Belgium boasts a highly developed transport infrastructure, including the second largest seaport in Europe (Antwerp). Belgium is home to world-leading research and innovation facilities, multinational corporations, and artisanal businesses supported by the investor-centric approach of public services.
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- Zetrix and Beitou Launch Digital ID & Driver’s Licence Services on Blockchain
- Sustainability Empowerment, Brand Upgrade VIVOTEK among Taiwan’s Best Global Brands
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