Network Video Recorder (NVR) Market to Top US$ 11.2 Bn Amid Growing Adoption of IP Cameras

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Fact.MR latest report offers an unbiased analysis of the global network video recorder (NVR) market for the forecast period of 2022 to 2032. The study also provides in-depth insights into key trends and factors influencing sales through segmentation including channel type, technology, hard drive, camera compatibility, end-use vertical, and regions.

Fact.MR – A Market Research and Competitive Intelligence Provider: Registering a year-on-year (YoY) growth rate of 12%, the global network video recorder market reached around US$ 2.9 Bn in 2021.

However, amid rising security concerns, overall sales of network video recorders are projected to grow at an 11.3% CAGR between 2022 and 2032, totaling around US$ 11.2 Bn by 2032.

Network video recorders are unique digital devices that record videos in a digital format and store them on a disk drive, SD memory card, or USB flash drive. These video recorders are mostly being deployed in IP video surveillance systems.

Rising adoption of network video recorders for gaining remote access to a live video stream from the internet protocol camera along with simultaneous recordings is expected to boost the market.

Similarly, various advantages offered by network video recorders such as fast data retrieval, less storage requirements, and high image quality will continue to fuel their adoption across various end use-verticals.

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Demand for network video recorders is expected to remain high across developed and developing nations due to rising smart city initiatives, rapid urbanization, and growing safety concerns. These recorders are being installed in establishments such as government buildings, healthcare infrastructure, military bases, and several other buildings to enhance the security.

Rising adoption of IP cameras for surveillance purposes is expected to create opportunities for growth for network video recorders manufacturers during the forecast period.

In addition to this, growing popularity of wireless technology, coupled with innovation in network video recorders will further boost the growth of network video recorder market.

Regionally, Mainland China is expected to remain at the top of the ladder in the global network video recorder market, with total sales reaching US$ 2 Bn by 2032. Growth in the market is attributable to the heavy presence of domestic manufacturers, high consumption of network video recorders, rising government support, and increasing security concerns.

Report Attributes

Details

Base Year Value (2021A)

US$ 2.9 Bn

Estimated Year Value (2022E)

US$ 3.3 Bn

Projected Year Value (2032F)

US$ 11.2 Bn

Global Growth Rate (2022-2032)

CAGR 11.3%

Key Takeaways:

  • Based on camera compatibility, wired network video recorder segment is projected to account for over 50% of the total market share in 2022.
  • In terms of channel type, sales in the enterprise NVRs segment are expected grow at a 13.8% CAGR over the forecast period.
  • Registering a prolific CAGR of 15.6%, the network video recorder market in Mainland China is expected to surpass US$ 2 Bn by 2032.
  • The U.S. network video recorder market is expected to create an absolute $ opportunity of US$ 1.2 Bn by 2032.
  • With rising adoption of network video recorders, the Europe market is forecast to grow at a significant pace during the forecast period.

Growth Drivers:

  • Rising adoption of video surveillance systems for improving security is anticipated to boost sales of network video recorders during the forecast period.
  • Increasing investments by governments for the development of smart cities is likely to create opportunities for the manufacturers of network video recorders.

Restraints:

  • High cost of network video recorder systems is expected to limit sales in the market.
  • Rising concerns regarding cybercrime activities is also likely to restrict the growth in the network video recorder market.

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Competitive Landscape:

Key manufacturers operating in network video recorder (NVR) market are introducing high quality NVR systems compatible for application in both commercial and industrial sectors. Besides this, they are adopting various strategies such as mergers, acquisitions, and collaborations to gain a competitive edge in the market.

For instance,

  • In November 2021QNAP Systems Inc., launched a new NVR network surveillance server QVP-41B to meet the requirements of monitoring small and medium sized environments.

Key Companies Profiled by Fact.MR

  • Hangzhou Hik-Vision Digital Technology Co Ltd
  • Zhejiang Dahua Technology Co Ltd
  • D-Link Corporation
  • Synology
  • QNAP Security

More Valuable Insights on Network Video Recorder (NVR) Market

In the latest study, Fact.MR offers a 360-degree view of the global network video recorder (NVR) market for the forecast period of 2022 to 2032. The report also highlights key factors such as recent developments and growth drivers influencing sales in the network video recorder (NVR) market through detailed segmentation as follows:

By Channel Type

  • Low Mid-range (Under 16 Channels) NVRs
  • High (17-32 Channels) NVRs
  • Enterprise (>32 Channels) NVRs

By Technology

  • HD IP
  • Analog HD

By Hard Drive

  • 1TB NVRs
  • 2TB NVRs
  • 3TB NVRs
  • 2*4TB NVRs

By Camera Compatibility

  • Wired NVRs
  • Wireless NVRs

By End-Use Vertical

  • Military/Defense
  • Government
  • Healthcare
  • Manufacturing/Industrial
  • Transportation
  • Commercial
  • Utilities

By Region

  • North America NVR Market
  • Latin America NVR Market
  • Europe NVR Market
  • East Asia NVR Market
  • South Asia & Oceania NVR Market
  • MEA NVR Market

Key Questions Covered in the Network Video Recorder (NVR) Market Report

  • What will be the demand outlook of the network video recorder (NVR) market in 2022?
  • What is the projected growth rate of the global network video recorder (NVR) market during 2022-2032?
  • Which are the key drivers bolstering growth in the network video recorder (NVR) market?
  • Which factors are hindering the growth in the network video recorder (NVR) market?
  • Which region is expected to exhibit the fastest growth in the global network video recorder (NVR) market during 2022-2032?

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