The network video recorder global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Network Video Recorder Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The network video recorder market size has grown rapidly in recent years. It will grow from $3.14 billion in 2023 to $3.56 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to enhancements in surveillance system capabilities, increasing adoption of IP-based surveillance systems, growing demand for video analytics, rising concerns about security and safety, and integration with other security systems.
The network video recorder market size is expected to see rapid growth in the next few years. It will grow to $5.86 billion in 2028 at a compound annual growth rate (CAGR) of 13.3%. The growth in the forecast period can be attributed to emergence of 4K and ultra-high-definition (UHD) video recording, expanding applications in smart cities and smart homes, integration with cloud-based storage solutions, adoption of artificial intelligence (AI) and machine learning (ML) technologies, increasing demand for video surveillance in retail and commercial sectors. Major trends in the forecast period include increased demand for cloud-based video storage and analytics solutions, growing integration of AI and machine learning in video surveillance systems, adoption of 4K and ultra-high-definition (UHD) cameras for enhanced video quality, rise of edge computing for real-time video analytics and processing, and expansion of video surveillance as a service (VSaaS) offerings.
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Scope Of Network Video Recorder Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Network Video Recorder Market Overview
Market Drivers –
The increasing number of surveillance network breaches is expected to propel the growth of the network video recorder(NVR) market going forward. Surveillance network breaches refer to unauthorized access, compromise, or exploitation of surveillance systems and networks, resulting in security vulnerabilities, data breaches, or privacy violations. These surveillance devices are part of the Internet of Things (IoT) ecosystem, which might lack adequate security features, such as insecure firmware, a lack of secure communication protocols, and vulnerability to remote attacks, significantly contributing to increased surveillance network breaches. NVRs enforce robust access control mechanisms, including strong authentication methods such as multi-factor authentication (MFA) and role-based access control (RBAC). This mechanism ensures that only authorized users can access surveillance data and management functions, reducing the risk of data breaches. For instance, in March 2021, Check Point Software Technologies Ltd., an Israel-based software company, reported that hackers had infiltrated many IoT security cameras through the Silicon Valley-based startup Verkada. This breach led to unauthorized access to 150,000 IP cameras deployed in various sensitive locations, including hospitals, police departments, prisons, schools, and well-known companies like Tesla and Equinox. Therefore, the heightened focus on cybersecurity in surveillance networks is driving the growth of the network video recorder market.
Market Trends –
Major companies operating in the network video recorder market are developing internet protocol (IP) surveillance solutions to improve security and offer advanced features. IP surveillance solutions enhance network video surveillance by providing higher image quality, scalability, remote access, intelligent analytics, easy integration, cost-effectiveness, and future-proofing. For instance, in June 2021, D-Link Systems Inc., a Taiwan-based communications and networking company, launched the JustConnect 16-Channel H.265 PoE Network Video Recorder (DNR-4020-16P), a comprehensive IP video surveillance solution tailored for small and medium-sized businesses and enterprises. The DNR-4020-16P features integrated Power over Ethernet (PoE) ports for up to 16 cameras, supporting H.265/HEVC for efficient bandwidth usage and high-quality video resolution. It offers built-in high-definition multimedia interface (HDMI) and video graphics array (VGA) ports and keyboard and mouse support for real-time monitoring and playback without extra hardware or software. The DNR-4020-16P is compatible with D-Link’s Vigilance camera range and mydlink cameras, enabling access to 16 live channels for live viewing, recording, playback, and pan, tilt, and zoom (PTZ) control. These features are accessible remotely through the JustConnect+ mobile app.
The network video recorder market covered in this report is segmented –
1) By Type: Standalone Network Video Recorder, Rackmount Network Video Recorder, Other Types
2) By Technology: High Definition Internet Protocol (HD-IP), Analog High Definition (HD)
3) By Camera Compatibility: Wired, Wireless
4) By End-Use Vertical: Military And Defense, Government, Healthcare, Manufacturing Or industrial, Transportation, Commercial, Utilities
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Regional Insights –
North America was the largest region in the network video recorder market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the network video recorder market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the network video recorder market are Panasonic Corporation, Honeywell International Inc., Johnson Controls Inc., Delta Electronics Inc., Hikvision, Zhejiang Dahua Technology Co. Ltd., Ganz Security, Axis Communications AB, Avigilon Corporation, Verint Systems Inc., Teledyne FLIR LLC, IDIS Global, Genetec Inc., VIVOTEK Inc., Milestone Systems, Synology Inc., Pelco Incorporated, D-Link Corporation, Bosch Security Systems, Hanwha Techwin Co. Ltd., Arecont Vision Costar, IndigoVision, Vicon Industries Inc., Lorex Technology Inc., ACTi Corporation
Table of Contents
1. Executive Summary
2. Network Video Recorder Market Report Structure
3. Network Video Recorder Market Trends And Strategies
4. Network Video Recorder Market – Macro Economic Scenario
5. Network Video Recorder Market Size And Growth
…..
27. Network Video Recorder Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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