The global video surveillance market will soar to $10.4 billion by 2018, according to a forecast by market research firm ASDReports. This reflects a strong compound annual growth rate of 16.3 percent from the $4.9 billion market in 2013.
"Reducing costs of the hard disk drives, increasing implementation of the surveillance systems and higher return on investments due to scalability and flexibility are playing a major role in shaping the future of the video surveillance storage market," said the study. "Even though government organizations and enterprises have implemented storage solutions for surveillance data, due to regulations requiring longer storage of the data, these organizations and enterprises are switching to more scalable storage solutions."
North America is expected to be the largest market for video surveillance.