Market Size of Asia-Pacific Surveillance Storage Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 7.20 Billion |
| Market Size (2029) | USD 11.20 Billion |
| CAGR (2024 - 2029) | 9.30 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Surveillance Storage Market Analysis
The Asia Pacific Surveillance Storage Market size is estimated at USD 7.20 billion in 2024, and is expected to reach USD 11.20 billion by 2029, growing at a CAGR of 9.30% during the forecast period (2024-2029).
Video surveillance is an indispensable pillar of modern security strategies, offering many crucial applications and advantages. Businesses and institutions, from security systems to workplace safety and risk mitigation, rely on video surveillance to enhance their operations. Consequently, the need for surveillance storage has witnessed a substantial surge. This surge is essential as it guarantees that videos are not only properly stored but also readily accessible. This demand is further fueled by the perpetual expansion of video datasets, attributed to heightened resolutions and prolonged retention periods.
•Asia-Pacific, housing over 60% of the world's youth, is a dynamic hub of global economic activity. With an estimated 750 million young individuals aged 15 to 24, the region boasts heightened education and skills. The ambitious youth mirror the region's drive as its economies witness unprecedented GDP growth. Embracing digital innovations, they are pivoting from traditional manufacturing to high-value, global industries.
•During these shifts, video surveillance emerges as a vital component, especially in light of growing concerns for public safety. While many industries now rely on video surveillance as a safety linchpin, its significance transcends mere security. It acts proactively to avert accidents, aids in quality control and is a pivotal evidentiary tool.
•Highlighting the need, India saw vehicle thefts surge by 2.5 times in 2023 compared to 2022, with New Delhi leading the tally, as per Acko Digital Insurance's 'Theft & the City 2024' report. Meanwhile, Japan witnessed a 17% rise in crimes in 2023, totaling 703,351 incidents, inching closer to pre-pandemic levels for the second consecutive year, as per the National Police Agency.
•Many organizations, spanning sectors from retail to transportation, maintain round-the-clock surveillance, often at the edge—locations where conventional IT infrastructure is scarce. However, the efficacy of this surveillance hinges on secure storage and seamless retrieval, a factor amplifying the demand for surveillance storage solutions in the region.
