Network based systems

Network Video Recorder (NVR) Market Surpasses US$11.2 Billion Amid Growing Adoption of IP Cameras

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Continent China to be the epicenter of the network video recorder (NVR) market

NEW YORK, May 3, 2022 /PRNewswire/ — The latest report by Fact.MR offers an unbiased analysis of the global Network Video Recorder (NVR) market for the forecast period 2022 to 2032. The study also provides in-depth information on key trends and factors influencing sales through segmentation, including channel type, technology. , hard drive, camera compatibility, vertical end use and regions.

Fact.MR – A market research and competitive intelligence provider: Registering an annual growth rate (YoY) of 12%, the global network video recorder market reached approximately US$2.9 billion in 2021.

However, in the face of growing security concerns, Global Network Video Recorder Sales Expected to Increase at a CAGR of 11.3% between 2022 and 2032, totaling approximately US$11.2 billion by 2032.

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

Growing adoption of network video recorders to gain remote access to live video stream from internet protocol camera along with simultaneous recordings is expected to drive the market.

Likewise, various advantages offered by network video recorders such as fast data retrieval, reduced storage requirements and high image quality will continue to fuel their adoption in various end-use sectors.

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The demand for network video recorders is expected to remain high in both developed and developing countries due to the increase in smart city initiatives, rapid urbanization and growing security concerns. These recorders are installed in establishments such as government buildings, healthcare facilities, military bases and several other buildings to enhance security.

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

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

Regionally, Mainland China is expected to remain at the top of the global network video recorder market, with total sales reaching US$2 billion by 2032. The growth of the market is attributed to the strong presence of domestic manufacturers, high consumption of network video recorders, increasing government support and rising security concerns.

Report attributes

Details

Base year value (2021A)

US$2.9 billion

Estimated annual value (2022E)

US$3.3 billion

Projected year value (2032F)

US$11.2 billion

World growth rate (2022-2032)

CAGR 11.3%

Key points to remember:

  • Based on camera compatibility, the wired network video recorder segment is expected to account for more than 50% of the total market share in 2022.
  • In terms of channel type, sales of the enterprise NVR segment are expected to grow at a CAGR of 13.8% during the forecast period.
  • With a prolific CAGR of 15.6%, the network video recorder market in mainland China is expected to surpass US$2 billion by 2032.
  • The U.S. Network Video Recorder Market is Expected to Create an Absolute Dollar Opportunity to US$1.2 billion by 2032.
  • With the increasing adoption of network video recorders, the Europe The market is expected to grow at a significant rate during the forecast period.

Growth drivers:

  • Rising adoption of CCTV systems to improve security is expected to boost the sales of network video recorders during the forecast period.
  • Increasing government investment for the development of smart cities is likely to create opportunities for network video recorder manufacturers.

Constraints:

  • The high cost of network video recording systems is expected to limit market sales.
  • Rising concerns over cybercrime activities are also likely to limit the growth of the network video recorder market.

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Competitive Landscape:

Leading manufacturers operating in Network Video Recorder (NVR) market are introducing compatible high quality NVR systems for application in commercial and industrial sectors. In addition to this, they adopt various strategies such as mergers, acquisitions, and collaborations to gain a competitive advantage in the market.

For example,

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

Top Companies Featured by Fact.MR

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

More Valuable Insights into Network Video Recorder (NVR) Market

In the latest study, Fact.MR provides a 360 degree view of the global Network Video Recorder (NVR) Market for the forecast period 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-end NVR (less than 16 channels)
  • High NVRs (17-32 channels)
  • Enterprise NVR (>32 channels)

By technology

By hard disk

  • 1TB NVR
  • 2TB NVR
  • 3TB NVR
  • 2*4TB NVR

By camera compatibility

By end-use vertical

  • Military/Defense
  • Government
  • Health care
  • Manufacturing/Industrial
  • Transportation
  • Commercial
  • Utilities

By region

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

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

  • What will be the demand outlook for the Network Video Recorder (NVR) market in 2022?
  • What is the projected growth rate of the global Network Video Recorder (NVR) market in 2022-2032?
  • What are the key drivers driving the growth of the Network Video Recorder (NVR) market?
  • What factors are hindering the growth of the Network Video Recorder (NVR) Market?
  • Which region is expected to show the fastest growth in the global network video recorder (NVR) market in 2022-2032?

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About Fact.MR

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