The market for cloud storage of CCTV footage is expected to grow by more than 40 percent annually in the coming four years, according to a new research report published by Research and Markets.
Demand for offsite long-term video hosting (LTVH) services such as those offered by IL Solutions is expected to grow at a much higher rate than overall demand for CCTV storage. The report indicates that the market for video surveillance storage is expected to grow by a compound annual growth rate of 22.41% and reach some $18.28 billion by 2020.
The increase is driven by rising demand for video surveillance systems. This in turn spurs a need for upgrading the storage capacity of CCTV data. Video surveillance storage refers to the process of storing data generated by surveillance cameras. This real-time data is stored for a period of time on the storage devices and can be retrieved for analysis of any event or as evidence for a particular situation.
“The findings are in line with the feedback we are getting from the market,” said Elazar Hertz Van-Spiegel, founder and CEO of IL Solutions. “We are seeing an increase in demand for cloud-based storage solutions that enable organizations to back up all their CCTV data for an unlimited time on a daily basis, while allowing them to retrieve their video data whenever required.”
According to the report, video surveillance storage plays an important role in an overall security system by helping individuals store crucial information and video feeds.
“Video surveillance storage has emerged from a simple data recording to sophisticated storage of data using storage technologies, which can be analyzed and retrieved as and when required,” the report concluded.