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Worldwide Network Video Recorder (NVR) Market is projected to Accrue Lucrative Gains by 2021
Worldwide network video recorder (NVR) market is expected to exhibit a significant CAGR over the forecast period (2016 – 2021). Growing adoption of IP cameras over analog cameras due to increasing use of Internet of Things (IoT) is considered to be major driving factor. Growing need for security applications in government as well as private sector is also anticipated to spur the market. An NVR is a software system that enables video recording in a digital format, which can be transferred to a secured digital (SD) card, USB pen drive, disk drive, or other mass storage devices. Generally, a software runs with an embedded operating system for better functionality, for example, operating systems such as Windows or Linux used in conjunction with video management software. In other words, it is a network camera that helps real-time recording and remote access to recorded as well as live images. These recorders are preferably used in combination with network cameras, which capture images and transmit compressed videos to the required communication channel.
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Factors such as increasing concerns over security and safety of life and assets and rising incidence of crimes and terrorist attacks can propel the market. Network-based video recording offers several benefits such as greater flexibility, improved security, and high definition data. Additionally, rising need of local network storage for storing digital videos is anticipated to boost the market over the forthcoming years. Some non-security applications may include monitoring manufacturing processes, monitoring patient health in hospitals, visual communication, and streaming live events – such as sports matches and music concerts – over the Internet. This system can also support integration of third-party cameras. The video management software facilitates an intuitive user interface, which provides all required features for effective surveillance such as site maps, powerful event configuration, flexible live-view layout, and efficient alarm management system.
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The recently developed “AXIS Camera Station S2024”by Axis Communications is a compact surveillance application integrated with 12 TB storage (3 x 4TB) and a manageable PoEswitch. The camera requires less time to configure as it is preloaded with all essential software, including AXIS Camera Station video management software. It is an all-in-one solution useful for mid-sized installations up to 24 channels. Specifications of all hardware components and storage capacity are validated to fulfil the demand for high definition surveillance up to 4K Ultra HD. The global network video recorder (NVR) market is segmented based on hardware, software and service, end user, and region. Hardware may include camera, monitor, server, storage devices, and accessories. Software may consist of video analytics and video management systems, neural networks, and algorithms. Service may involve installation, maintenance, and repair.
As per end use, market may be divided into government, commercial, residential, infrastructure, military and defense, BFSI, retail, and industrial. The government sector represents a major share in the market. The retail sector is predicted to be register rapid growth. Geographically, the worldwide NVR market is divided into China, North America, Europe, Asia-Pacific, and the Middle East and Africa. North America dominated the worldwide NVR market in recent years. Asia Pacific is anticipated to exhibit robust growth during the forecast period due to increasing foreign investment in the manufacturing sector. Prominent players operating in the market include Axis Communications, Panasonic, Bosch, Samsung, and Honeywell.