Surveillance Digital Video Recorder (DVR) Market is Projected to Reach US$ 16.55 Billion by 2034, Fact.MR

Surveillance DVR Market Expanding on Back of Increasing Demand for High Resolution and Panoramic Cameras for Home Monitoring Purposes: Fact.MR Study

ROCKVILLE, MD, UNITED STATES, July 10, 2024 /EINPresswire.com/ -- According to Fact.MR, a market research and competitive intelligence provider, the global market for surveillance digital video recorders (DVR) was valued at just over US$ 8 billion in 2023, registering year-on-year growth of 5.5%. Worldwide surveillance DVR sales are projected to increase at a CAGR of 6.9% and reach US$ 16.55 billion by the end of 2034.

This market has seen significant development over the last few years, necessitated by the rising need for enhanced security systems all over the world. Market growth has also been triggered by increased demand for elevated security in the business and industrial areas, growing smart city programs, and implementation of cloud-based video management systems (VMS).

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Business security services have increased significantly, in 2023, business security accounted for 24.3% of global spending on Surveillance DVRs. North America, Europe, and East Asia will be key regional markets to watch out for over the next ten years.

Key Takeaways from Market Study
The global surveillance DVR market is projected to expand at an impressive CAGR of 6.9% and reach US$ 16.55 billion by 2034. The market expanded at 5% CAGR during the historical period (2019 to 2023). Under channel type, the 8 channels segment leads the market with a share of 25.8%.

Europe accounts for 36.5% of the global market share in 2023. Revenue from surveillance DVR sales is projected to increase at CAGRs of 18.9% and 7.1%, in East Asia and South Asia & Pacific, respectively, through 2034.

“Digitalization of businesses will drive the popularity of surveillance DVR agencies over the coming years,” says a Fact.MR analyst.

Key Companies Profiled:
Oracle Corporation, IBM Corporation, Advantech Corporation, Digilogistics Technology Ltd, Cisco Systems, Arkessa, Orbcomm Inc., IDIS, NOTE, Other Prominent Players.

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Market Development
The surveillance DVR services market is highly fragmented with the presence of several new and established players in the market. Most of them are taking various initiatives to stay competitive in the market.

In August 2023, IDIS announced the acquisition of Costar to drive growth in the North American video surveillance market. This strategic move positions IDIS for expansion in the region by leveraging Costar's established presence and customer base.

In July 2023, NOTE announced the acquisition of all shares in electronics manufacturer DVR Ltd. to expand its manufacturing capacity in the growing U.K. market. DVR's projected 2023 turnover of US$ 14.5 million, with profitability aligned with NOTE's, positions the company as a large player in the British EMS industry.

To cope with intense competition in the market, several organic and inorganic strategies are being employed by market players to increase their customer base by focusing on diverse end-use industries as well as regions.

More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global surveillance DVR market, presenting historical market data (2019 to 2023) and forecast statistics for the period of (2024 to 2034).

The study reveals essential insights based on channel type (1 channel, 4 channels, 8 channels, 16 channels, 32 channels, 64 channels), type (standalone (embedded) DVR, PC-based DVR), application (business security, home security, traffic monitoring, retail loss prevention, public safety, educational institutions, healthcare facilities, industrial & manufacturing, defence & military, others), storage capacity (less than 1 TB, 1 to 5 TB, above 5 TB), and enterprise size (SMEs, large enterprises) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and the Middle East and Africa).

Explore More Studies Published by Fact.MR Research:
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Video Management Software Market: The global video management software market is projected to increase from a size of US$ 5.78 billion in 2024 to US$ 36.38 billion by the end of 2034. According to Fact.MR’s latest market analysis, the market is calculated to rise at a value CAGR of 20.2% from 2024 to 2034.

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