Surging Wireless Video Surveillance Industry to Increase Demand for Network Video Recorders, Says Fact.MR

The size of the global network video recorder (NVR) market has been estimated at US$ 4.16 billion for the year 2024 and is expected to grow at a CAGR of 13.3% and reach US$ 14.57 billion by the end of 2034. The enterprise channel segment had 48.3% market share in the year 2023.

Demand for network video recorders is anticipated to increase due to the rising infrastructure and increase security surveillance over the coming years. NVRs provide advanced audio and video surveillance. Additionally, for NVR manufacturers, the changing technology of NVRs that are much more advanced than conventional DVRs will provide long-term growth opportunities.

Most of IP camera-enabled network video recorder systems have a life span of 8 to 10 years, high resolution, and capability for video & audio recording. Constant developments in NVRs owing to increased penetration of security surveillance devices in residential and industrial settings are driving market expansion. The shipments of IP cameras exceeded 25 million in 2021, which will be responsible high market growth in the years ahead.

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Key Takeaways from Market Study:

• The global network video recorder market, which was valued at US$ 3.69 billion in 2023, is estimated to reach US$ 4.16 billion in 2024 and is projected to expand significantly at a CAGR of 13.3%, ultimately attaining a market valuation of US$ 14.57 billion by 2034.
• East Asia held a substantial market share of 25.1% in 2023, indicating its strong presence in the NVR industry, while China is expected to outpace other regions with an impressive CAGR of 15.6% from 2024 to 2034, driven by increasing investments in surveillance infrastructure and smart security solutions.
• The North American network video recorder market is also forecasted to grow at a steady CAGR of 13.3% from 2024 to 2034, fueled by rising adoption of cloud-based surveillance systems and stringent regulatory requirements for enhanced security.
• The top five companies operating in the global NVR market collectively accounted for 25% of the total market share in 2023, showcasing a moderately consolidated industry landscape where leading players continue to strengthen their market positions through technological advancements and strategic partnerships.

“Real-time storage and transmission attribute of NVRs has enhanced industry penetration in the commercial space,” says a Fact.MR analyst.

Leading Players Driving Innovation in the Network Video Recorder (NVR) Market:

Avigilon Corporation; Axis Communications AB; D-Link Corporation; Ganz Security; Hanwha Techwin Co., Ltd.; Hikvision; Honeywell International Inc.; Indigo Vision; Johnson Controls; Lorex Technology lnc.; Panasonic Corporation; Synology; Vicon Industries, Inc.; VIVOTEK Inc.; Zhejiang Dahua Technology Co Ltd

Market Development:

The emerging trend of retail and online store surveillance and security across the world is providing consistency in demand to this market. The number of warehouses has increased, and for bulk material stored, it has become vital to have security surveillance as the presence of workers in warehouses is not possible to protect from any kind of theft.

NVR systems are being preferred as they have advanced attributes as compared to DVRs. For manufacturers, continuous developments in products will create the opportunity to increase their sales in the market. Moreover, market participants are developing integrated platforms, wherein, network video recorders can be connected through smartphones and PCs.

Owing to organic growth strategies such as long-term collaborations with end users and replacement of DVRs with advanced NVRs, market players are able to capture a significant market share.

Network Video Recorder (NVR) Market News:

In 2022, Synology Inc. introduced Synology® DVA1622, a next-generation NVR solution. With its compact form factor, it combines intelligent video analytics for advanced surveillance. Having two integrated Deep Learning Acceleration (DLA) processors, the DVA1622 delivers effective video analysis and supports a maximum of 32 camera feeds, offering reliable security solutions to different environments.

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More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the global photonic packaging market, presenting historical market data (2019-2023) and forecast statistics for the period of 2024-2034.

The study reveals essential insights on the basis of sales channel (low-mid range (under 16 channels), high (17-32 channels), enterprise (>32 channels)), hard drive (1 TB, 2 TB, 3 TB, 2*3 TB), technology (HD-IP, analog HD), compatibility (wired, wireless), and end-use industry (military/defense, government, healthcare, manufacturing/industrial, transportation, commercial, utilities), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

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