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Network Video Recorder (NVR) Market

Network Video Recorder (NVR) Market

Network Video Recorder (NVR) Market Analysis by Technology (HD IP, Analog HD), by Hard Drive (1TB, 2TB, 3TB NVRs), by Camera Compatibility (Wired, Wireless NVRs), by End-use Vertical & Region - Global Forecast 2022-2032

Network Video Recorder (NVR) Market
FACT7213MR
  • Apr-2022
  • List of Tables : 84
  • List of Figures : 138
  • 170 Pages
  • Technology

Network Video Recorder (NVR) Market Outlook (2022-2032)

The global network video recorder (NVR) market was valued at around US$ 2.9 Bn in 2021, registering Y-o-Y growth of 12%. Projections are that, sales of network video recorders will increase rapidly at 11.3% CAGR to jump to a market valuation of US$ 11.2 Bn by 2032-end.

Report Attributes

Details

Network Video Recorder Market Size (2021A)

US$ 2.9 Bn

Estimated Market Value (2022E)

US$ 3.3 Bn

Forecasted Market Value (2032F)

US$ 11.2 Bn

Global Market Growth Rate (2022-2032)

11.3% CAGR

East Asia Market Share (2022)

~29%

Market Share of Top 5 Companies

~40%

Key Companies Profiled

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

In 2021, worldwide network video recorder consumption accounted for around 18% share in the global video recorder market.

Network Video Recorder Demand Analysis (2017-2021) Vs. Forecast Outlook (2022-2032)

The global NVR systems market recorded a growth rate of 7.8% from 2017 to 2021.

Fact.MR, a market research and competitive intelligence provider, foresees thriving growth in network video recorder demand. Shipments of IP cameras have witnessed impressive growth during the historical years, up from 2.8 Mn units in 2015 to 25.1 Mn units in 2019, and are expected to surpass the mark of 50 Mn units by 2027.

This elevating demand for IP cameras is providing a promising stance to manufacturers to surge their annual production volumes of NVRs across all prominent regions.

In addition to this, population growth is a major reason generating significant demand for traffic surveillance and control systems. Utilization of video surveillance systems will aid traffic management along with reducing road mishaps across the world.

The global NVR market is slated to surge ahead at 11.3% CAGR over the 2022 to 2032 forecast time frame.

Network video recorder (nvr) market forecast by Fact.MR

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What are the Key Influencing Factors Steering Increasing NVR Sales?

“Retail Sector Demanding High-tech Surveillance Systems”

The expanding retail sector is expected to provide a positive outlook to the NVR systems market globally. Utilization of high-tech vision surveillance systems in showrooms and retail stores is projected to lead to steady demand for network video recording systems.

Growing emergence of NVRs as a replacement for conventional DVRs for surveillance is expected to provide long-term benefits to NVR manufacturers across the world. Deployment of NVR systems addresses issues such as image quality, resolution, and night footage quality. Moreover, these systems have a higher lifespan of 8-10 years as compared to conventional DVR technology

“Smart Cities & Infra Development Driving Market Expansion”

Rising infrastructure development and smart city projects across the world are anticipated to drive the global market. Rising investments by governments for smart city projects are likely to provide ample of opportunities for market players.

  • For instance, the Indian government has raised the budget for smart city projects from US$ 470 Mn in 2020 to US$ 890 Mn in 2021. Similar trends can be observed in other countries such as the U.S., Canada, China, Germany, Singapore, and Australia.

“Wireless Technology Expected to Drive NVR Sales Growth”

To attract newer customers, market players have been involved in unique strategies, one of which is product innovation of wireless camera compatible network video recorder.

Moreover, the trend of wireless technology is projected to intensify the deployment of network video recorder systems by 13% over forecast period. Advantages such as easy-to-install and greater coverage with fewer IP cameras are major factors for demand growth.

Wireless cameras reduce the cost of wireline maintenance, due to which, wireless NVR units have witnessed significant growth in the previous years. The wireless technology megatrend is expected to lead to a CAGR of 11.6% by volume over the coming years.

“R&D to Aid Global Market Consolidation”

Leading manufacturers are spending huge amounts on R&D to deliver advanced solutions for night-time surveillance. Emergence of advanced products is expected to improve the current product range, which will provide long-term benefits to manufacturers.

Unavailability of night vision cameras in the market will separate the tier-3 players in the market and provide alternative opportunities for revenue generation for them.

In addition, leading players are also investing in improving cyber security through data management and improvement in data storage. This will provide a promising stance to tier-1 NVR manufacturers for cash flow generation.

What Must Network Video Recorder Manufacturers Be Aware About?

“High Cost of NVR Equipment a Market Growth Restraint”

The high cost of network video recorder systems is likely to reduce product penetration for residential and commercial applications. This high cost is projected to provide opportunities for the utilization of alternative products such as DVRs and other systems.

Surging cybercrime activities are likely to hinder the demand outlook of NVR systems. Application of NVR in military & defense and government agencies has played a very crucial role in market growth during the historical years. Data captured in these applications is not just vital for day-to-day operations but may have also consequences related to national security and other emergencies.

Manufacturers have rolled up their sleeves to tackle this issue, but in the short term, this is likely to remain a key restraint.

An Adaptive Approach to Modern-day Research Needs

Country-wise Analysis

Why Does Mainland China Account for Significant Demand in East Asia?

Mainland China is one of the leading manufacturers while having significant domestic consumers of NVR systems. According to the Fact.MR survey, Mainland China accounts for 54% market share in the global CCTV surveillance market.

The country is a prominent consumer in the East Asia region. Rapid urbanization and industrialization have led to considerable demand, which is likely to follow the same trajectory during the forecast period.

The market in Mainland China is expected to surpass a valuation of US$ 2 Bn at a CAGR of 15.6% by 2032. Moreover, China is anticipated to capture a market share of more than 70% in the East Asia region.

Why Should NVR Manufacturers in North America Focus on the U.S.?

Shipments of network video recorders in the U.S. are expected to increase by more than 10% year-over-year in 2022. The U.S. accounted for 50 Mn installations of CCTV cameras in 2020, and this is projected to surpass the mark of 80 Mn units by the end of 2027.

As population plays a vital role in the in sales of consumer electronics, the overall market in the U.S is expected to witness an absolute $ opportunity of US$ 1.2 Bn by 2032 while gaining 210 BPS.

Category-wise Insights

Why is Wired Camera Technology Popular is Network Video Recording?

The wireless sub-segment is anticipated to be a lucrative avenue in this market. Wireless camera compatibility with NVR systems provides ease for large projects due to good connectivity up to a large distance.

However, wireless camera NVRs are suitable for 150-160 ft distance, which makes them useful for only residential and small-scale projects. As such, wired NVRs account for more than 50% market share in 2022, with an impressive Y-o-Y growth of 12.8% due to higher sustainability.

How Will Enterprise Channels Affect Demand for Network Video Recorders?

Growing demand for advanced surveillance systems in defense & military applications has enabled remarkable growth for manufacturers over the historical years.

The advantages of NVRs such as better vision, low maintenance costs, and coverage of large areas with less cameras are likely to drive their deployment. These factors are likely to push up the deployment of enterprise level NVRs over the coming years.

Due to rising demand from large projects, this segment is projected to witness a CAGR of 13.8% in the global market, and account for more than 50% market share over the period of forecast.

COVID-19 Impact on Revenue Generation from Network Video Recorders

Demand for surveillance from manufacturing/ industrial, government, military, commercial, and other verticals was constrained in early 2020 due to COVID. Due to this, the global market witnessed a declined growth rate of 2.5% in 2020.

Moreover due to COVID-19 impact, supply chain disruptions dramatically affected global shipments. The market witnessed a dip of -1.5% by value and revenue loss of nearly US$ 40.7 Mn, while volume dropped from 4 Mn units in 2019 to 3.9 Mn units in 2020.

Competitive Landscape

According to the market research analysis, Synology, QNAP Security, Synology, QNAP Security, Zhejiang Dahua Technology Co Ltd, D-Link Corporation, Exacq, Indigo Vision, Samsung, Vicon Industries, Inc, Lorex Technology, Viotek, Ganz, Genetec Corporation, and Hangzhou Hik-Vision Digital Technology Co Ltd are key suppliers of network video recorders.

To increase penetration across profitable markets, market players are providing high quality NVR systems applicable for commercial and industrial usage. Moreover, emphasis is given on the combination of organic and inorganic approaches and new product launches such as night surveillance cameras and others.

  • In 2021, Dahua Technology introduced its upgraded full-colour 2.0 network cameras. These cameras are associated with advanced functions such as dual-lens, vari-focal lens, 4K colour images, and artificial intelligence.

Segmentation of Network Video Recorder Industry Research

  • NVR Market by Channel Type :

    • Low Mid-range (Under 16 Channels) NVRs
    • High (17-32 Channels) NVRs
    • Enterprise (>32 Channels) NVRs
  • NVR Market by Technology :

    • HD IP
    • Analog HD
  • NVR Market by Hard Drive :

    • 1TB NVRs
    • 2TB NVRs
    • 3TB NVRs
    • 2*4TB NVRs
  • NVR Market by Camera Compatibility :

    • Wired NVRs
    • Wireless NVRs
  • NVR Market by End-use Vertical :

    • Military/Defense
    • Government
    • Healthcare
    • Manufacturing/Industrial
    • Transportation
    • Commercial
    • Utilities
  • NVR Market by Region :

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

- FAQs -

Global sales of network video recorders are valued at US$ 3.3 Bn in 2022.
The global network video recorder market is projected to expand at a CAGR of 13.1% by value during 2022 – 2032.
The NVR industry showcases an absolute dollar opportunity of US$ 7.4 Bn for the forecast period through 2032.
Emergence of IP cameras for video surveillance activities is attributed to provide a promising stance to the demand for NVRs.
Top 5 manufacturers of network video recorders account for around 40% share in the global market.
China, Taiwan, India, the U.S., and U.K. account for the highest demand for enterprise level NVR systems.
East Asia accounted for over 1/4 of global network video recorder demand in 2021.
Key manufacturers of network video recorders are Taiwan, China, the U.S., and Canada.
The India NVR market is set to expand at 13.6% CAGR by volume, accounting for almost 30% share in the South Asia & Oceania market.

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