Digital Video Recorder Market size to grow by USD 6.76 billion from 2021 to 2026, The advent of smart AI-based video surveillance to be a major trend influencing the market growth - Technavio
NEW YORK, March 29, 2023 /PRNewswire/ -- The global digital video recorder market size is estimated to grow by USD 6.76 billion from 2021 to 2026, according to Technavio. The market is estimated to grow at a CAGR of 7.31% during the forecast period. The advent of smart AI-based video surveillance is one of the primary digital video recorder market trends that is expected to impact the digital video recorder market positively in the forecast period. AI makes use of smart automation to analyze large volumes of surveillance data to derive intelligent insights. For instance, Intel Movidius leverages AI and deep learning to make surveillance proactive by detecting unattended objects and behavior monitoring. Smart AI-based video surveillance systems include intrusion detection; motion; speed detection, object classification, behavioral analysis, GPS mapping, and vehicle tagging and tracking. IC Realtime is working on facial recognition. It offers Ella, which runs on Google Cloud, deploys AI to conduct video feed analysis across CCTV systems, and makes videos instantly searchable. Moreover, developing countries such as China encourage the use of AI. Hence, trends such as smart AI-based video surveillance are expected to drive the DVR market growth during the forecast period. For more insights on the forecast market size (2021 to 2026) - Request a sample report
Digital Video Recorder Market - Segmentation Assessment Segment Overview Technavio has segmented the market based on deployment (in-home DVR and cloud DVR) and geography (North America, APAC, Europe, South America, and Middle East and Africa).
The market share growth by the in-home DVRs segment will be significant for the growth of the global digital video recorder market during the forecast period. In-home DVRs make use of local hard drives to store video files in digital formats. The use of new technologies such as artificial intelligence (AI), deep learning, and facial recognition in CCTV cameras will also boost the demand for in-home DVRs, which is expected to enhance the growth of the segment during the forecast period.
Geography Overview The report provides actionable insights and estimates the contribution of all regions to the growth of the global digital video recorder market.
North America is estimated to account for 35% of the global market growth during the forecast period. The US is the key market for digital video recorders in the region. However, market growth in this region is estimated to be slower than the growth of the market in APAC. The need to prevent terrorism and rapid urbanization and industrialization in countries in the region will facilitate the digital video recorder market growth in North America over the forecast period.
Insights on the market contribution of various segments, including country- and region- wise data and forecast market size (2021 to 2026) - Download a Sample Report
Digital Video Recorder Market ? Market Dynamics Key factor driving market growth A key factor fueling the global digital video recorder market growth is the increasing penetration of mobile computing devices. The growth can be attributed to factors such as growing digital literacy, rising per capita income, the availability of low-cost smartphones, investments in communication network infrastructure, and increasing Internet penetration. All vendors in the market offer subscription video-on-demand (SVOD), advertisement-based video-on-demand, and TVOD formats, such as Netflix, Amazon.com, and AT&T. The rapid penetration of mobile devices has encouraged market vendors to develop mobile apps for streaming. The apps also record the personal information of users, helping vendors retain customers through target advertising. Hence, the rising penetration of mobile computing devices will positively impact the growth of the global DVR market during the forecast period.
Major challenges hindering the market growth
A key challenge that may impede the global digital video recorder market growth is the slow internet speed that leads to disruptions in video surveillance and the high cost of transmitting videos. Most broadband or high-speed Internet service providers provide asymmetric connections. Furthermore, Internet speed has been low in developing countries such as India and China. This is because of the low spending on infrastructure. In most countries in Europe and MEA, the generated network traffic is routed through servers located in Europe. This is the main reason for the low speed of the Internet. As for video surveillance, a high upload speed is required for transmitting video feeds. This may hinder the growth of the DVR market during the forecast period.
The volumetric video market size is expected to increase to USD 3.05 billion from 2021 to 2026. A key factor driving growth in the volumetric video market is the rising demand for the enhanced match-viewing experience.
The automotive event data recorder market size is expected to increase to USD 1.32 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.86%. A key factor driving the global automotive event data recorder (EDR) industry growth is the rising number of road accidents across the world.
Digital Video Recorder Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 7.31%
Market growth 2022-2026
USD 6.76 billion
YoY growth 2021-2022 (%)
North America, APAC, Europe, South America, and Middle East and Africa
Performing market contribution
North America at 35%
US, China, Japan, Germany, and UK, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
ALE International, AT&T Inc., Canon Inc., Cisco Systems Inc., Comcast Corp., CommScope Holding Co. Inc., Dell Technologies Inc., DISH Network Corp., EchoStar Corp., Honeywell International Inc., Johnson Controls International Plc, Panasonic Holdings Corp., Renesas Electronics Corp., Robert Bosch GmbH, Sony Group Corp., Technicolor SA, Teledyne Technologies Inc., Xperi Holding Corp., Zhejiang Dahua Technology Co. Ltd., and Zoom Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
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Exhibit 136: Validation techniques employed for market sizing
Exhibit 137: Information sources
11.5 List of abbreviations
Exhibit 138: List of abbreviations
About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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