Global Network Video Recorder Market Size

Network Video Recorder Market Analysis

The Global Network, Video Recorder Market, is expected to register a CAGR of 10.9% during the forecast period (2022-2027). Rapid local network adoption for storage purposes is becoming more popular to increase media storage's flexibility and scalability. As a result of the direct storage and network extraction of media in local networks, the issue of insufficient data storage is resolved. The growing rate of local network adoption also propels the demand for network video recorder devices, which immediately store and source footage through the internet protocol network.

• Furthermore, an enhanced emphasis is being given to security, especially in the commercial sector. Globally, there is a rise in the use of IP cameras for security, as they can feed video over the network without being stored locally. IP cameras are a type of network video recorder equipment that is commonly utilized in both the household and business sectors. The demand for network video recorder devices is rising as security is given more attention.
• Players in the market are offering high-quality NVR systems suitable for commercial and industrial use to expand their penetration across lucrative markets. Additionally, emphasis is placed on new product launches like night surveillance cameras. For instance, in August 2021, Dahua Technology unveiled its updated full-colour2.0 network cameras. These cameras feature dual lenses, variable focal length lenses, 4K color photos, and employ artificial intelligence.
• The number of thefts and fraudulent transactions in banks and financial institutions is increasing. The rising number of ATM thefts and suspicious ATM withdrawals worldwide further drive the need for adequate security measures. Besides, the regulatory environment has become stringent, which is expected to bolster the deployment of Network video recorders.
• However, the high cost of network video recorder systems coupled with rising cybersecurity concerns will likely restrain the studied market's growth. In August 2021, a remote code execution (RCE) vulnerability in a network video recorder (NVR) manufactured by Annke was discovered, resulting in a complete compromise of the IoT device. The critical flaw (CVE-2021-32941) was found in the playback functionality of NVR model N48PBB, which captures and records live streams from up to eight IP security cameras and provides centralized, remote management of video surveillance systems.
• Unauthenticated attackers could access private information recorded on videos, obtain the position of valuable assets, or stalk people. Miscreants could also delete video footage, reconfigure motion detection alarms, disable specified cameras, or shut down the NVR altogether. Nozomi Networks alerted Annke to the flaw on July 11, 2021, and the vendor released firmware addressing the vulnerability on July 22. Such incidents amplify the security concerns among the common masses.