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Digital Video Recorder Market to Achieve Significant Growth in the Near Future
A large TV subscriber base and increased adoption of digital technologies in the region are anticpated to drive the market over the forecast period. North America dominates the digital video recorder market due to early adoption of digital video recorders in the region.
Key players operating in the digital video recorder market include Arris Group, Inc., Cisco Systems, Inc., LG Electronics Inc., Panasonic Corporation, Samsung Electronics Co., Ltd., TiVo, Inc., AT&T, Inc., Echostar Corporation, Koninklijke Philips N.V., Sony Corporation, Honeywell International, Inc., and Comcast Corporation. These companies aim to stay at the technological forefront, gaining an early stronghold in the digital video recorder market.
A digital video recorder (DVR) is an electronic device that records video in a digital format to a hard disk drive (HDD), solid state drive (SSD), USB flash drive, SD card, or other mass storage devices. Digital video recorders include set-top-boxes, television sets, personal computers, camcorders, and media players with recording capability. Digital video recorders are used mainly for entertainment and security and surveillance applications. Fast data retrieval, less storage space requirement, and high image quality are a few of the advantages of digital video recorders over traditional video recorders.
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Change in consumer preference toward watching movies and TV shows at their own time is boosting demand for digital video recorders. Demand for television digital video recorders is rising with an emerging trend of on-demand entertainment. Increased digitization of television broadcasts and increased demand for high-definition (HD) videos is driving the digital video recorder market. Other factors propelling the digital video recorder market include rise in the number of television channels and increased penetration of smartphones and smart devices. Cloud digital video recorders are gaining traction in the market. Emergence of features such as time-shifting and ad-skipping is further expected to fuel the digital video recorder market during the forecast period. Multi-room digital video recorders are becoming a trend in the market. However, unlike video management software and network video recorder systems, digital video recorders do not have the advantage of edge device processing capabilities and supporting multi-cameras on a single system. This is projected to hinder the digital video recorder market during the forecast period. Bottlenecks in on-site storage drives also pose a challenge to the digital video recorder market.
Analog CCTV security systems are shifting to digital technology with the adoption of digital video recorders. Digital video recorders are replacing analog DVRs in security systems for high- quality video recording and monitoring, thus driving the security and surveillance application segment of the market. Digital video recorders make the systems easy and safe to access online through a network. This is expected to boost demand for them with an increase in adoption of Internet access over televisions.
The global digital video recorder market can be segmented based on type, platform, application, and region. Based on type, the digital video recorder market can be classified into standalone and integrated. The standalone digital video recorders segment include digital video recorder circuit boards (embedded). The integrated digital video recorder segment is expected to expand at a rapid CAGR, primarily due to an increase in demand for integrated digital video recorders in television sets. In terms of platform, the market can be categorized into DTH, cable, IPTV, and DTT. Based on application, the market can be split into security, entertainment, and others. The entertainment segment is expected to expand at a significant rate during the forecast period.
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Based on geography, the digital video recorder market can be segmented into North America, Asia Pacific, Middle East & Africa, South America, and Europe. Asia Pacific is expected to be a rapidly expanding region of the digital video recorder market. A large TV subscriber base and increased adoption of digital technologies in the region are anticpated to drive the market over the forecast period. North America dominates the digital video recorder market due to early adoption of digital video recorders in the region.
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