Key takeaways from EMC's 3Q14 earnings (Part 3 of 9)
EMC launched VNX-VSS100 storage system
In September 2014, EMC (EMC) launched its VNX-VSS100 storage system, which is purpose-built and configured for highly distributed video surveillance environments. Based on the VNX platform, the product delivers simplicity and affordability. The new VNX-VSS100 storage array complements EMC Isilon, a scale-out data lake solution for scalable, large camera environments.
Huge growth expected in video surveillance market
According to an IHS Technology report, analysts expect the video surveillance equipment market to reach $26 billion by 2018. According to Presidio, the surveillance equipment market is set to reach $26 billion in 2018. This growth is 2X faster than the IT Market.
As the above chart shows, analysts expect government, city surveillance, and transportation to account for 58% of all VSS storage expenditures in 2018. In the video surveillance market, Sony (SNE) is a pioneer of CCTV & IP Video monitoring systems. Canon (CAJ) and Toshiba (TOSBF) are other leading players in this space. Cisco (CSCO) with its IP cameras like Cisco 6050 has been in this space for more than five years.
EMC targets the surveillance market in Asia
According to TechNavio, analysts expect the video surveillance market in Southeast Asia to grow at a compound annual growth rate (or CAGR) of 40.32% from 2013 to 2018. Sensing the opportunity, EMC intends to set up a new video surveillance interoperability and testing lab in Asia. This will enable customers to leverage technologies from video surveillance partners like Axis, Genetec, Verint, and Milestone.
Christopher Chute, IDC research vice president for global digital imaging practice, says, “EMC’s new video surveillance solutions and testing capabilities are timely in addressing well-documented pain points in a high-growth market, namely a sense of scale and standardization.”
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