Digital Video Recorder Market - Forecast 2021 - 2026
Overview
The Digital Video Recorder (DVR) Market is forecast to reach $ 92.78 billion by 2025 growing at a CAGR of 28.71% during the forecast period 2020-2025. The growth of Digital Video Recorder Market can be attributed to the rise in adoption of cloud based DVRs coupled with the growth in demand for HD videos. Increased digitization of television broadcasting along with rise in number of broadcast channels and rise in penetration of smartphones and smart devices will further drive the Digital Video Recorder Market. Moreover, extensively investment in research & development activities to incorporate new technologies is also expected to boost the growth of Digital Video Recorder Market during the forecast period.
Key Takeaways
- Rising adoption of cloud based digital video recorders is expected to propel the growth of DVR market during the forecast period owing to the shift towards cloud based solutions.
- Rise in interest to watch content anytime and surge in demand for multi screen viewing among consumers are key drivers of the cloud based digital video recorder market.
- Growing popularity of time shifted TV viewing and continued preference for DVRs over Video On Demand (VOD) as the preferred TV time shifting technology is expected to boost the growth of DVR market.
- Sales of DVRs are increasingly driven by the wider acceptance rate of Mutli-room DVRs. Growing trend towards Smart Home and Connected Home is driving the popularity of multi-room DVRs.
- Bottlenecks in on-site storage drives may pose a challenge to the digital video recorder market.
Product Type - Segment Analysis
The integrated digital video recorder segment has been analyzed to attribute to the majority of shares in The Digital Video Recorder (DVR) Market during the forecast period 2020-2025, primarily due to an increase in demand for integrated digital video recorders in television sets. For instance, the number of TV households with DVRs worldwide is estimated to reach 390.5 million by 2022 which paves ample opportunities for DVR market growth. The growing expectations among the subscribers for the higher level of flexibility to watch their recorded shows is expected to boost the growth of the cloud digital video recorder market globally. These recorders enabled the service provider to offer digital video recorder services without the need to deploy storage devices to subscribers.
By Application - Segment Analysis
The digital video recorders offer advantages like Fast data retrieval, less storage space requirement, and high image quality over traditional video recorders which boosted their adoption for entertainment applications. With the rising popularity of high definition videos for entertainment applications, vendors are now focusing on incorporating various technological advancements. For Instance, Amazon is also planning its own DVR service that would rival that of TiVo. The device, nicknamed "Frank" within Amazon, is a new type of digital video recorder for the streaming era. The device would include physical storage and would connect to Amazon’s existing Fire TV boxes.
Geography - Segment Analysis
Asia Pacific is expected to dominate the digital video recorder market with the highest market share of 38% and rapidly growing CAGR of 21.5 % during the forecast period 2020-2025 owing to the large TV subscriber base and increased adoption of digital technologies in the region. The rising set top box adoption combined with increased usage of USB flash drive and disk drives for this application is set to propel the adoption of video recording application software. MPA (Media Partners Asia) projects the Asia Pacific pay-TV base to grow from $645 million subs in 2018 to $696 million subs by 2023. Pay-TV revenue will total US$25 billion in China, US$16 billion in India, US$7.4 billion in Korea and US$7.1 billion in Japan which provide lucrative opportunities for the DVRs market. Growth in urban households coupled with rising living standard is also expected to aid the market growth. Moreover, expanding base of affluent middle class population and rise in the sophistication of entertainment habits and preferences that come from increased exposure to and adoption of digital technologies and platforms will further propel the growth of digital video recorder market in the APAC region.
Drivers – Digital Video Recorder Market.
· Rising demand for high quality video recording to propel the DVR market growth.
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.
· Emerging trend of on-demand entertainment to drive DVR market.
Change in consumer preference towards 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 increasing popularity of on-demand entertainment owing to rising digitization of television broadcasts. Emergence of features such as time-shifting and ad-skipping is further expected to fuel the digital video recorder market during the forecast period.
Challenges – Digital Video Recorder Market.
· Growing popularity of Network Video Recorder (NVR) systems over DVRs may hamper the market growth.
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. NVR camera systems do not need internet to record and save footage. The security systems will consume bandwidth only while accessing it remotely via phone or PC software. These features are projected to hinder the digital video recorder market during the forecast period.
Market Landscape
Partnerships and acquisitions along with expansions are the key strategies adopted by the players in the Data Virtualization Market. The top ten Players in the Digital Video Recorder Market includes ARRIS International plc, AT&T Inc., Broadcom Limited, Cisco Systems Inc., Comcast Corporation, DISH Network L.L.C, EchoStar Corporation, Technicolor, Channel Master and TiVo Corporation.
Expansions/ Acquisitions / Collaborations / R&D activities
- In April 2018, Broadcom completed the re-domiciliation to U.S aiming to strengthen its position in the country. This move to the United States could allow Broadcom to buy U.S. companies without coming under the scrutiny of the Committee on Foreign Investment in the United States (CFIUS).
- In June 2018, AT&T acquired Time Warner in a move to deliver differentiated, High-Quality, Mobile-First entertainment experience.
- In September 2019, Comcast collaborated with LG in a move to access Xfinity TV app for live, On –demand and Cloud DVR programming on LG smart TVs.
- In May 2019, EchoStar Announced agreement to transfer BSS business to DISH Network Corporation. This will strengthen DISH’s position in the U.S DVRs market.
