Global CCTV Market – Overview:
Global CCTV Market is in its happier days and experiencing substantial growth across the globe for the past few years owing to the rising concerns of security and safety. This eventually, has resulted into an increased demand for technically advanced surveillance system and creating a huge growth opportunities for CCTV Market players.
The Segment – ‘Analog CCTV camera’ dominated the global CCTV Market in the past owing to emerging network IP as the leading technology. The threat of terrorism and an increase in crime rate have also fueled the evolution of video analytics.
CCTV systems are being widely utilized in the transportation sector to manage traffic flow and enhance highways safety, and they continue to play a significant role in retail sector for valuable management information. On observing the latest trends in the global CCTV market, it’s found that cloud-based video surveillance is the next generation of video surveillance.
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Global CCTV Market –Segments
Global CCTV market is segmented on the basis of types of CCTVs. Analogue, HD analogue, and internet protocol cameras are the major types of CCTVs. The IP cameras market is further sub divided into wired IP cameras, and wireless IP cameras. The IP camera market is poised to witness the highest CAGR in the CCTV market by type due to technological advancements.
On the basis of technology, the CCTV market is divided into CMOS and CCD technology. The demand for CMOS technology is poised to increase in coming years due to its user friendliness. The CCTV market is again subdivided on the basis end users into educational centers, hospitals, hotels, real estates, religious places, government, retail, IT sector, and transport sector. Amongst all the above mentioned end users, government is the largest end user for CCTVs. The large share is attributed to wide usage of CCTVs in government offices and roads.
The market is further divided according to the channel structure into distribution channel and retail channel. The distribution channel accounted for the largest share in the global CCTV market. However, the retail market will witness a high growth.
The prominent players in this market include Hikvision Digital Technology, Honeywell Security, Bosch Security System, Safran Security, Dahua Technology, AssaAbloy, Tyco Security Products, Flir Systems, Samsung, and Axis Communications amongst others.
Global CCTV Market – Market Synopsis & Scenario
The global CCTV market valued around $19 billion in 2015. The Market has grown substantially in the year 2016 and is further expected to grow at a CAGR of approximately 20%. There is a swift rise in the demand of CCTVs across the globe due to growing focus of governments towards public safety and city surveillance. Global CCTV market is switching from unorganized sector to organized which is another factor fueling the growth of the market. Looking at the demand and potential of CCTV market, various venturing capitalist firms are also investing in this market and aiding companies to develop new and advanced products. This is another major reason for the high growth of this market. However, low awareness of people in the developing countries regarding advanced CCTV products can hinder the market growth up to some extent.
Video Content Analysis (VCA) is one of the major trends observed in this industry. There is a clear trend to embed intelligence in the CCTVs for automatically analyzing video to detect and determine temporal and spatial events. Another major trend followed in the industry includes growing preference towards fixed dome camera from box cameras. Fixed dome cameras are easy to install and aesthetically pleasing. The industry is witnessing various other trends as well, which are discussed in report in detailed manner.
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Global CCTV Market – Regional Analysis
Based on region, North America is the largest market for CCTV followed by Europe and Asia. The Asian market especially India and China are focus for the growth the global CCTV market. Improving infrastructure, government initiatives, and high economic growth in this region has triggered the growth of this market.
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