CCTV Market Size, Share, Global Overview, Emerging Trends, Business Growth, Sales Revenue, Opportunities, Development Status, Competitive Landscape and Regional Forecast to 2020
October 12, 2018 --
The global CCTV market is likely to be valued around $19 billion in 2015. This market is expected to grow at a CAGR of approximately 20%. There is a precipitous rise in the demand of CCTVs across the globe due to growing focus of governments towards public safety and city surveillance. Furthermore, the CCTV Market is shifting from unorganized sector to organized which is another factor fueling the growth of the market. Citing 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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Jan 2018 D-Link Corporation which has established itself as a provider of connectivity solutions on a global level for various enterprise’s business networking, have recently announced their entry in the CCTV market with the introduction of eight different products specifically designed for this vertical. The move to move in to the CCTV industry specifically in the Middle East and Africa region will enable the company to continue the growth that this sector has been witnessing in the last 12 to 18 months. The move is considered by the company as a natural progression for D-Link as it at present supplies its channel partners and their clientele with a wide range of outdoor and indoor IP surveillance cameras.
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 –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.
Owing to the lucrative potential of this market, the contenders in the industry are aiming to grow their market portion to a by the usage of key assets to enable growth transformations which will be beneficial for the long run transformation of the sector. This outlook is favorable for the volume driven growth of the sector. Diverse products will increase the demand levels of the industry which will lead to speedy growth in the market. The industry is maintaining the growth potential of the market through continuous ongoing course advances and supporting financial flexibility to spend in the finest strategies when they arise.
The major players in this industry include Bosch Security System, Honeywell Security, AssaAbloy, Hikvision Digital Technology, Safran Security, Dahua Technology, Flir Systems, Samsung, Tyco Security Products, and Axis Communications amongst others.
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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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