Ideas That Generate Results
Expanding Closed Circuit TV Industry - A Boon or Bane to The Security Service Market
This report by RNCOS, titled “Expanding Closed Circuit TV Industry - A Boon or Bane to The Security Service Market” talks primarily about the technological developments in the CCTV market. This report also highlights the fact that the demand for CCTV is constantly on the rise, thanks to the increasing cases of crime. Of course, people’s penchant for more and more sophisticated gadgets is also an important factor.
The CCTV industry has seen enormous fast paced developments in the past few years. Digitalization, IT networks, and web-enabled products are now revolutionizing control and remote management. This multi-user-tasking environment has reduced the need for expensive man guards and benefited the end user in gathering management and process information.
Usage of CCTV has grown steadily over the last two decades from its initial base in key public infrastructures like airports, and in sensitive commercial buildings such as banks, high level penetration retail outlets, residential buildings, hotels, schools, and hospitals. There has clearly been an expansion of CCTV surveillance around the world, especially in private sector surveillance, and they are now accelerating into the public realm. As in many other sectors, technological change is reshaping the security industry as declining prices for component parts and the growth of closed-circuit television have led the industry on a rapid rise. It was predicted in 2001 that the U.S. physical security equipment market would grow to $2.4 billion by 2007, compared to the $1.3 billion spent in 2000, with closed-circuit television (CCTV) driving the lion's share of that growth.
Network video surveillance technology has come into being as a result of three trends (a) the convergence of security and computer technology, (b) the growth of digital video recorders and digital surveillance cameras, and (c) video distribution over the internet.
The CCTV industry is predicted to experience a complete conversion from analog to digital technology by 2010, with the more developed economies in Asia North-East Asia (Japan, S.Korea, Taiwan, and Hong Kong) and in Australia/New Zealand becoming fully converted by 2008. Digital video surveillance is a high-growth niche within the overall surveillance market at 55% CAGR between 2003 and 2007. Between 2003 and 2007 the market will grow from ca. $1.3bn to ca. $7.4bn globally as a result of heightened security awareness, ROI benefits of digital and IP solutions and technology maturity / replacements.
- The CCTV market and assesses the derivative
- Various applications and benefits of CCTV
- Application of CCTV in regulating crime
- Key findings of Data Protection Act in alliance to CCTV
- Market dynamics for CCTV worldwide and European perspective
- Estimating the factors contributing to CCTV growth in Europe and Worldwide
- Technological imprint on the recent CCTV application
This report puts forward a detailed analysis of the present market, and the future prospects of the CCTV industry along with its transformation from analogue to digital technology. While Chapter 2 of the report provides an overview, Chapter 3 talks about the various applications and benefits of CCTV. Chapter 6 presents an evaluation of the worldwide market dynamics and European perspective, along with detailed presentation of the sales and revenue distribution up to 2006. Just before the conclusion, Chapter 8 provides an insight into the recent developments and concurrent changes in the CCTV market.