The CCTV market is gaining huge popularity across the world due to rising concerns for security and safety. This has resulted into an increased demand for technically advanced surveillance system, thereby, creating huge growth opportunities for CCTV manufacturers. In addition, decreasing prices and advanced features are adding growth to the CCTV market, making it affordable for even smaller firms to embrace the CCTV technology.
In their latest research study “Global CCTV Market Forecast 2022”, RNCOS analysts identify that the market for global CCTV is expected to grow at a CAGR of around 11% during 2018-2022. Also as per the research’s findings, IP CCTV cameras are revolutionizing security measures, and technology has evolved to allow for a more diverse security monitoring system through high resolution, larger digital storage options and compatibility for integrated analytical software’s, etc. Due to this capability, IP CCTV dominates the global CCTV market, as many of the organizations are updating or installing new IP-based surveillance systems.
On the technical front, IP Storage Area Network (IP SAN) is gaining momentum over digital and network video recorders (DVR/NVR) for storage, as it offers improved scalability, storage capacity, and retention. We observed that the threat of terrorism and an increase in crime rate have also fueled the evolution of video analytics.
To provide a clear picture, the CCTV market has been divided into three segments viz. by technology, components and services. By technology, the market is divided into Analog-based CCTV system, IP-based CCTV system, and wireless-based CCTV system; while by components, the market is divided into network camera, video analytics, video servers and video management software. The report also analyzes the video surveillance industry by its application in major sectors like retail, healthcare, education, transport and banking.
The report also offers a geographical picture of the CCTV market in five regions viz. North America, Europe, Asia, Latin America and Middle East. Additionally, through country level analysis, the report portrays the CCTV market in major countries like US, Canada, UK, China, India, etc., which includes study of market size, player’s level analysis, government initiatives and recent developments.
Also, with a view to understanding the competitive landscape, the profiles of key market players with business overview, key financials and recent developments have been included in the report to present a complete picture of the global CCTV market.