Market Overview: —
Ubiquitous surveillance has become a norm with CCTV cameras monitoring traffic signals, educational institutes, healthcare infrastructures, airports, shopping malls and other places of significance. Market Research Future (MRFR) has published a report stating that the global CCTV Market is marked to expand remarkably at a CAGR of 20% by the end of 2020.
Rising crime rates and terrorist attacks all over the world is inducing high demand for improvements in the surveillance strategies of various regions. CCTV cameras provide a comparatively clear view and real-time information of the activities going around. Increased investments by government across the globe for mitigating the crime and terror attacks are leading to the significant expansion of the global CCTV market. Concerns regarding protection and safety of employees, especially female workforce are resulting in the rapid adoption of CCTV cameras in various organizations, which in turn is fueling the growth of the global CCTV cameras market.
Increasing number of manufacturers that are offering technologically advanced cameras that are equipped with night vision technology is impacting positively on the expansion of the global CCTV market. The widespread penetration of CCTV cameras in banking, healthcare and other sectors and high demand for advanced CCTV cameras in military and defense sector of various regions are some other factors that are driving the global CCTV market.
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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.
The global CCTV market has been segmented on the basis of type, technology, end-users and channel. Based on type, the CCTV market has been segmented into analogue, HD analogue, and internet protocol cameras. The internet protocol cameras segment has been sub-segmented into wired IP cameras and wireless IP cameras.
Based on technology, the CCTV market has been segmented into CMOS and CCD technology. The CMOS technology segment is anticipated to expand at a higher growth rate in the coming years due to its user-friendliness. Based on end users, the CCTV market has been segmented into educational centers, hospitals, hotels, real estates, religious places, government, retail, IT sector, and transport sector. Among these end users, the government segment holds the largest share in the global CCTV market owing to the high utilization of CCTVs in government offices and on roads for traffic control.
Based on channel, the CCTV market has been segmented into distribution channel and retail channel. The distribution channel segment holds major share in the global CCTV market.
Geographically, the global CCTV market has been segmented into North America, Europe, Asia Pacific and the rest of the world. The North America region is anticipated to project dominance over the global CCTV market owing to the easy adoption of advanced technology for premise surveillance purposes and increasing demand for CCTV cameras in various application areas in this region. The CCTV market in the Asia Pacific region is expanding significantly due to the high demand for CCTV cameras in rapidly improving infrastructure in this region. Increasing demand for highly effective surveillance strategies in various sectors is inducing high demand for CCTV cameras in the Europe region.
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In October 2018, UAE-based Secure Cam IT Solutions has announced the launch of a major campaign to equip more than 1.5 Mn buildings with security camera solutions all over the world. The first phase of this campaign will be rolled out across thirteen countries, starting with India and the UAE.
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