CCTV Camera Market Overview
The Global CCTV Camera Market size was valued at USD 52.60
Million in 2018 and is expected to hit USD 31,190 Million by 2030 with a CAGR
of 13.2% from 2020 to 2030 (forecast period).
As the importance of security surveillance and community safety
increases, CCTV cameras also grow in deployment scale. The CCTV camera is a
basic equipment of surveillance employed for security and monitoring purposes.
The modernization of security solutions and 24x7 surveillance is a major driver
of the Global CCTV Camera Market. The CCTV camera market size was valued at $11 billion in 2020. In the
years succeeding 2020, the global CCTV market is all set for growth and further
development.
From public places to residential complexes, the deployment of
CCTV cameras has increased across many verticals. This expansion offers great
opportunities for CCTV camera market share to grow among
surveillance solutions. Earlier, people used to keep security guards and
patrolling teams for security purposes. This was especially true for
residential communities. However, the efficiency of human patrolling teams only
increases when there is technologically aided surveillance. CCTV cameras
brought about extra pair of eyes that monitored every nook and corner around
the clock. Thus, CCTV cameras make it easier for humans to provide security.
Unlike a human’s memory, the memory of a CCTV camera is very reliable as it
records every movement.
The Global CCTV Camera Market is set for growth as residential
complexes and public places deploy advanced security systems. Manufacturers of
CCTV cameras are introducing new features and improvements to increase the
surveillance efficiency of such systems. CCTV cameras are stepping out of
simple video recordings into higher-tech domains like IOT, superior facial
recognition, etc. Key players of the CCTV market are focusing on creating more
scalable, affordable options so that the benefit of surveillance extends to
different areas. The development of smart homes, the use of artificial
intelligence, and IOT will exert a positive influence on CCTV Camera Market Trends.
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Market segmentation
The Global CCTV market divides into different industrial
segments depending on different criteria. The most notable criteria of
segmentation are product, technology, application, resolution, and services.
The CCTV market divides into dome security cameras, bullet security cameras,
and thermal security cameras by product.
The setup is divided into an IP security camera and an analog
security camera based on the technology behind the cameras. Based on the
resolution, the cameras divide into HD and non-HD. Moreover, based on
application, the industry segments into residential, commercial, and industrial
scale. Based on services, the industry segments into professional and managed
services.
Regional Analysis
The CCTV market disperses over different regional markets
depending on revenue and the presence of key players in the area. The
individual revenue markets exert influence and contribute to collective revenue
for the global market. The major regional markets of CCTV market are North
America, Asia Pacific, Europe, and the Rest of the World. The North American
region will dominate the global market with the largest share of development
and revenue—investments into research and development of more advanced camera
systems in driving growth in the sector. The CAGR in the market will go higher
than 10 percent in the forecast period.
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Industry News
The CCTV camera industry is looking at many recent developments
that bring about the growth of the sector. For example, Axis Communications AB
introduced its advanced Axis M42 Network Cameras in May 2019. In April 2019,
Honeywell International collaborated with Intel Corporation to integrate AI
capabilities into video surveillance systems.
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Major Players:
Players leading the global CCTV camera market include Bosch
Security Systems (Germany), FLIR Systems, Inc (US), CP Plus International
(India), Hangzhou Hikvision Digital Technology Co., Ltd (China), Digital
Watchdog, Inc (US), Sony Corporation (Japan), Axis Communications AB (Sweden),
Honeywell International, Inc. (US), Dahua Technology Co., Ltd (China), and
Hanwha Techwin Co., Ltd (South Korea), and among others.
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
3.6 List Of Assumptions
4 Market Dynamics
4.1 Overview
4.2 Drivers
4.2.1 Growing Adoption Of Smart Homes
4.2.2 Increasing Awareness Regarding Security And Safety
4.2.3 Ease Of Installation
4.3 Opportunities
4.3.1 Advancement In Wireless IP Cameras
4.3.2 Emerging Smart City Initiatives
4.4 Challenges
4.4.1 Issues Regarding Privacy And Loss Of Data
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