CCTV Camera Market Overview
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 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). CCTVs are becoming crucial in today’s world.
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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CCTV Camera 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.
CCTV Camera Market 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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CCTV Camera 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.
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.
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