CCTV (Closed circuit television) is the utilization of video cameras to communicate a signal to a particular place, on a limited set of monitors. It is basically a system in which signals are not publicly distributed but are examined, majorly for closed observation and security purposes. The CCTV’s are frequently utilized for surveillance in locations that may require regular monitoring such as casinos, banks, military installations, airports, shopping malls, convenience stores, etc. Apart from this, CCTV cameras have wide applications across the globe by government institutions to reduce and avoid domestic and international security threats. The CCTV cameras have gained traction across the world due to inclining concerns for safety and protection.
This has ultimately generated the demand for technically advanced CCTV surveillance system, thus strengthening huge growth prospects for CCTV industrialists, distributors and operators. Apart from this, drop in prices and innovative features are intensify the growth of CCTV camera market, making it reasonable for even smaller companies to incorporate CCTV technology. The global CCTV camera market has showcased significant growth over the past few years and is anticipated to generate substantial revenue in future till 2025. The global CCTV camera market is projected to grow at a robust CAGR over the period 2015-2025. Increasing crime rates and terror attacks has fuelled the demand for CCTV’s which is likely to be profitable for suppliers and vendors in the global CCTV camera market.
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Global CCTV Camera: Market Segmentation
The global CCTV camera market is segmented on the basis of type of systems such as analog, hybrid and IP. The global CCTV camera market is also divided by type of styles such as bullet CCTV camera, dome CCTV camera, discreet CCTV camera, and traditional camera. The global CCTV camera is further bifurcated by application areas such as healthcare sector, retail sector, education sector, banking sector, transport sectors and others. The global CCTV camera market is also segmented on the basis of surveillance components which includes camera such as analog and IP cameras, Video surveillance storage including digital video recorder, network video recorder and IP San, video surveillance software and analytics such as video management system and intelligent video surveillance, video servers and video surveillance monitors.
Global CCTV Camera Market: Growth Drivers
Rising penetration of CCTV’s in education, hospital and retail sectors are the major drivers of global CCTV camera market. Besides this, rising terrorism and threat of crime are also fostering the demand for CCTV and thus stimulating the growth of CCTV camera market. The IP based CCTV cameras will bolster the growth of global CCTV camera market over the period 2015-2025. It has been noticed that, IP Storage Area Network is gaining traction over digital and network video recorders for storage as it proposes enhanced scalability, retention and huge storage capacity. Apart from this, high definition and megapixel cameras are rapidly escalating the growth of the global CCTV camera market. In future, the gigapixel cameras are anticipated to intensify the global CCTV camera market during the period 2015-2025.
Global CCTV Camera Market: Regional Outlook
Geographically, the Global CCTV Camera industry can be divided by major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa. The Asian region captured the highest share in the overall revenue of global CCTV camera market in 2014. In the coming few years, India and China are expected to be the major market in the Asian CCTV camera market. North America and Europe stood at second and third position in the total revenue of the global CCTV camera market in 2014. North America is one of the most competitive markets across the globe with various regional players and a few large international players. In the next few years, Middle East and Africa is anticipated to attain substantial share in the global CCTV camera market till 2025.
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Global CCTV Camera Market: Players
Some of the key vendors identified across the value chain in the global CCTV camera market include Bosch security systems Inc., Honeywell International Inc., Panasonic System Network Co. Limited, Axis Corporation, Toshiba Corporation, Samsung Techwin, and Vicon industries. Besides this, other players include Mitsubishi Electric, Schneider Electric, Checkpoint system, Baxawell, and ADT fire and security.