Video surveillance has gained immense popularity across the globe due to rising concerns for security and safety. This created demand for technically advanced surveillance system, thereby, creating huge growth opportunities for CCTV manufacturers, operators, and distributors. In addition, declining 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, “CCTV Market Outlook 2017”, our analysts identified that the market for the global CCTV is expected to grow at a CAGR of around 14% during 2013-2017. As per our research findings, analog CCTV cameras currently dominate the global CCTV market, but the scenario is changing with network IP emerging as the leading technology. The report discusses the factors that will drive the IP technology market in near future.
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.
In the report, CCTV technology has been covered in the detail including surveillance technology and surveillance components. For market analysis, the global CCTV market has been discussed by technology, component, service and region. In addition, the report covers the potential growth areas for CCTV like retail, healthcare, education, transportation and banking sector. Through this, our analysts have done a thorough opportunity assessment in these sectors and highlighted the sectors that offer maximum opportunity for growth.
Further, for regional analysis revealed that Asia and Middle East will gain significant share in the global CCTV market in the coming years. India and China with their huge population base will be the key drivers in the Asian market. The report also discusses the CCTV market in major countries like the US, Canada, the UK, Italy, Germany, and Russia, among others, and presents forecast for almost each nation. We have chosen these countries for the purpose of our study, keeping in view the current market trends and growth potential.
Besides, our team also analyzed the profiles of key players like Honeywell and Bosch etc., present in the CCTV global market. Overall, the comprehensive research aims at providing an unbiased picture of the global CCTV industry to help clients understand the market dynamics and make sound investment decisions accordingly.