Asia set to dominate $23.3BN global CCTV surveillance market by 2024 as China ramps up expenditure, According to A New Report on ASDReports

Monday 2 June 2014, Amsterdam

New analysis published today, now available on ASDReports, has predicted that Asia is will account for as much as 40.5% of the global CCTV market by 2024, mainly as a result of significant surveillance investment by the People’s Republic of China.  The huge emphasis that the country is currently placing on enhancing its surveillance capabilities and the building of numerous ‘safe cities’ means that the new report expects Chinese expenditure to total an estimated $3.4bn in 2014 alone, placing it well above its closet regional rivals.

The new report entitled CCTV Video Surveillance Systems Market 2014-2024: Equipment & Technologies: Digital IP, Analogue, Management & Analytics, forecasts spending on CCTV systems worldwide over the period 2014 to 2024.  During this time, visiongain predicts that stiff competition from established domestic firms and strong barriers-to-entry in China will limit the number of opportunities available to foreign firms, but emphasises that continued success is expected for companies that can offer sophisticated analytical software and management tools, as this is likely to remain an area of Chinese weakness.

Elsewhere, prospects for CCTV vendors are likely to remain significant, especially in Europe and North America.  Here, many public and private operators will continue to make the transition from analogue products to network-based systems.

The lead security researcher said,  “Certainly, although many enterprises with large CCTV investments continue to express reluctance to update their systems wholesale, granting management specialists substantial revenue, almost all new security efforts now involve IP rather than analogue equipment. This is a trend that is being reinforced in the South American market, where nations such as Brazil look to ensure the safety and security of their critical national infrastructure and sporting establishments by purchasing the latest off-the-shelf products.

Critical among these are the latest pieces of analytical software, which in contrast to typical management tools, can presently automatically identify persons, vehicles, or objects of interest, without any input from operators themselves. Such capabilities are only likely to increase in the future, and will witness increased use in security conscious nations such as the United States, the U.K., Israel, and others that possibly have high-crime rates. Consequently, we believe that the CCTV market is set to undergo definitive change over the next ten years, with technological improvements and varying regional expenditure altering both the ways in which CCTV is utilised and how strongly nations use it.

Ultimately, this will increase the global market total of $23.3bn which is likely to be spent on CCTV products in 2014, although undoubtedly a relative decline is likely in several regions towards 2024, following a period of strong investment.”

A detailed analysis of the latest political, economic and technological trends lies at the heart of  quantitative and qualitative analysis of the CCTV market. CCTV Video Surveillance Systems Market 2014-2024: Equipment & Technologies: Digital IP, Analogue, Management & Analytic Analytics provides 334 pages of thorough quantitative and qualitative analysis of the global CCTV market, 4 submarkets, 15 relevant national markets, 5 regions and 12 leading companies, along with 268 tables and charts, 419 companies and other organisations mentioned and 272 commercial contracts detailing major ongoing programmes. The analysis also presents revenues from the CCTV market for each company profiled alongside analysis of market prospects.

The report also includes a detailed qualitative strengths, weaknesses, opportunities and threats (SWOT) analysis of the CCTV market underpinning the forecasts for the period 2014-2024. CCTV Video Surveillance Systems Market 2014-2024: Equipment & Technologies: Digital IP, Analogue, Management & Analytics therefore provides an unrivalled level of detail in its analysis of market trends and commercial prospects.

The report’s findings are reinforced by an exclusive expert interview with Intelligent Security Systems (ISS), one of the leading companies in the CCTV market.

CCTV Video Surveillance Systems Market 2014-2024: Equipment & Technologies: Digital IP, Analogue, Management & Analytics is an invaluable reference offering extensive market analysis and evaluation of future commercial prospects.