Market Overview:
Ubiquitous surveillance has become a norm with CCTV cameras monitoring traffic signals, educational institutes, healthcare infrastructures, airports, shopping malls and other places of significance. Market Research Future (MRFR) has published a report stating that the global CCTV Market is marked to expand remarkably at a CAGR of 20% by the end of 2020.
Market Drivers:
Rising crime rates and terrorist attacks all over the world is inducing high demand for improvements in the surveillance strategies of various regions. CCTV cameras provide a comparatively clear view and real-time information of the activities going around. Increased investments by government across the globe for mitigating the crime and terror attacks are leading to the significant expansion of the global CCTV market. Concerns regarding protection and safety of employees, especially female workforce are resulting in the rapid adoption of CCTV cameras in various organizations, which in turn is fueling the growth of the global CCTV cameras market.
Increasing number of manufacturers that are offering technologically advanced cameras that are equipped with night vision technology is impacting positively on the expansion of the global CCTV market. The widespread penetration of CCTV cameras in banking, healthcare and other sectors and high demand for advanced CCTV cameras in military and defense sector of various regions are some other factors that are driving the global CCTV market.
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Key Players:
The prominent players in this market include Hikvision Digital Technology, Honeywell Security, Bosch Security System, Safran Security, Dahua Technology, AssaAbloy, Tyco Security Products, Flir Systems, Samsung, and Axis Communications amongst others.
Industry Updates:
In October 2018, UAE-based Secure Cam IT Solutions has announced the launch of a major campaign to equip more than 1.5 Mn buildings with security camera solutions all over the world. The first phase of this campaign will be rolled out across thirteen countries, starting with India and the UAE.
Industry Segments
The CCTV market is divided on the types of CCTVs. The types include HD analogue, analogue and internet protocol cameras are the main types of CCTVs that are present in the market. The IP cameras segment type is further sub categorized into wireless IP cameras and wired IP cameras. In this category, The IP cameras are equipped to observe the maximum CAGR per cent in the due to technological advancements taking place in the industry.
The technology basis has divided the market into CCD and CMOS technology. The demand for CMOS technology is set to rise in approaching years owing to its user friendliness features. The CCTV industry is subdivided on end users basis into hospitals, religious places, real estates, hotels, educational centers, government, IT sector, retail, and transport sector. Amongst the end users category, the government sector is the biggest end user type for CCTVs. Their large demand share is credited to varied usage of CCTVs in government offices and on roads.
According to the channel structure, the market is further separated into retail channel and distribution channel. The principal share in the global CCTV market is credited to the distribution channel. The retail channel structure will also observe a high growth period in the forecast period.
Regional Analysis
Based on the geography wise division of the market, North America is the chief market for CCTV followed by Asia and Europe. The Asian market particularly China and India are focus points for the development of the CCTV market in the region. Factors such as Refining infrastructure, high economic growth and government initiatives in this region have further triggered the development of this industry.
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Global Competitive Analysis
Owing to the lucrative potential of this market, the contenders in the industry are aiming to grow their market portion to a by the usage of key assets to enable growth transformations which will be beneficial for the long run transformation of the sector. This outlook is favorable for the volume driven growth of the sector. Diverse products will increase the demand levels of the industry which will lead to speedy growth in the market. The industry is maintaining the growth potential of the market through continuous ongoing course advances and supporting financial flexibility to spend in the finest strategies when they arise.
The major players in this industry include Bosch Security System, Honeywell Security, AssaAbloy, Hikvision Digital Technology, Safran Security, Dahua Technology, Flir Systems, Samsung, Tyco Security Products, and Axis Communications amongst others.
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