CCTV Market Research Report- Forecast till 2030
Market Highlights
The global CCTV market is witnessing substantial revenue rise with the rising adoption of CCTV security systems across residential, industrial, commercial, and infrastructural sectors. Besides, the increasing awareness of the benefits of CCTV solutions in security and monitoring systems drives market growth.
The rising uptake of CCTV solutions in integrated loss control and security systems to control losses in businesses, such as theft, pilferage, shoplifting, and fraud, boosts the market size. Market Research Future (MRFR) confirms that the global CCTV market valuation is poised to reach approximately USD 46.52 Billion by 2030, registering a 13.1% CAGR throughout the review period (2020-2030).
CCTV systems provide highly efficient and cost-effective pre-integrated business and security solutions in a variety of sectors, including retail, manufacturing, trading, and processing industries. The growing trend of using strategically placed CCTV-enabled security manning solutions in vulnerable areas to successfully identify sources of irregularities and losses substantiates the market demand.
Additionally, increasing installations of CCTV-enabled surveillance systems for public security and protection influence the market value. Increasing installations of CCTV solutions with recording facilities covering all sensitive areas of law enforcement propel market sales. On the flip side, privacy and data breach concerns and high costs associated with the purchase and maintenance of CCTV solutions are major factors projected to impede the market growth.
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Segmentation:
The report is segmented into camera types, technologies, end-users, and regions. The camera type segment is sub-segmented into IP and analogue. The technology segment is sub-segmented into CMOS, CCD, and others.
The end-user segment is sub-segmented into hospitals, hotels, real estate, IT, and other sectors. The distribution channel segment is sub-segmented into online and retail. Further, by region, the market is sub-segmented into the Americas, Asia Pacific, Middle East & Africa (MEA), Europe, and Rest-of-the-World.
Global CCTV Market – Regional Analysis
North America leads the global CCTV market, witnessing increasing implementations of network-based video surveillance solutions across the region. Besides, the extensive adoption of CCTV systems in the residential, commercial, and industrial sectors drives the market growth in this region. The spurring rise in end-use industries and rising public & personal safety needs create substantial market demand. The US market accounts for the dominating share in the regional market.
Europe stands second in the global CCTV market, headed by the increasing uptake of surveillance solutions in government establishment and public protection systems. Additionally, the growing adoption of cloud-based surveillance systems and services for indoor and outdoor security measures fosters the region’s market shares. The increased adoption of CCTV cameras in the commercial landscape substantiates the market value.
APAC has evolved as a promising market for CCTV solutions globally. Factors such as the multiple infrastructure development projects and a large population requiring surveillance & monitoring technologies boost market revenues. Moreover, continuous technological advancements and the strong presence of CCTV and component manufacturers push the regional market growth.
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Global CCTV Market – Competitive Analysis
Highly competitive, the CCTV market appears fragmented, with several well-established players forming a competitive landscape. These companies incorporate approaches such as mergers & acquisitions, collaborations, expansion, and technology/product launches, expanding their operations and offerings.
They strive to develop solutions that can deliver a suite of application offerings for end-use industries’ needs. Using time-tested methodologies and best practices, manufacturers try to bring disparate point systems together from multiple providers into security measures and integrated environments that can address requirements of occupants’ safety and security.
Major Players:
Players leading the global CCTV market include Honeywell Security, Bosch Security System, Hikvision Digital Technology, Dahua Technology, Assa Abloy, Safran Security, Flir Systems, Samsung, Tyco Security Products, and Axis Communications, among others.
Industry/ Innovation/ Related News
Feb. 25, 2022 — Jorex Lorex India launched technologically advanced CCTV systems to bridge the gap in securities in the country. The company’s technologically advanced CCTV security systems would address increasing crime rates. Jorex Lorex strives to use superior technology with high-quality lenses that can improve the recording quality to serve the needs of all kinds of spaces and customers.
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CCTV Market [By Camera Type (IP, Analogue) By Technology (CMOS, CCD) By End User (Hospital, Hotel, Real Estate, IT Sector) By Channel (Distribution, Retail) By Country (India, China, USA, Canada, France, Germany, Italy, Spain)] – Forecast to 2030
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