Global CCTV Market: Overview
With millions of CCTV cameras monitoring individuals, places of historic importance, traffic signals, healthcare premises, educational institutes, airports, shopping malls, and every possible place or event of significance, ubiquitous surveillance has become a norm. The global CCTV market has obtained traction and regular product and technology developments are being introduced in the market on a regular basis.
The report on the global CCTV market gives a detailed outlook of the this market’s present state, its crucial segments, major driving forces, challenges, and trends, and an analysis of the combined impact of these factors on the future developmental prospects of the market. The report gives a forward-looking perspective for the market from 2016 through 2024 across major end-use industries, technologies, regional markets, and other major segments.
The report also gives a thorough overview of the competitive landscape of the global CCTV market, wherein details pertaining to market share, finances, revenues, product profiles, and market strategies of some of the most prominent vendors in the market have been given.
Global CCTV Market: Trends and Opportunities
The global CCTV market is driven by the rising crime rates and terror attacks across the globe and increased investments by governments and municipalities as ways of mitigating the same. Heightened concerns regarding safety and protection of employees and intellectual property among companies is also leading to the increased adoption of CCTV cameras in organizational infrastructures.
The rising number of companies offering technologically advanced products and services at competitive costs has led to increased traction of the market, especially in developing regions, in the past few years. The rising penetration of CCTV systems in the healthcare, banking, and retail sectors is also a major driving force for the global CCTV market.
Global CCTV Market: Segmentation
Some of the major application areas for the global CCTV camera market include fields such as BFSI (banking, financial services and insurance), healthcare, transportation, education, business, and retail.
On the basis of product type, the global CCTV market is segmented into varieties such as conventional, discreet, dome, and bullet CCTV cameras. On the basis of technology, the market is segmented into analog CCTV systems, wireless CCTV systems, IP-based CCTV systems, and hybrid CCTV systems. On the basis of surveillance components, the global CCTV market is segmented into CCTV camera, video surveillance storage mechanisms, and video surveillance software and analytics.
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Global CCTV Market: Region-wise Outlook
Geographically, the global CCTV market has been segmented into Asia Pacific, Europe, North America, and Rest of the World (RoW). The CCTV market has attained maturity in developed regions such as Europe and North America and earns steady revenues from these regional markets. The market is performing well in developing parts of Asia Pacific and is expected to see the fastest growth in the region owing to the huge demand from several end-use sectors in countries such as India and China over the forecast period.
China, being the global leader when it comes to electronics, holds a crucial position in the global CCTV market and is a major revenue generator. Over the forecast period as well, the global CCTV market is expected to gain a major share in revenue from China.
Global CCTV Market: Competitive Landscape
The market features intense competition with several players operating across the major sectors of the global CCTV market: Product manufacturing, software product development, and services. The significant demand for products with high precision, excellent video quality, and innovative features such as facial recognition have prompted product manufacturers and software developers to introduce technologically advanced products. The presence of several prominent vendors in the market has also led to intense cost reductions and the availability of several product varieties at competitive prices.
Some of the major vendors operating in the global CCTV market are Samsung Techwin, Honeywell International Inc., Baxawell, Hikvision, Toshiba Corporation, Panasonic System Network Co. Limited, Schneider Electric, Axis Corporation, ADT Security Systems, Bosch Security Systems Inc., Checkpoint system, Vicon industries, and Mitsubishi Electric.
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