CCTV Camera Market

Market Study on CCTV Cameras: Popularity of AI-driven Cameras Soaring

CCTV Cameras Market Segmented By Dome Camera, Bullet Camera, Box Camera, PTZ Camera with HD CCTV Camera, IP / Network Camera, Analog Camera Technology

CCTV Camera Market Outlook (2022 – 2032)

Global CCTV camera market revenue totaled US$ 13.3 Bn in 2021. Expanding at a CAGR of 12%, sales of CCTV cameras are predicted to reach a market value of US$ 45.7 Bn by 2032.

CCTV Camera Market Size (2022)

US$ 14.7 Bn

Projected Market Value (2032)

US$ 45.7 Bn

Global Market Growth Rate (2022-2032)

12% CAGR

Top 5 CCTV Camera Suppliers’ Market Share

35%

CCTV camera systems are gaining traction as the demand for smart and intelligent surveillance is increasing. Dome cameras, PTZ cameras, fixed bullet cameras, wireless cameras, C-mount cameras, and high-definition cameras are the various CCTV camera types widely used for surveillance purposes across the world.

Cloud integration with CCTV cameras allows faster, secure, and safer surveillance. Cloud-based CCTV cameras come with a dedicated app that enables users to access a particular area from anywhere.

At present, CCTV camera sales represent nearly 25% of the global video surveillance market.

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Companies

  • Hikvision
  • Honeywell
  • Panasonic
  • Axis Communications
  • FLIR Systems
  • Sony Corporation
  • LG Electronics
  • CP PLUS
  • Samsung
  • Dahua Technology Co., Ltd.
  • Bosch Security Systems
  • Hanwha Techwin
  • AVTECH Corp.
  • Sanyo
  • IDIS

CCTV Camera Demand Analysis (2017-2021) Compared to Industry Forecasts (2022-2032)

CCTV camera demand is estimated to soar at 12% CAGR from 2022 to 2032 in comparison with the 8.4% CAGR registered during 2017 to 2021. Today, governments and security management professionals around the world rely heavily on video surveillance as a tool to fight crime and prevent terrorist activities.

The capabilities of CCTV systems have been transformed by fundamental shifts in how digital data is gathered, analyzed, shared, and stored. CCTVs are already playing a key role in driving the development of smart cities. Also, various government facilities, critical infrastructure of countries, transportation, and traffic control activities are now monitored and controlled through surveillance systems such as CCTV equipment.

Smart CCTV cameras at traffic signals monitor vehicular traffic and regulate the wait-time accordingly. These cameras also have the ability to read traffic number plates. To fulfill this humongous need of governments, demand for various surveillance systems and services is increasing rapidly. This will push the demand for CCTV cameras in the transport and government sectors.

The global CCTV camera industry is anticipated to witness a surge in revenue from US$ 14.7 Bn in 2022 to US$ 45.7 Bn by 2032.

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Why is the CCTV Camera Market Set for Rapid Expansion Going Ahead?

“High Need for Critical Infrastructure Protection”

Assets, systems, and networks, whether physical or virtual, of the critical infrastructure sector are considered vital for modern economies. Such critical infrastructure includes chemicals, communication, dams, emergency services, defense, financial services, energy, government, transportation, IT, food, and agriculture. Relentlessly monitoring critical infrastructure can help prevent accidents even before they occur.

In addition, using technologies such as sensors and video surveillance can reduce the cost of monitoring significantly, while adhering to state and federal regulations. Monitoring critical infrastructure helps in increasing return on investment in overall technology deployment, including improved quality of life, uninterrupted services, and enabling citizen engagement.

Owing to such factors, there has been a huge rise in the demand for critical infrastructure protection solutions and services across different industry verticals, which bodes well for CCTV camera suppliers.

“Rising Demand for IoT-based CCTV Cameras”

IoT plays an important role in offering convenient solutions to critical infrastructure. The market has observed further integration of IoT into the advanced CCTV camera technology ecosystem.

IoT enables cameras to become more alert and dynamic, and helps them play an active role in surveillance and crime deterrence. To fight theft, violence, vandalism, or fires efficiently, new-generation CCTV cameras detect and interpret suspicious incidents by themselves. These CCTV cam systems also have the capability to cooperate with other systems, such as alarm systems.

IoT connects network-enabled cameras with other devices and systems that perform other tasks and turns security surveillance into smart, safe, and secure management. This will significantly improve security and security-related processes in many areas and industries by enabling faster and more insightful response to any sort of incident.

cctv-camera-market

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Country-wise Insights

How Big is the Opportunity for CCTV Camera Manufacturers in India?

The South Asia & Pacific region is predicted to remain one of the most attractive markets for CCTV camera sales. According to the study, the market in India is estimated to grow 6X over the decade.

Rising terrorism and criminal activities can be perceived as a major factor responsible for the increased adoption of CCTV camera systems by governments across India. Also, the need for effective transportation and traffic management has led to the rising adoption of camera surveillance systems.

In India, the commercial and industrial sectors are also demanding CCTV systems. CCTV manufacturing companies are focusing on reaching out to untapped and rural areas of India to increase the scope of application of CCTV cameras. This expansion will help companies improve their customer base.

Rural markets in India have huge growth potential. In order to target these markets, CCTV device manufacturers should focus on lowering the price range of CCTV cameras.

Why is Demand for CCTV Camera Rising Rapidly in Japan?

CCTV camera demand in Japan is expected to account for nearly 46.3% of the East Asia market share through 2032.

In Japan, public safety agencies are heavily investing in emerging technologies for providing efficient safety solutions. These include smart applications that securely link radio networks to users carrying smart wearable devices, smartphones, video monitoring devices, and others, which can be used for enhancing the security of the population in the country.

Moreover, with increasing crime rates, terrorist attacks, and anti-social behavior, the Japanese government is adopting new technologies and strategies for ensuring public safety and security. It has become essential to find cost-effective solutions for responding to devastating attacks. This further adds momentum to market growth and creates huge opportunities for CCTV camera makers in Japan.

What are the Sales Prospects for CCTV Cameras in GCC Countries?

CCTV camera sales revenue in GCC Countries is estimated to increase at an impressive rate of around 18% CAGR through 2032. In the oil & gas industry in GCC countries, extreme and remote environments such as oil rigs and coal mines, where gases could cause explosions and fires are crucial to be monitored.

Traditional video surveillance is complex to install in these situations. With the latest computing and communications technology, these extreme environments can now be monitored from a remote station. Latest technology in IoT cameras, in-site edge computing devices, industrial rugged remote surveillance NVRs, and built-in mobile broadband capabilities can all make this possible.

IP CCTV cameras and edge systems need to be hardened. Enclosed stainless cases, special materials, or built-in double cases with cooling liquids can help these systems tolerate high and low temperatures and high radiation levels.

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Category-wise Insights

Why is the Popularity of PTZ Cameras Soaring?

PTZ camera systems are expected to showcase a higher market share over the coming years. This segment is predicted to increase by an absolute opportunity of US$ 7.95 Bn by the end of 2032.

Demand for PTZ cameras is increasing as these are wide-angle cameras that are used for large coverage areas. PTZ cameras can rotate vertically as well as horizontally to zoom in and out for every small detail. Robotic movement is possible in these cameras due to built-in motors that can be controlled through software or apps.

PTZ camera technology is important for the procurement of sharp images and videos that are necessary for recognizing or identifying people, vehicles, or trespassers.

Why is Demand for CCTV Camera Equipment High from the Residential Sector?

Residential CCTV cameras are expected to witness demand growth at a high CAGR of 15.2% over the forecast period.

Demand for CCTV systems is increasing in the residential sector to ensure personal safety. Rarely will anyone attempt to intrude when they know their actions are being recorded on camera. In addition, surveillance cameras protect against property theft and vandalism.

Also, having cameras in public places makes people feel safer knowing that a mugger or attacker will be put off due to the presence of a camera. At present, cameras, through video analytics, have the ability to zoom in to reveal individual identities, which can aid in crime prevention.

Thus, heavy investments for secure residential and public infrastructure is one of the major factors driving CCTV camera demand growth in the residential sector.

How are AI-based CCTV Cameras Driving Market Growth?

AI-based CCTV cameras are estimated to register a high CAGR of 13.8%. AI-based CCTV cameras have advanced analytical functions such as automated face detection, people counting, traffic counting, vehicle detection, and advanced video analytics software, which are in-built into the camera and recorder and enable Artificial Intelligence (AI) functions.

Manufacturers of CCTV cameras are now focusing on incorporating these automated detection capabilities powered by AI to detect and send alerts in real-time for efficient public security and surveillance. Traditional CCTV surveillance is now being replaced by smarter modern surveillance systems to analyze the data/feed on-site.

As per the AI Global Surveillance (AIGS) Index, nearly 75 out of 176 countries across the world are actively using AI-based surveillance technologies. Such developments and integration of AI/ML technology into surveillance systems will support the high adoption of AI-based CCTV cameras over the decade.

CCTV Camera Industry Report Scope

Attribute

Details

Forecast Period

2022-2032

Historical Data Available for

2017-2021

Market Analysis

US$ Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • The Middle East & Africa

Key Countries Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Malaysia
  • Indonesia
  • Singapore
  • Australia & New Zealand
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key Market Segments Covered

  • Camera Type
  • Technology
  • End User
  • Region

Key Companies Profiled

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

CCTV Camera Industry Research by Category

CCTV Camera Market by Camera Type:

  • Box Cameras
  • Dome Cameras
  • PTZ Cameras
  • Fixed Bullet Cameras
  • Others

CCTV Camera Market by Technology:

  • Analog-based CCTV Cameras
  • IP-based CCTV Cameras
  • AI-based CCTV Cameras

CCTV Camera Market by End User:

  • Residential CCTV Cameras
  • Commercial CCTV Cameras
    • Banks & Financial Institutions
    • Educational Institutions
    • Retail Complexes
    • Healthcare Facilities
    • Transportation infrastructure
    • Others
  • Industrial CCTV Cameras
    • Manufacturing Plants
    • Power Plants
    • Others
  • Government & Defense CCTV Cameras
    • Government Offices
    • Military Bases

CCTV Camera Market by Region:

  • North America CCTV Camera Market
  • Latin America CCTV Camera Market
  • Europe CCTV Camera Market
  • East Asia CCTV Camera Market
  • South Asia & Pacific CCTV Camera Market
  • Middle East and Africa (MEA) CCTV Camera Market

- FAQs -

South Asia & Pacific is projected to register strong market growth, exhibiting a CAGR of 16.6% through 2032.

 

The global CCTV camera market was valued at US$ 13.3 Bn in 2021, and is estimated to reach US$ 45.7 Bn by 2032.

The market expanded at a CAGR of 8.4% from 2017 to 2021.

Integration of Artificial Intelligence (AI) and Internet of Things (IoT) with CCTV cameras is driving market growth.

China, the U.S., South Korea, and Japan are prominent suppliers of CCTV systems.

Top 5 countries driving most demand for CCTV cameras include China, the U.S., South Korea, India, and Japan.

Europe is predicted to remain one of the most attractive markets with the U.K. expected to account for 25.2% market share.

CCTV camera sales in Japan and South Korea were valued at US$ 911.6 Mn and ~US$ 673 Mn, respectively, in 2021.

Some of the leading manufacturers of CCTVC cameras are Hikvision, Panasonic, CP Plus, Pelco, Honeywell, Samsung, Dahua Technology, IDIS, and Axis Communication.

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