Increasing security concerns among people have increased the use of CCTV cameras worldwide. CCTV is the use of video cameras to transmit signals to a specific place on a designated device. It may employ point to point (P2P), point to multipoint or mesh wireless links. Applicable for surveillance in areas that may need monitoring such as banks, casinos, airports, military installations and convenience stores. CCTV systems may operate continuously or only as required to monitor/capture a particular event. A new research report by Persistence Market Research highlights the scenario of the global CCTV camera market – the report is titled “CCTV Camera Market: Global Industry Analysis 2012-2016 and Forecast 2017-2025.” This comprehensive research report highlights the factors that are impacting the growth of the global CCTV camera market. According to the analysis, the global CCTV camera market is expected to reach a market value of over US$ 29,800 Mn by the end of 2025, growing at a stellar CAGR of 15.7% during the forecast period. This exceptional growth is the result of introducing new and advanced technology enabled cameras in the global market and also owing to rising safety concerns in both residential as well as commercial areas.
Trends and Opportunities
Companies in the global market are focusing on reaching untapped and rural areas to increase the scope of application for CCTV cameras. This expansion will help companies improve their customer base. The rural markets in developing regions have huge growth potential. In order to target these markets, manufacturers can lower the prices of CCTV cameras, as these are price sensitive markets. There are also increasing safety concerns in various regions. Manufacturers are now focusing on advancing the technologies used in CCTV cameras so as to attract more customers. Among other trends the global CCTV camera market is expected to witness a rise in the usage of IP address based cameras.
- Based on region, Asia Pacific is way ahead of all other regional markets in terms of market size and growth rate. The APAC CCTV camera market is expected to reach a market value of over US$ 11,800 Mn by the end of 2025, growing at a CAGR of 17.1%. North America takes the second position among the regions and is expected to be an attractive regional market during the forecast period.
- Based on camera type, dome camera is expected to a highly lucrative segment with an expected market size of over US$ 10,500 Mn by the end of 2025, growing at an exponential CAGR of 17.1% during the forecast period. Bullet camera is also expected to be an attractive segment in the global CCTV camera market.
- Based on Technology, the IP/Network camera segment dominates the market with the highest growth rate whereas, analog camera exhibits the highest market size during the forecast period.
- Based on end user, the residential segment dominates the market with the highest growth rate. However, the commercial segment has the highest market size during the forecast period.
The research report consists of a brief profile of all the major players in the industry. Some of these key players included in the report are Hangzhou Hikvision Digital Technology Co. Ltd, Dahua Technology Co., Ltd., Bosch Security Systems, Hanwha Techwin Co. Ltd., FLIR Systems, Inc, Honeywell International Inc, CP PLUS International, Sony Corporation, Digital Watchdog, Axis Communications AB etc.
To know more about the global CCTV camera market, reach the team of analysts at email@example.com