CCTV Market 2020 Global Leaders Analysis: Dahua Technology, AssaAbloy, Flir Systems, Samsung, Hikvision Digital Technology, Honeywell Security, Bosch Security System

Market Research Future published a research report on “CCTV Market Research Report - Forecast to 2020” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2020.

Market Synopsis

The global CCTV market is growing profusely, witnessing rising adoption of CCTV cameras across commercial, residential, industrial, and infrastructural sectors. Besides, the increasing awareness of surveillance technologies for safety and security purposes drives the growth of the CCTV industry. Moreover, the rising uptake of IP surveillance to manage social distancing during COVID-19 challenges escalates the market valuation.

According to Market Research Future (MRFR), the global CCTV Market valuation reached USD 19 BN in 2015, which is expected to grow at approximately 20% CAGR during the review period (2016-2020). The increased adoption of IP-surveillance in perimeter security, alongside the rising trend of smart homes, boosts the market size. IoT in video surveillance has led to a steep rise in the demand for IP-based camera systems.

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COVID 19 challenges have stirred industries, making facemasks as an integral part of public life. Facemasks have disturbed the functioning of CCTV cameras and surveillance devices for which the government and private entities have spent an enormous sum. Law enforcement agencies are grappling with the inability to detect faces using surveillance devices.

With mask culture set to remain in vogue and the soaring unemployment rate, organized criminals and violent groups soar are expected to soar to new heights. To support challenging criminal investigation and security agencies law & order maintenance, industry players are developing AI-based solutions enabling detect & monitor COVID-19 related anomalies.

These benefits of AI capabilities enable real-time monitoring of any location through a contact-free setup and smart alarm systems. On the other hand, low awareness in the developing countries regarding advanced CCTV products is a major challenge projected to impede market growth. Nevertheless, increasing uptake of the technology would support market growth throughout the assessment period.

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.

Market Segmentation

The report is segmented into five dynamics;

• By Camera Type: Analogue Camera, HD Analogue Camera, Internet Protocol (IP) Camera (Wired and Wireless), and others.
• By Technology: CMOS Technology and CCD Technology.
• By End User: Educational Centers, Hospitals, Hotels, Real Estates, Religious Places, Government, Retail, IT Sector, Transport Sector, and others.
• By Channel: Distribution Channel and System Integrator/Retail Channel.
• By Regions: Europe, North America, Asia Pacific, and the Rest-of-the-World.

Regional Analysis

North America dominates the global CCTV market. The largest market share attributes to the rising needs for public and personal safety. Besides, the extensive adoption of advanced CCTV technologies to meet the growing demand for office safety and working premises drives the growth of the market in the region.

Moreover, the spurting growth in end-use industries creates opportunities for the market to grow colossally. The US market, among other North American countries, accounts for the dominating share in the region. The North American CCTV camera market is expected to retain its dominance throughout the forecast period.

The Europe CCTV market accounts for a considerably large share globally in terms of both size and volume. The market growth is fostered by the increasing uptake of surveillance solutions in government establishment and public protection policies. Additionally, the growing adoption of cloud-based surveillance services by small and large organizations fosters regional market growth.

Furthermore, the increased adoption of CCTV solutions in the region substantiates the development of the market. The European market for CCTV camera market is expected to grow at n impressive CAGR during the review period.

The Asia Pacific region has evolved as a promising market for CCTV globally. Factors such as the multiple infrastructure projects and a large population requiring surveillance boost the growth of the regional market. Moreover, continuous growth in technologies and the strong presence of several CCTV component manufacturers drive the growth of the regional market.

Increasing awareness about technological developments is a key driving force driving the demand in the APAC market. The APAC CCTV camera market is projected to grow at a high CAGR during the assessment period.

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