Press release
CCTV Market Analysis, Growth Forecast and Industry Trends | Top Key Players are Honeywell Security, Hikvision Digital Technology, Bosch Security System, Dahua Technology, Safran Security, AssaAbloy and Flir Systems
CCTV Market
CCTV means closed-circuit television. It is also known as video surveillance. Closed-circuit does the function of transmitting video data of limited monitors. Security regarding personnel, organization’s information, property, etc., is very much required. CCTV relieves all stress related to these assets. It is commonly used for traffic monitoring, watching public movements in commercial places, detecting criminal activities, etc. With an increased demand for CCTV’s in both industrial and residential segments, the CCTV market is always increasing.
Even in the worst pandemic situation of COVID’19, the usage of CCTV was tremendous. Many hospitals utilize it to monitor the patients in the hospital. The situation was so bad that the respective Government declared CCTV cameras mandatory in hospitals. But the pandemic has affected the manufacturing units due to the complete shutdown declaration by the Government. Many manufacturing companies had to face a loss of revenue due to lockdown. Not only the CCTV market, but the pandemic situation has also affected the entire electronic sector globally. Since the situation is coming back to control, the CCTV market is seeing growth slowly.
Not only in India, but the threat of terrorism, thefts, and other such crime rates have also forced the usage of CCTV cameras all over the globe.
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Segmentation:
CCTV market can be segmented based on type, offering, geography, and end-users. Based on type it is divided into PTZ cameras, Analog cameras, and IP cameras (does not include PTZ). Based on end-users, it is divided into Government, Residential, Industrial, Transportation, BFSI, Healthcare, Hospitality, Retail, and Educational Institutions. Based on offering, the CCTV market can be divided into hardware, software, and services.
When the Global CCTV market is considered, it is segmented based on geography and is further divided into North America, Asia- Pacific, Europe, South America, the Middle East, and Africa.
Regional classification
There is a chance for the CCTV market to shift from its traditional analogue video surveillance to network camera solutions. This leads to an increase in the CCTV market. The reason behind this change is that IP-utilised cameras utilized for network camera solutions produce sharper, high-definition digital images that are very important in video analytics. The increase in IP cameras has resulted in a decrease in prices, further increasing its adaptability. When commercial, residential and industrial segments are compared based on usage, the commercial segment is expected to contribute more to the CCTV market than the residential or industrial segment. When the analysis is done region-wise or geography, the CCTV market is a boom in Asia- Pacific as the demand for CCTV’s is comparatively higher in India and China. As China is the global leader for electronics, it holds the major share of the CCTV market.
Industry news
When the Indian market is analyzed, the CCTV market is expected to reach a CAGR of 22.35% by the end of 2026. The government regulations have also contributed to the increase of the CCTV market. Various related technological improvements led to a situation where various partnerships and mergers are taking place. Even the rise in concern for safety and security is the main reason behind the CCTV market's growth.
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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 2027
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