Press release
CCTV Global Market 2023 - By Industry Size, Share Analysis, Trends, Growth And Outlook By 2032
CCTV Market
The Business Research Company's CCTV Global Market Report 2023 identifies increasing demand for security systems as the major driver for the CCTV market's growth in the forecast period. The security system is a piece of equipment created to protect people and property against various dangers, such as crime, theft, accidents, espionage, sabotage, subversion, and attack. System security aims to keep data and assets safe against loss, tampering, and other sorts of harm while enabling access to and usefulness of the data and assets. Hence, increasing demand for security systems is contributing to the growth of the CCTV market.
The global CCTV market size is expected to grow from $13.72 billion in 2022 to $15.79 billion in 2023 at a compound annual growth rate (CAGR) of 15%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global CCTV market size is expected to reach $26.66 billion in 2027 at a CAGR of 13.9%.
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Major competitors in the CCTV market are Hangzhou Hikvision Digital Technology Co Ltd, Bosch Security and Safety Systems Inc, Honeywell Commercial Security, Panasonic i-PRO Sensing Solutions.
A key trend in the CCTV market includes technology advancements. Companies operating in the CCTV market are adopting new technologies to sustain their position in the market. For instance, in September 2022, Lorex Technology Inc, a Canada-based home and business security company, launched a 4k Wi-Fi Security Camera with Smart Security Lighting technology. Customers can customize and change the camera's LED band using the Smart Security Lighting function. The users can create customized illumination signals by assigning different colors to specific camera settings and motion occurrences. The AI technology with Smart Motion Detection Plus helps to prevent unwanted notifications and false alarms.
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https://www.thebusinessresearchcompany.com/report/cctv-global-market-report
The CCTV market is segmented -
• By Component: Hardware, Software, Services
• By Technology: CMOS Technology, CCD Technology
• By Camera Type: Analog Camera, Internal Protocol (IP) Camera
• By Channel: Online Channel, Offline Channel
• By End User: Educational Centers, Hospitals, Hotels, Real Estates, Religious Places, Government, Retail, IT Sector, Transport Sector
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the CCTV market.
The Business Research Company's "Global CCTV Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The CCTV Market Include:
1. Executive Summary
2. CCTV Market Characteristics
3. CCTV Market Trends And Strategies
4. CCTV Market - Macro Economic Scenario
5. CCTV Market Size And Growth
………………………………….
26. Africa CCTV Market
27. CCTV Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The CCTV Market
29. CCTV Market Future Outlook and Potential Analysis
30. Appendix
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