Press release
Future of the CCTV Market: Trends, Innovations, and Key Forecasts Through 2034
CCTV
CCTV Market Size Growth Forecast: What to Expect by 2025?
The market size for CCTV has expanded swiftly in the past few years. It is expected to increase from $17.85 billion in 2024 to $20.32 billion in 2025, with a compound annual growth rate (CAGR) of 13.8%. The growth during the historic period is due to factors such as security concerns, corporate and industrial protection, public safety and city surveillance, prevention of retail loss, and traffic observation and administration.
How Will the CCTV Market Size Evolve and Grow by 2029?
Over the forthcoming years, the CCTV market's value is expected to grow substantially, reaching $33.71 billion in 2029, with a compound annual growth rate (CAGR) of 13.5%. This growth in the prediction period is likely due to several factors, such as smart city projects, IoT and analytics integration, expanded usage in residential security, compliance with health and safety regulations, remote surveillance, and cloud services. The forecast period will also witness several significant trends, including integration with IoT devices, cyber-security implementations, mobile and remote surveillance, features that enhance privacy, and combining with access control mechanisms.
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What Drivers Are Propelling the Growth of CCTV Market Forward?
The escalating need for security systems is likely to fuel the expansion of the CCTV market in the future. A security system, designed to safeguard individuals and property from numerous threats, including crime, theft, accidents, espionage, sabotage, subversion, and assault, is integral to this growth. The aim of systems security is to preserve data and assets from damage, alteration, and other forms of harm while ensuring their accessibility and utility. Therefore, the rising demand for these systems is enhancing the growth of the CCTV market. For example, in November 2023, the UK's security and resilience market was valued at approximately $29 billion and was witnessing expansion, according to the International Trade Administration, a federal agency in the US. Thus, the burgeoning demand for security systems is propelling the CCTV market's growth.
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Which Emerging Trends Are Transforming the CCTV Market in 2025?
Progress in technology is a major trend gaining traction in the CCTV sector. Firms in this sector are embracing innovative technologies to maintain their market standing. As an example, Lorex Technology Inc., a firm based in Canada that specializes in home and business security, unveiled a 4k Wi-Fi Security Camera with Smart Security Lighting technology in September 2022. The camera's LED band can be modified and customized by customers through the Smart Security Lighting function. Users have the power to create personalized lighting alerts by associating various colors with distinct camera settings and motion events. This Smart Motion Detection Plus AI technology aid in reducing unnecessary notifications and false alarms.
What Are the Key Segments in the CCTV Market?
The CCTV market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Technology: CMOS Technology, CCD Technology
3) By Camera Type: Analog Camera, Internal Protocol (IP) Camera
4) By Channel: Online Channel, Offline Channel
5) By End User: Educational Centers, Hospitals, Hotels, Real Estates, Religious Places, Government, Retail, IT Sector, Transport Sector
Subsegments:
1) By Hardware: Cameras, Video Recorders, Monitors And Displays, Cables And Connectors, Storage Devices
2) By Software: Video Management Software, Analytics Software, Remote Monitoring Software, Integration Software
3) By Services: Installation Services, Maintenance And Support Services, Consulting Services, Training And Education Services
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Who Are the Key Players Shaping the CCTV Market's Competitive Landscape?
Major companies operating in the CCTV market include Hangzhou Hikvision Digital Technology Co. Ltd., Bosch Security and Safety Systems Inc., Honeywell Commercial Security, Panasonic i-PRO Sensing Solutions, Dahua Technologies Co. Ltd., Samsung Electronics Co. Ltd., Zhejiang Dahua Technology Co. Ltd., Avigilon, Motorola Solutions Inc., Huawei Technologies Co. Ltd., Sony Corporation, Cisco Systems Inc, Axis Communications AB, CP Plus, Hanwha Vision, Pelco Inc., Vivotek Inc., FLIR Systems Inc., Canon Inc., Tiandy Technologies Co. Ltd., Dallmeier electronic GmbH & Co. KG, Genetec Inc., IDIS Co. Ltd., Mobotix AG, Arecont Vision Costar LLC, Lorex Technology Inc., Vicon Industries Inc., March Networks Corporation, Raytec Ltd., Merit LILIN Ent. Co. Ltd.
What Geographic Markets Are Powering Growth in the CCTV Market?
North America was the largest region in the CCTV market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global CCTV market report during the forecast period. The regions covered in the CCTV market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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