The CCTV Camera Market to reach US$ 10.4 Billion in 2022 to US$ 16.1 Billion by 2029 and is anticipated to exhibit a CAGR of 6.4% during the forecast period of 2022 to 2029.
Critical infrastructure security is of utmost importance, as these facilities continuously face physical intrusions, thefts, terrorism threats, and trespassing issues. Many governments across the world are ramping up their security measures to protect critical infrastructures such as oil & gas refineries, power plants, smart grids, and water utilities from perimeter intrusion attacks.
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COVID-19 Pandemic Impact Analysis
As global economies are currently facing a critical crisis situation due to the COVID-19 pandemic outbreak, this, in turn, is impacting the supply chain and logistic operations of various video surveillance system manufacturers. Over the past 5 years, the market for CCTV cameras has grown by almost 6%, globally.
In 2022, total value of the global CCTV camera market is estimated to be nearly US$ 9 Bn. However, due to the coronavirus outbreak, the need for video surveillance has grown further in Q1, 2022, which would continue in Q2, 2022, as the demand for public video surveillance would grow significantly for security monitoring amidst lockdowns.
Key Takeaways of CCTV Camera Market Study
- North America is expected to hold a significant share in the global CCTV camera market during the forecast period.
- Dome cameras are likely to capture a leading share in the global CCTV camera market among all model types during the forecast period, as these cameras are widely used for end-to-end security solutions all over the globe.
- By technology, IP/network-based CCTV systems are anticipated to retain their hegemony in the global CCTV camera market during the forecast period, as they find immense application in the residential sector.
- Demand for CCTV cameras in the residential sector is estimated to expand at an impressive CAGR. However, the commercial sector is estimated to continue to hold significant market share in the global CCTV camera market during the forecast period.
The ethical and legal implications of using IP CCTV cameras, such as privacy invasion, data protection, and consent requirements. Provide guidance on how to secure IP CCTV cameras from hacking, cyber attacks, or unauthorized access, such as using strong passwords, enabling encryption, or disabling default settings.
Global CCTV Camera Market: Players
Some of the key vendors identified across the value chain in the global CCTV camera market include Bosch security systems Inc., Honeywell International Inc., Panasonic System Network Co. Limited, Axis Corporation, Toshiba Corporation, Samsung Techwin, and Vicon industries. Besides this, other players include Mitsubishi Electric, Schneider Electric, Checkpoint system, Baxawell, and ADT fire and security.
Increasing Adoption of Video Analytics to Propel Sales
Smart CCTV surveillance systems are able to detect, recognize, analyse, and track people, vehicles, and objects, alike. Video analytics software built into CCTV face recognition technology also monitors seamlessly in real time, and adds significant benefits in live-monitored and incident review operations. Video analytics allows improved operational performance and increased security monitoring to detect unauthorized physical intrusions across perimeters.
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More Valuable Insights on CCTV Camera Market
Future Market Insights offers an unbiased analysis of the global CCTV camera market, providing historical data of 2014-2021 and forecast statistics for 2022-2029. To understand the opportunities in the CCTV camera market, the market is segmented on the basis of model type, technology, camera sensor type, and application, across eight major regions.
Key Segments Of CCTV Camera Industry Survey
CCTV Camera Market By Model Type :
- Box Cameras
- Dome Cameras
- PTZ Cameras
- Fixed Bullet Cameras
- Positioning Cameras
- On-board Cameras
- Others
CCTV Camera Market By Technology :
- Analog CCTV Systems
- IP/Network-based CCTV Systems
CCTV Camera Market By Camera Sensor Type :
- CCD Sensor-based Cameras
- CMOS Sensor-based Cameras
CCTV Camera Market By Application :
- CCTV Cameras for Residential Use
- CCTV Cameras for Commercial Use
- CCTV Cameras for Industrial Use
- CCTV Cameras for Government Use
CCTV Camera Market By Region :
- North America CCTV Camera Market
- Latin America CCTV Camera Market
- Europe CCTV Camera Market
- East Asia CCTV Camera Market
- South Asia & Pacific CCTV Camera Market
- Middle East & Africa (MEA) CCTV Camera Market
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