Global CCTV Market

The global CCTV market is expected to register a robust CAGR during the forecast period, between 2021 and 2028. CCTV (Closed-circuit television), also known as video surveillance, is a method of transmitting a signal to a specific location and viewing it on a limited number of monitors. Due to smart city initiatives and privacy concerns, the demand for CCTVs is growing substantially. Companies that specialize in the production of a wide range of cameras network with the help of Internet of Things (IoT) technologies.

CCTV cameras can be used for a variety of purposes including monitoring all activities, recording evidence, and lowering the crime rate. The most recent technologies provide CCTV cameras, which include monitor detection cameras and IP cameras with additional functions such as audio and video recording.

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Market Trends, Drivers, Restraints, and Opportunities

• Growing demand for technologically advanced surveillance systems as well as rising public security and safety concerns, are anticipated to drive the market.
• Rising use of Artificial Intelligence (AI) surveillance technology and decreasing security camera prices are the major factors propelling the market growth.
• Increasing usage of CCTV at traffic lights by government agencies to recognize and identify license plates on stationary or moving cars are likely to boost market growth overall.
• Rising hardware capabilities of video cameras, such as 4K resolution, is a key factor drives market expansion.
• Growing costs of implementation, lack of awareness regarding innovative items, as well as security and privacy concerns about video data, are anticipated to hamper the market growth.
• Development of manufacturing techniques and rising investment in the infrastructure sector are expected to offer attractive opportunities for the CCTV market.

Scope of the report:

The report on the global CCTV market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

CCTV Market Segment Insights:

Hardware segment is projected to hold significant market share

Based on offerings, the CCTV market is fragmented into services, hardware, and software. The services segment is segmented into video as a service. The hardware segment is further classified into camera modules, storage, monitor, and others. Furthermore, the software segment is further bifurcated into video analytics software and video management software. The hardware segment is projected to hold significant market share owing to the increased use of cameras deployed globally as a result of growing safety concerns across different verticals. The market migration from analog to IP cameras has resulted in a variety of hardware-based advances that give object tracking, improved low-light performance, and built-in security. Technological advances have resulted in extremely specialized surveillance cameras that can be automatic to scan and zoom in on items, such as hazardous equipment. These factors are propelling the hardware segment.

Dome camera segment is anticipated to account for a substantial share

On the basis of camera types, the market is segmented into box camera, bullet camera, dome camera, PTZ camera, and others. The dome camera segment is anticipated to account for a substantial share of the market. Depending on the application or the desired field of view, dome cameras are either suspended from a wall-mounted bracket or ceiling mounted. The camera is placed behind a transparent dome that can be colored to hide the camera's position. Dome cameras are available in a variety of configurations, including IP or analog, mobile or fixed. PTZ domes can tilt, rotate, or zoom in on items of interest.

IP-based CCTV systems segment expand at a robust pace during the projected timeline

In terms of technology, the CCTV market is divided into analog CCTV systems, hybrid CCTV systems, IP-based CCTV systems, and wireless CCTV systems. The IP-based CCTV systems segment is projected to expand at a robust pace during the projected timeline. When compared to analog cameras, IP cameras have greater capabilities as they may do digital processing within the camera such as motion detection and compression, as well as contain other hardware components for decoding/encoding or cyber security. In comparison to DVRs, NVRs used in IP systems can manage multiple video streams from a large number of connected cameras. The growing popularity of audiovisual analytics is also moving the market toward IP video surveillance solutions. As the price of IP cameras and storage devices has continued to fall, their use has increased dramatically in recent years. Reduced cabling costs with wireless networks have also contributed to lower deployment costs in IP-based systems.

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Commercial segment to register a substantial growth rate

Based on end-users, the market is segregated into commercial, industrial, infrastructure, military & defense, public facility, and residential. The commercial segment is anticipated to register a substantial growth rate in the coming years due to the increasing importance of CCTV as a result of increased safety concerns across applications such as companies, retail, and BFSI. Owing to wide occurrence of security breaches such as robbery, inventory loss, illegal access, and other criminal activities, the business sector has increasing adopted the technology for various security solutions. In recent years, the need for surveillance systems has increased due to the fast growth of small enterprises, as well as retail establishments and malls.

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Asia Pacific is expected to dominate the market

In terms of regions, the CCTV market is categorized as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market due to the increased investments in smart city projects and rising population density in major cities. The growing number of small businesses, retail chains, residential apartments, and hospitality businesses in the region as well as government initiatives in various countries to install CCTV cameras in public places such as schools, cities, religious buildings, colleges, and airports, are driving the market growth. The rising population in developing countries such as India and China as well as collective with falling video surveillance equipment prices are propelling significant growth in the market for CCTV solutions. As a result, the presence of various camera manufacturers as well as the low cost of video surveillance systems, provide growth prospects for the market in developing nations.

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Segments

Segments Covered in the Report:
By Offerings

• Services
  • Video as a Service
• Hardware
  • Camera Modules
  • Storage
  • Monitor
  • Others
• Software
  • Video Analytics Software
  • Video Management Software

By Camera Types

• Box Camera
• Bullet Camera
• Dome Camera
• PTZ Camera
• Others

By Technology

• Analog CCTV Systems
• Hybrid CCTV Systems
• IP-based CCTV Systems
• Wireless CCTV Systems

By End-users

• Commercial
• Industrial
• Infrastructure
• Military & Defense
• Public Facility
• Residential

By Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

By Key Players

• Axis Communications AB
• Hanwha Techwin America
• Eagle Eye Networks
• Hangzhou Hikvision Digital Technology Co., Ltd.
• Panasonic Corporation
• Swann
• D-Link Corporation
• FLIR Systems, Inc.
• Bosch Security Systems
• VIVOTEK Inc.

Competitive Landscape

Key players in the global CCTV market are Axis Communications AB; Hanwha Techwin America; Eagle Eye Networks; Hangzhou Hikvision Digital Technology Co., Ltd.; Panasonic Corporation; Swann; D-Link Corporation; FLIR Systems, Inc.; Bosch Security Systems; and VIVOTEK Inc. These players have actively engaged in several market development strategies including collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to increase their market share.