According to a recent market report published by Mindaspire Market Research titled, “CCTV Camera Market by 2025” the global CCTV Cameramarket was valued at US$ 8,340.0Mn in 2016, and is expected to register a CAGR of 15.7% from 2017 to 2025.Demand for CCTV Camera is expected to be driven by increasing security concerns and government regulations.
CCTV Closed-Circuit Television (CCTV) is the use of video cameras to transmit signal to a specific place on a designated device. It may employ point to point (P2P), point to multipoint or mesh wireless links. Applicable for surveillance in areas that may need monitoring such as banks, casinos, airports, military installations and convenience stores. CCTV systems may operate continuously or only as required to monitor/capture a particular event.
Global CCTV Camera market is categorized on the basis of Type of CCTV Camera, End-user and Technology. On the basis of Type of CCTV Camera, the market is segmented as Dome Camera, Bullet Camera, Box Camera, PTZ Camera and others. The Dome Camera segment is anticipated to register a CAGR of 17.1% during the forecast period. The end-user segment is segmented into Residential, Commercial, Industrial and Government.
On the basis of technology, the market is segmented as Analog CCTV Camera, IP/Network CCTV Camera and HD CCTV Camera. Analog CCTV Camera segment accounted for highest market share and was valued at US$ 4,589.9 Mn in 2016. Moreover, advancements in high definition (HD) and megapixel cameras globally is going to contribute primarily to the growth of CCTV Camera market. IP/Network Camera segment is expected to register a healthy CAGR of 19.3% during the forecast period.
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This report also covers drivers, restraints and trends driving each segment and offers analysis and insights regarding the potential of CCTV Camera market in regions including North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. Among the regions, Asia Pacific was the largest market for CCTV Camera accounted for over 35.9% of the market share in 2016. Also, demand for CCTV Camera is increasing in the markets in North America and Europe.
Key competitors in CCTV Camera market are:Hangzhou Hikvision Digital Technology Co., Ltd, Dahua Technology Co., Ltd., Bosch Security Systems, Hanwha Techwin Co. Ltd., FLIR Systems, Inc, Honeywell International Inc., CP PLUS International, Axis Communications AB, Digital Watchdog and Sony Corporation.
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