Global CCTV Systems Market to be Driven by Rising Investments to Maintain Security at Various Locations During the Forecast Period 2022-2027
Expert Market Research’s new report titled “Global CCTV systems market sizeShare, Price, Trends, Growth, Report and Forecast 2022-2027′, gives an in-depth analysis of the global Video Surveillance market, assessing the market based on its segments such as product type, vertical and major regions.
The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 9.36%
With the increasing use of AI-based video surveillance for public safety and tracking criminal activities, the market is witnessing a healthy growth. The use of CCTV systems in different establishments, including commercial infrastructure, residential and private structures, as well as public places for real-time monitoring to prevent possible criminal incidents, adds to the growth of CCTV systems.
Moreover, the feature of improved efficiency and convenience offered by these systems contributes to their demand to fill the gaps of manual monitoring as the population grows exponentially. These systems are an important part of the company’s infrastructure, helping to increase staff productivity, employee safety and reduce the risk of theft.
Industry definition and major segments
CCTV system also refers to Closed Circuit Television (CCTV) system and is a security system. These systems consist of cameras, which can be analogue or digital, monitors/display units and recorders. These CCTV systems are designed in such a way that they record whenever motion is detected. On the basis of product type, the market is segmented into:
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o Analog camera
o Hybrid IP camera
o Video Analyticso Empty
• Services (VSaaS)
The market is divided as follows, vertical basis:
Major regional markets include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The video surveillance systems market is also benefiting from technological advances that make these systems more advanced. For example, the adoption of new technologies such as automatic license plate recognition or facial recognition, among others, has helped to further propel the growth of the market.
Widespread adoption of such systems in segments such as transportation, public places, utilities, and municipal surveillance is driving the market towards higher growth. As governments around the world invest to increase public safety, the demand for CCTV systems is increasing. Additionally, initiatives such as smart cities are further catalyzing the market for global video surveillance systems.
Main market players
Major market players include Axis Communications AB, Bosch Sicherheitssysteme GmbH, Honeywell Security Group, Panasonic Corporation, Teledyne FLIR LLC, and Schneider Electric SE, among others.
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