LeapZipBlog: Market-NewsFlash's blog: CCTV Camera Market Expected To Cross USD 31,190 Million By 2024: Global Forecast News

CCTV Camera Market Expected To Cross USD 31,190 Million By 2024: Global Forecast News

November 27, 2019 by Market-NewsFlash  

Global CCTV Camera Market Research Report: by Product (Bullet Security Camera, Dome Security Camera, PTZ Security Camera, Box Security Camera and Thermal Security Camera), by Technology (IP Security Camera and Analog Camera), by Application (Commercial, Residential and Industrial), by Resolution (HD, Non-HD), by Services (Professional Service and Managed Service), by Region (North America, Europe, Asia-Pacific and Rest of the World) — Forecast till 2024

CCTV Camera Market Overview

The Global CCTV Camera Market is projected to account for USD 31990.8 million by 2024, registering a CAGR of 12.90% during the forecast period. Market Research Future (MRFR), in its report, envelops segmentations and drivers to provide a better glimpse of the market in the coming years. Over the past two decades, governments, businesses, enterprises, and residents across the globe have become attentive towards preventing their people and assets from potential threats, such as thefts, terrorist attacks, civil unrest, and natural disasters. 

Safety of people and assets require real-time monitoring of activities in public places and surroundings. Video surveillance plays a vital role in the development of smarter and safer cities by reducing crime rates and implementing preventive measures.

The global CCTV camera market spans across North America, Europe, Asia-Pacific, and the rest of the world.

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The growing adoption of smart homes, increasing awareness regarding security and safety and ease of installation rising adoption are expected to drive the market during forecast period. Advancements in wireless IP cameras and emerging smart city initiatives are expected to create opportunities for the CCTV camera market. However, issues regarding privacy and loss of data are expected to limit the market growth during the forecast period.

In 2018, the UK accounted for the largest market share 2018; the market is expected to register the highest CAGR during the forecast period. The rest of Europe was the second-largest market in 2018.

Global CCTV Camera Market: Segmentation

The global CCTV camera market has been segmented based on product, technology, application, resolution, services, and region. On the basis of product, the CCTV camera market has been segmented into bullet security camera, dome security camera, PTZ security camera, box security camera, and thermal security camera. By technology, the market has been segmented into IP security camera and analog camera. On the basis of application, the market has been segmented into commercial, residential, and industrial. On the basis of resolution, the market has been segmented into HD and non-HD. On the basis of services, the market has been segmented into professional service and managed service.

The key players of global CCTV camera market are FLIR Systems, Inc (US), Bosch Security Systems (Germany), CP Plus International (India), Digital Watchdog, Inc (US), Hangzhou Hikvision Digital Technology Co., Ltd (China), Sony Corporation (Japan), Honeywell International, Inc. (US), Axis Communications AB (Sweden), Hanwha Techwin Co., Ltd (South Korea), and Dahua Technology Co., Ltd (China), among others.

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