Closed circuit television (CCTV) systems, also known as video surveillance, are widely employed for security and monitoring purposes. These systems incorporate digital video recording to store captured data from CCTV cameras. CCTV cameras serve various functions, including activity monitoring, evidence collection, and crime prevention. The global market offers diverse types of CCTV cameras, such as IP cameras and motion detector cameras, which detect movement and provide additional features like audio recording. Digital CCTV systems deliver clear, colored images and are available in various shapes and sizes, facilitating convenient installation.
According to Data Bridge Market Research, the Closed Circuit Television (CCTV) Camera Market accounted for USD 10.40 billion in 2022, and expected to reach USD 26.87 billion by 2030. The market is expected to grow with a CAGR of 12.60% in the forecast period of 2023 to 2030.
“Growing criminal activity and concerns for security”
The increasing incidence of criminal activity has resulted in a notable surge in the demand for closed circuit television (CCTV) cameras to enhance public safety. Government initiatives promoting the use of security systems in public spaces have propelled the sales of various types of surveillance cameras, including dome, bullet, and IP cameras. Additionally, the rising crime rates have also contributed to the heightened demand for home CCTV systems, particularly due to the accelerating urbanization. Consequently, the market is expected to grow due to the escalating criminal activity and concerns regarding security.
What restraints the growth of the closed circuit television (CCTV) camera market?
“Concerns regarding Chinese manufacturing technology”
The market growth is likely to face significant hindrances due to concerns surrounding Chinese manufacturing technology in various nations, notably the U.S. In June 2021, there were deliberations among U.S. regulators regarding the potential ban on certain Chinese products, including surveillance camera companies like Dahua Technology and Hangzhou Hikvision Digital Technology. The bill gained approval in October 2021 and was subsequently sent for approval to the U.S. president. This development highlights the potential restrictions that could impede the market's expansion.
Segmentation: Global Closed Circuit Television (CCTV) Camera Market
The closed circuit television (CCTV) camera market is segmented on the basis of product, technology, application, resolution and services.
- On the basis of product, the closed circuit television (CCTV) camera market is segmented into bullet security camera, dome security camera, PTZ security camera, box security camera and thermal security camera.
- On the basis of technology, the closed circuit television (CCTV) camera market is segmented into IP security camera, analog camera.
- On the basis of application, the closed circuit television (CCTV) camera market is segmented into commercial, residential, industrial, government use.
- ‘On the basis of resolution, the closed circuit television (CCTV) camera market is segmented into HD, Non-HD.
- On the basis of services, the closed circuit television (CCTV) camera market is segmented into professional service, managed service.
Regional Insights: Asia Pacific dominates the Closed Circuit Television (CCTV) Camera Market
Asia-Pacific leads the closed circuit television (CCTV) camera market in revenue growth, driven by the presence of numerous companies offering advanced services and products. The region also experiences a significant shift from analog surveillance to IP cameras, further boosting market growth.
In North America, the market is expected to witness rapid development during the forecast period. This growth is attributed to the increasing concerns regarding road safety and the growing demand for enhanced security in high-risk areas across the region.
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Recent Developments in Closed Circuit Television (CCTV) Camera Market
- In 2021, Johnson Controls announced launching its new IP cameras, mainly in the dome camera format. Tyco Illustra Pro Gen4 has been launched in 8 MP, 4 MP and 2MP configurations. These mini-dome cameras are comprehensive of the growing IP camera portfolio of Johnson Controls concentrating on Edge AI classifications.
The Prominent Key Players Operating in the Closed Circuit Television (CCTV) Camera Market Include:
- Panasonic Corporation (Japan)
- SAMSUNG (South Korea)
- Cisco (U.S.)
- Sony Corporation (Japan)
- Dahua Technology Co., Ltd (China)
- Avigilon Corporation (Canada)
- Hangzhou Hikvision Digital Technology Co. Ltd. (China)
- Pelco (U.S.)
- HONEYWELL INTERNATIONAL INC (U.S.)
- Axis Communications AB. (Sweden)
- Canon India Pvt Ltd. (India)
- Bosch Sicherheitssysteme GmbH (Germany)
- Schneider Electric (France)
- Johnson Controls (Ireland)
- Pioneer System (U.S.)
- Mitsubishi Electric Corporation (Japan)
- Vicon (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of closed circuit television (CCTV) camera market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Closed Circuit Television (CCTV) Camera Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.