Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Introduction to CCTV Cameras Market
The CCTV cameras are used for surveillance purpose. It is used for the protection of people, assets and systems. The CCTV cameras are used to support the security systems and also provide the video coverage of security alarms for barriers, intrusion detection and access control.
A CCTV system provides the direct linkage of camera with monitor. The various components associated with CCTV cameras includes cameras, lenses and power. The growing advancement in CCTV technologies has led to component miniaturization and automated imaging analysis. The CCTV cameras are enabled with analog or digital transmission of signals. The CCTV cameras involve the components that are used for direct generation, storage and displays of important data.
Market Size and Forecast
The global CCTV cameras market is witnessing significant growth on the account of increasing security threat. This is anticipated to be major reason for the expansion of the CCTV cameras market during the forecast period. The rising application of CCTV cameras in industrial and government sector on the account of increasing security threats. Additionally, the increasing innovation in the field of CCTV cameras is also major factor for the growth CCTV cameras during the forecast period.
CCTV cameras market is anticipated to record a CAGR of 13% over the forecast period. The CCTV cameras market is expected to attain a total market size of USD 27 billion by 2027.The CCTV cameras market can be segmented on the basis of model, technology and application. On the basis of model, it is sub-segmented into box, PTZ, bullet and dome. Dome camera is expected to be the leading sub-segment during the forecast period. It is expected to contribute nearly 40% of total market share. The increasing popularity of dome cameras coupled high application in various industrial sectors is anticipated to be a major reason for the growth of sub-segment.CLICK TO DOWNLOAD SAMPLE
On the basis of technology, it is sub-segmented into wireless, analog, hybrid and IP-based. Analog is expected to be the leading sub-segment. The low cost associated with analog cameras is expected to boost the growth of sub-segment during the forecast period. On the basis of application, it is sub-segmented into hospitality, retail, commercial infrastructure, BFSI, government and home security. Commercial infrastructure is expected to be the largest application sub-segment .This is attributed to the high demand from industrial sector in order to protect the commercial property and assets such as inventory, data and files.
Growth Drivers
Increasing crime
The growing crime related activities across the globe is a primary driver for the overall market during the forecast period. The rising awareness regarding the benefits of CCTV cameras in commercial sector is also increasing the demand for CCTV cameras. This is expected to drive the CCTV cameras market during the forecast period.
Widespread Technological Advancement
The growing technological development in the CCTV cameras drives the overall CCTV cameras market during the forecast period. For instance, the introduction of technologies such as 4K cameras has high pixel resolution which enhances the quality of pictures taken by CCTV cameras. Additionally, the growing adoption of highly advanced technologies is expected to further boost the growth of overall CCTV cameras market during the forecast period.
Restraints
High Maintenance Cost
The high maintenance cost associated with CCTV cameras coupled with high initial investment is expected to restrain the growth of overall CCTV cameras market during the forecast period.
Market Segmentation
Our-in depth analysis of the global CCTV cameras market includes the following segments:
By Model:
By Technology:
By Application:
By Region
On the basis of regional analysis, global CCTV cameras market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia-Pacific region is expected to be a major region of overall CCTV cameras market during the forecast period. The increasing application of CCTV cameras in government and commercial sector is expected to be primary reason for the increased demand for CCTV cameras. Additionally, the growing commercial sector in the countries such as China and India is also supporting the growth of overall market during the forecast period. North America is expected to showcase substantial growth during the forecast period. The increasing crime related activities in the region is expected to major reason for the substantial growth during the forecast period. For instance, according to United States Federal Bureau of Investigation the total number of crime cases related to property was 3.5 million in 2015 and it grew to 3.8 million in 2016. The growing number of cases in the region is expected to further boost the growth of overall CCTV cameras market during the forecast period.
Global CCTV cameras market is further classified on the basis of region as follows:
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