CCTV Camera Market Growth Potential is Booming Now: Toshiba, Mitsubishi Electric, Schneider Electric
Published Via 11Press : According to HTF Market Intelligence, the market for Global CCTV Camera is expected to register a CAGR of 15.8% during the forecast period to 2029.
CCTV Camera Industry Background: CCTV, also called video surveillance, is the use of video cameras to transmit a signal to a specific location and show it on a limited number of monitors. Despite the possibility of using point-to-point (P2P), point-to-multipoint (P2MP), or mesh wired or wireless lines, the transmission is not openly broadcast, unlike broadcast television. Even though practically this applies to all video cameras., the word is most frequently used to describe those that are used for surveillance in locations that need more security or constant observation (videotelephony is infrequently referred to as “CCTV”). CCTV camera systems are becoming more common since there is an increasing requirement for smart and intelligent surveillance. There are many different types of CCTV cameras used for surveillance, including dome cameras, PTZ cameras, fixed bullet cameras, wireless cameras, C-mount cameras, and high-definition cameras. Faster, safer, and more secure surveillance is made possible by the integration of CCTV cameras with the cloud. The unique software included with cloud-based CCTV cameras enables users to access a certain area from anywhere.
Major Companies Mentioned in This Report
- Bosch security systems Inc. (United States)
- Honeywell International Inc. (United States)
- Panasonic System Network Co. Limited (Japan)
- Hikvision (China)
- Axis Communications AB (Sweden)
- Toshiba Corporation (Japan)
- Samsung Techwin (South Korea)
- Vicon Industries, Inc. (United States)
- Mitsubishi Electric (Japan)
- Schneider Electric (France)
CCTV Camera Market Key Business Segments
By Type
- Software
- Service
- Hardware
By Application
- Retail
- Hospitality
- BFSI
- Commercial Infrastructure
- Home Security
- Government
- Others (Transportation, Healthcare, etc.)
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Key Developments in the Market:
In June 2021, VIVOTEK and Cyberlink made the decision to join forces because they feel that their synergy will enable them to better serve their clients by utilizing Cyberlink’s superior facial recognition and multimedia capabilities.
Motorola purchased Pelco in August 2020. Pelco is a video surveillance company that designs, develops, and sells video security solutions. Motorola intends to enter the market because it thinks video security solutions have a greater impact on enabling safer cities and securing businesses around the world. Although the market for CCTV cameras is competitive, the high level of market segmentation allows players to differentiate themselves based on technology and the end-users they are targeting. As a result, the market is highly fragmented, with many players operating in different market segments. The use of CCTV technology in so many different ways is one of the causes of the fragmentation.
Influencing Trend:
- The important factors driving the growth of the CCTV camera market are an increase in the use of cloud-based solutions, integration with artificial intelligence, application in the military, and tracking services.
- CCTV cameras’ ability to recognize and identify objects, people, and vehicles has been improved by the integration of AI and machine learning, which also increases the surveillance and security capabilities of the cameras.
- Large volumes of video data may now be stored and accessed more easily thanks to the popularity of cloud-based CCTV solutions, which also include remote access, storage, and administration features.
- In order to boost the accuracy of recognizing threats and targets, advancements in CCTV cameras’ use of thermal imaging and night vision have extended the devices’ applications in military and tracking equipment.
Market Growth Drivers:
- The main drivers driving the CCTV camera market are growing security concerns and technological developments in camera quality, data storage, and user interface. Terrorist attacks and other threats to public security have increased demand for CCTV cameras.
- In addition, the development of high-resolution cameras that can be wirelessly connected and have their storage backed up on cloud-based storage has made CCTVs more efficient and effective. The market for CCTV cameras is expanding due to rising public security concerns and demand for monitoring in developing nations in Asia and Latin America.
Challenges:
- Including the current system in the integration, The difficulties that impede market growth are expensive and growing complexity. It will be difficult to integrate new cameras with older ones because the older ones will need hardware and software upgrades.
- As a result, the older cameras will need to be upgraded in order to build an integrated platform where all camera recordings can be accessed through a single cloud. Newer cameras feature UWB (ultra-wideband) and IoT, which increases their effectiveness, and for that to happen, equivalent hardware and software is required.
- Although this obstacle can be overcome once the industry achieves economies of scale in the production of UWBs and the necessary hardware, adoption of this technology is costly and these high-end cameras are pricey, driving away the price-conscious customers and small enterprises. However, the uses of sophisticated technologies and the improvement of CCTV camera solutions, such as those incorporating AI and machine learning, can be technically challenging, necessitating the use of qualified experts to install and maintain them.
Opportunities:
- The primary drivers of the CCTV market growth have been identified as the rising number of smart cities, the rising demand for smart homes, and applications in retail, commerce, and automotive industries.
- Due to worries about surveillance and security in production facilities as well as retail stores, showrooms, and offices, the internet of Things (IoT) is experiencing increased demand, which has contributed to an increase in the residential applications of CCTV cameras.
- A significant growth potential for the CCTV camera market is the rising demand from the automobile industry. To improve public safety and security, cameras are required for surveillance in private automobiles, as well as public transportation networks including airports, train stations, and roads.
| Study Period | 2018-2029 |
| Base Year | 2022 |
| Forecast Period | 2023-2029 |
| Value Unit | USD (Million) |
| Scope Customization | With the purchase of the CCTV Camera Market report, receive customization. Subject to practicality, you can include or modify a country, or area, or acquire a more detailed segmentation in the final output. |
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Against this Difficult Background, CCTV Camera Research Provides Insight into
— Key characteristics and the state of the CCTV camera market. To put an end to this, HTF Market Intelligence analysts organized and conducted surveys of the companies involved in the CCTV camera sector. The resulting snapshot provides a framework for comprehending the reasons for and the changes that the CCTV Camera business is anticipated to undergo.
— The direction the industry for CCTV cameras is taking. Insights are derived from financial analyses, surveys, and expert interviews.
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