Overview and Scope
CCTV (closed-circuit television) is a television system in which signals are not broadcast publicly but are monitored, generally for surveillance and security. It is used in the prevention and detection of crime. These devices are placed in public places to provide evidence and to capture relevant footage.
Sizing and Forecast
The cctv market size has grown rapidly in recent years. It will grow from $15.79 billion in 2023 to $18.14 billion in 2024 at a compound annual growth rate (CAGR) of 14.9%. The growth in the historic period can be attributed to security concerns, corporate and industrial security, public safety and urban surveillance, retail loss prevention, traffic monitoring and management.
The cctv market size is expected to see rapid growth in the next few years. It will grow to $30.26 billion in 2028 at a compound annual growth rate (CAGR) of 13.7%. The growth in the forecast period can be attributed to smart city initiatives, integration with iot and analytics, increasing adoption in residential security, health and safety compliance, remote monitoring and cloud services. Major trends in the forecast period include integration with iot devices, cybersecurity measures, mobile and remote monitoring, privacy-enhancing features, integration with access control systems.
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Segmentation & Regional Insights
The cctv market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: CMOS Technology, CCD Technology
3) By Camera Type: Analog Camera, Internal Protocol (IP) Camera
4) By Channel: Online Channel, Offline Channel
5) By End User: Educational Centers, Hospitals, Hotels, Real Estates, Religious Places, Government, Retail, IT Sector, Transport Sector
North America was the largest region in the CCTV market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global CCTV market report during the forecast period. The regions covered in the cctv market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing demand for security systems is expected to propel the growth of the CCTV market going forward. The security system is a piece of equipment created to protect people and property against various dangers, such as crime, theft, accidents, espionage, sabotage, subversion, and attack. System security aims to keep data and assets safe against loss, tampering, and other sorts of harm while enabling access to and usefulness of the data and assets. Hence, increasing demand for security systems is contributing to the growth of the CCTV market. For instance, in December 2022, according to the 2021 Nationwide Crime Statistics released by the Federal Bureau of Investigation, a US-based Law enforcement agency, the expected murder rate increased by 4.3% (from 22,000 in 2020 to 22,900 in 2021). Therefore, the increasing demand for security systems is driving the growth of the CCTV market.
Key Industry Players
Major companies operating in the cctv market report are Hangzhou Hikvision Digital Technology Co. Ltd., Bosch Security and Safety Systems Inc., Honeywell Commercial Security, Panasonic i-PRO Sensing Solutions, Dahua Technologies Co. Ltd., Samsung Electronics Co. Ltd., Zhejiang Dahua Technology Co. Ltd., Avigilon, Motorola Solutions Inc., Huawei Technologies Co. Ltd., Sony Corporation, Cisco Systems Inc, Axis Communications AB, CP Plus, Hanwha Vision, Pelco Inc., Vivotek Inc., FLIR Systems Inc., Canon Inc., Tiandy Technologies Co. Ltd., Dallmeier electronic GmbH & Co. KG, Genetec Inc., IDIS Co. Ltd., Mobotix AG, Arecont Vision Costar LLC, Lorex Technology Inc., Vicon Industries Inc., March Networks Corporation, Raytec Ltd., Merit LILIN Ent. Co. Ltd.
The cctv market report table of contents includes:
1. Executive Summary
2. CCTV Market Characteristics
3. CCTV Market Trends And Strategies
4. CCTV Market – Macro Economic Scenario
5. Global CCTV Market Size and Growth
…………………………
31. Global CCTV Market Competitive Benchmarking
32. Global CCTV Market Competitive Dashboard
33. Key Mergers And Acquisitions In The CCTV Market
34. CCTV Market Future Outlook and Potential Analysis
35. Appendix
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