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The closed circuit television (CCTV) market size is estimated to grow by USD 16.57 billion at a CAGR of 13.64% between 2023 and 2028. The market expansion hinges on multiple factors, notably the escalation of government security initiatives aimed at safeguarding public and private spaces. Additionally, the integration of facial recognition technology into CCTV cameras enhances surveillance capabilities, augmenting security measures. Moreover, the growing demand for IP-based CCTV cameras underscores the market's evolution towards advanced, networked surveillance solutions. These trends reflect a collective emphasis on enhancing security infrastructure, driving the adoption of cutting-edge technologies to address contemporary security challenges effectively. As such, the market is poised for further growth and innovation in the realm of video surveillance. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 to 2022.
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In the realm of security and surveillance, CCTV (Closed-Circuit Television) Pioneer System has become an indispensable tool for businesses and individuals alike. The market is thriving, driven by technological advancements and increasing security concerns. CCTV technologies include cameras, DVRs (Digital Video Recorders), Terrestrial TV, VMS (Video Management Systems), and various types of lenses. Marketers promote CCTV systems as a means to deter crime, enhance safety, and improve operational efficiency. Technologies such as motion detection, night vision, and remote access add to their appeal. Companies offer various types of CCTV systems, including wired and wireless, HD-SDI, and IP-based systems. Additionally, cloud-based storage solutions provide convenience and flexibility. CCTV systems are used in various sectors, including retail, healthcare, education, transportation, and government. With advancements in AI and machine learning, CCTV systems can now provide real-time analytics and insights, making them an essential investment for modern businesses and organizations. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing government security initiatives are notably driving market growth. The market has experienced significant growth due to escalating security concerns, including terrorism and crime. Governments and authorities worldwide have responded by installing surveillance systems in both public and private spaces. Companies are investing in advanced technologies such as high-definition cameras, facial recognition software, and cloud-based storage systems. These technologies enable real-time monitoring and remote control, allowing for effective traffic-related applications, vehicle movement tracking, enforcement activities, and traffic violation detection. Tolls, parking charges, and fees are also being monitored through CCTV systems. Highways, roads, and other public places are being secured with these cameras, which can deter crime, provide evidence, and aid in incident investigation.
Moreover, the IT sector plays a crucial role in the development and implementation of these systems. Analog and wired camera types are being replaced by digital technology and IP networks, making CCTV systems more cost-effective and efficient. Remote monitoring and control, recorded footage, and potential security threats are all essential aspects of this market. Hence, the rise in criminal activities such as thefts, fraud, and illegal possession of firearms will help to improve security measures, which in turn is expected to boost the market during the forecast period.
The incorporation of video analytics in IP-based CCTV cameras is an emerging trend in the market growth. The market encompasses the use of surveillance cameras in both public and private spaces to ensure security and safety. With the rise of terrorism and potential security threats, the demand for advanced CCTV technologies has surged. Companies are integrating high-definition cameras, facial recognition software, and cloud-based storage systems into their CCTV offerings. These technologies enable remote monitoring and control, as well as the ability to review recorded footage. In public spaces, CCTV is used for crowd control, incident monitoring, and behavior analysis. In private spaces, it deters crime and serves as evidence in case of an incident. Advanced CCTV systems can be used for traffic-related applications, such as vehicle movement monitoring, traffic violation detection, tolls, and parking charges.
Technologies like multi-dimensional perception, AI, deep learning, and cloud technology are being employed by companies to enhance the capabilities of CCTV cameras. These cameras can be wired or wireless, analogue or digital, and can be connected to an IP network or the internet for remote access. The cost-effectiveness and ease of use offered by these technologies have made them increasingly popular in the IT sector, particularly for traffic monitoring on roads and highways. Authorities use CCTV for enforcement activities and incident response, making it an essential tool for maintaining order and security. Hence, such factors are expected to fuel the growth of the global market during the forecast period.
Cyber security risks are major challenges impeding market growth. Protection of hardware and software from cyberattacks like malware, passwords, and distributed denial-of-service (DDoS) attacks is referred to as cybersecurity. The market encompasses the use of surveillance technologies in both public and private spaces to ensure security and safety. With the rising threat of terrorism and cybercrime, the demand for advanced CCTV systems has surged. Companies are investing in high-definition cameras, facial recognition software, and cloud-based storage systems to enhance security. CCTV systems are increasingly being used for traffic-related applications, such as vehicle movement monitoring, toll collection, and parking charges. Technologies like digital technology, IP networks, and the internet enable remote monitoring and control of cameras. Authorities use CCTV for enforcement activities, traffic violation detection, and crowd control. However, potential security threats, such as hacking and malware attacks, pose challenges. Companies must secure their systems with firewalls, antiviruses, and malware protection tools.
The market includes various camera types, such as analogue, wired, and wireless, and the adoption of digital technology continues to grow. CCTV systems offer cost-effectiveness, deter crime, provide evidence for incidents, and help monitor behavior. The IT sector and property management are significant industries driving the growth of the market. Hence, cyberattacks on internet-connected cameras like this are expected to affect the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Axis Communications AB - The company offers security cameras, video encoders, accessories, access controls, and others. The key offerings of the company include the M3057-PLVE Mk II network CCTV camera which is designed with a 360-degree panoramic view and can be installed on walls and ceilings.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth opportunities, particularly in rural areas, driven by a surge in security concerns and a need for home security solutions. With the advent of digital video recording and advanced technologies like IP cameras and motion detector cameras, consumers are increasingly opting for sophisticated CCTV camera systems to enhance surveillance capabilities. Additionally, factors such as competitive rivalry and the threat of new entry are shaping market dynamics, prompting companies to focus on pricing analysis and market outlook to stay competitive. The market is not immune to the influence of market forces such as the Threat of Substitution and the supplier bargaining power and buyer bargaining power. The threat of substitution arises from alternative security solutions that may offer comparable or even superior surveillance capabilities. Moreover, the adoption of deep learning technologies like DeepinView bullet-style network cameras and TandemVu technology is further bolstering market growth, catering to diverse security needs in both public sectors and private domains.
The market share growth by the dome camera segment will be significant during the forecast period. Dome cameras can be mounted directly on walls, ceilings, or other surfaces inside and outside of retail stores, hotels, shops, banks, offices, etc. They come in a variety of dome shapes. These cameras make use of a variety of technologies, including IR (infrared) night vision, AI, and machine learning. Additionally, there are numerous varieties of them, including analog dome cameras, internet protocol (IP) dome cameras, wireless dome cameras, network dome cameras, and thermal dome cameras.
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The dome camera segment was valued at USD 6.39 billion in 2018 and continued to grow until 2022. As their lenses are shielded, dome cameras are incredibly resilient and resist vandalism. They also use advanced technologies like deep learning and night vision. The market encompasses the use of surveillance cameras in both public and private spaces, including retail stores, hotels, banks, and offices. With increasing concerns over terrorism and security, the demand for advanced CCTV technologies has grown. Companies offer various types of cameras, such as high-definition, equipped with facial recognition software and night vision capabilities. These cameras can be wired or wireless, using digital technology and IP networks to enable remote monitoring and control. Cloud-based storage systems facilitate the storage and retrieval of recorded footage.
Traffic-related applications include vehicle movement detection, enforcement activities, traffic violation detection, tolls, and parking charges. Authorities utilize CCTV for traffic monitoring on roads and highways to ensure safety and address potential security threats. The cost-effectiveness and integration with IT sector technologies make CCTV an essential tool for property security, deterring crime, and providing evidence for incidents. Hence, with factors where it can be easily installed in places such as airports, shopping malls, restaurants, retail shops, and offices due to their small size, it is expected to boost the market segment in the forecast period.
The market encompasses various applications, with a significant focus on public spaces for security, safety, and surveillance against potential security threats. In this sector, companies employ advanced technologies such as high-definition cameras, facial recognition software, and cloud-based storage systems. Public spaces under surveillance include transportation hubs like airports, train stations, and bus terminals, government buildings, and recreational areas. Surveillance in public spaces aims to deter crime, collect evidence, and monitor behavior for crowd control. Private spaces may also utilize CCTV for similar purposes. Technologies include wired and wireless cameras, analogue and digital, connected via IP networks and the internet, enabling remote monitoring and control. Traffic-related applications include vehicle movement monitoring, enforcement activities, traffic violation detection, tolls, parking charges, and fees. These systems contribute to cost-effectiveness and efficiency in traffic monitoring on roads and highways, benefiting
APAC is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in APAC is thriving due to heightened security concerns in public spaces, including airports and shopping centers, as well as private ones. Companies are investing in advanced CCTV technologies such as high-definition cameras, facial recognition software, and cloud-based storage systems to enhance surveillance. Technologies like AI, IoT, deep learning, and machine learning are driving adoption. Infrastructure development for smart cities and urbanization are significant factors. Major Chinese vendors, like Hikvision and Dahua, offer AI-enabled cameras. CCTV is used for terrorism prevention, traffic-related applications, vehicle movement monitoring, enforcement activities, and incident detection. Cost-effective solutions include analogue cameras, wired and wireless types, and digital technology via IP networks and the Internet.
Remote monitoring and control enable real-time recorded footage access. CCTV deters crime, provides evidence, and aids in crowd control. Potential security threats necessitate continuous innovation.v Leading Chinese manufacturers are introducing CCTV cameras with cutting-edge technologies like AI, including Zhejiang Dahua Technology and Hangzhou Hikvision Digital Technology. Furthermore, to create cutting-edge products, vendors are also forming strategic alliances with other market players like technology providers and chip makers. Thus, owing to such factors the regional market is expected to grow during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
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The Market is driven by safety and security concerns, particularly in public and private spaces, leading to the increased deployment of high-definition cameras and facial recognition software. These systems often rely on cloud-based storage systems for storing footage. In addition to security, CCTV systems are used for traffic-related applications, including automatic number plate recognition (ANPR) for monitoring vehicle movement and enforcement activities. They are also used for detecting traffic violations and managing tolls, parking charges, and fees on roads and highways. Different types of cameras, such as analogue and Internet Protocol (IP) cameras, are used in CCTV systems, with IP cameras providing connectivity to wired or wireless IP networks, including local area networks (LANs). This enables remote monitoring and recording of footage. CCTV systems are cost-effective solutions for the IT sector and property owners, helping to deter crime and provide evidence for investigations. They are also used to monitor behavior and control crowds in various settings.
The market is experiencing rapid growth, driven by rising safety concerns and security threats, including terrorist attacks. Key players like Bosch Security and Vicon offer innovative solutions catering to various sectors, from hospitality to BFSI and commercial infrastructure. With the increasing adoption of contactless and touchless solutions and biometric technologies, businesses and organizations are prioritizing safety and security in both public and private sectors. CCTV systems, including analogue and IP cameras, equipped with advanced features like DeepinView and PTZ technology, enable efficient monitoring and surveillance to detect suspicious activities. Despite restraints, the market presents significant opportunities for growth, fueled by the continuous evolution of safety and security solutions.
Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2022 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 13.64% |
Market growth 2024-2028 |
USD 16.57 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
11.73 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 48% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ADT INC., Axis Communications AB, Cisco Systems Inc., CP PLUS International, DW, GeoVision Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Hanwha Techwin, Honeywell International Inc., IDIS Ltd., Lenovo Group Ltd., LG Corp., MOBOTIX AG, Robert Bosch GmbH, Sony Group Corp., Teledyne FLIR LLC, UNIX CCTV Corp., Zhejiang Dahua Technology Co. Ltd., Zhejiang Uniview Technologies Co. Ltd., and Panasonic Holdings Corp. |
Market dynamics |
Parent market analysis, market growth and trends, market report, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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