October 22 2019
The Global CCTV Camera Market is projected to account for USD 31990.8 million by 2024, registering a CAGR of 12.90% during the forecast period. Market Research Future (MRFR), in its report, envelops segmentations and drivers to provide a better glimpse of the market in the coming years. Over the past two decades, governments, businesses, enterprises, and residents across the globe have become attentive towards preventing their people and assets from potential threats, such as thefts, terrorist attacks, civil unrest, and natural disasters. Safety of people and assets require real-time monitoring of activities in public places and surroundings. Video surveillance plays a vital role in the development of smarter and safer cities by reducing crime rates and implementing preventive measures.
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Based on product, the market has been classified as bullet security camera, dome security camera, PTZ security camera, box security camera, and thermal security camera. The bullet security camera segment accounted for the larger market share in 2018, with a market value of USD 4,239.2 million; it is expected to register the higher CAGR during the forecast period. The dome security camera segment is the second-largest segment. Bullet security cameras are shaped like a cylinder and are compact. A majority of the bullet CCTV cameras are equipped with a mounting bracket and provide ease of installation on walls or ceilings. Dome security cameras are named so because of their dome-like shape. These cameras are commonly used in surveillance systems inside homes, casinos, retail stores, and restaurants. Pan/Tilt/Zoom (PTZ) cameras allow users to control the pan, tilt, and/or zoom operations of the lens through a surveillance DVR or remotely. Box style CCTV cameras allow the users to select the type of lens which are suitable for video surveillance application. Thermal cameras can work under all weather conditions and are primarily suited for outdoor applications. Thermal security cameras produce images with the help of heat radiation or invisible infrared.
Growing popularity of smart homes, increasing security and safety concerns, and ease of installation are factors expected to drive the CCTV Camera Market during the forecast period. However, issues regarding privacy and loss of data are expected to challenge the market growth during the forecast period. Further, advancement in wireless IP cameras and emerging Smart City Initiatives are expected to act as opportunities for the global CCTV camera market during the forecast period.
Over the past two decades, governments, businesses, enterprises, and residents across the globe have become attentive towards preventing their people and assets from potential threats, such as thefts, terrorist attacks, civil unrest, and natural disasters. Safety of people and assets require real-time monitoring of activities in public places and surroundings. Video surveillance plays a vital role in the development of smarter and safer cities by reducing crime rates and implementing preventive measures. An increasing number of criminal activities and terrorist attacks has led to the demand for high-level surveillance solutions across the globe.
The key players of the global CCTV camera market are FLIR Systems, Inc. (US), Bosch Security Systems (Germany), CP Plus International (India), Digital Watchdog, Inc. (US), Hangzhou Hikvision Digital Technology Co., Ltd (China), Sony Corporation (Japan), Honeywell International, Inc. (US), Axis Communications AB (Sweden), Hanwha Techwin Co., Ltd (South Korea), and Dahua Technology Co., Ltd (China), among others.
Detailed Regional Analysis
The global CCTV camera market, by region, has been segmented into Asia-Pacific, North America, Europe, and the rest of the world. North America is expected to dominate the CCTV camera market during the forecast period increasing implementation of network-based video surveillance solutions in the region.
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