Pune, India, Jan. 27, 2023 (GLOBE NEWSWIRE) -- The global CCTV camera market size was valued at USD 31.88 billion in 2021. The market is projected to grow from USD 35.47 billion in 2022 to USD 105.20 billion by 2029, exhibiting a CAGR of 16.8% during the forecast period.
This information is provided by Fortune Business Insights, in its report titled, “CCTV Camera Market Forecast, 2023-2029.”
Key Industry Development:
The end-to-end home surveillance camera solution "Xsafe" was introduced by Airtel. This method has been introduced by the corporation in 40 Indian cities, including Chennai, Mumbai, Delhi, Kolkata, Bengaluru, and others. Three different types of cameras are available from the Airtel India Telecom Company.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 16.8% |
| 2029 Value Projection | USD 105.20 Billion |
| Base Year | 2021 |
| CCTV Camera Market Size in 2021 | USD 31.88 Billion |
| Historical Data | 2018 to 2020 |
| No. of Pages | 160 |
| Segments covered | Camera Type, Technology, End-user and Geography |
| CCTV Camera Market Growth Drivers | Rising Adoption of CCTV Cameras in Residential and Commercial Areas Aids Market Growth |
Key Takeaways
- The rising adoption of cameras across residential and commercial spaces to reduce crime rates and protect assets is driving market growth.
- Rising Adoption of AI-based Cameras in Commercial and Public Places to Propel Market Growth
- Technology Analysis: Rising Adoption among Businesses Drives the Market Growth
- Rising Launching & Development of Advanced Technology-based Cameras Aids the Market Growth 2023-2029
- CCTV Camera Market Size in Asia Pacific was USD 21.92 Billion in 2021
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Drivers and Restraints:
- Rising Adoption of CCTV Cameras in Residential and Commercial Areas Aids Market Growth
- Around the world, CCTV cameras are frequently employed to protect both residential and business places.
- It was created using cutting-edge technology, including infrared, artificial intelligence, and deep learning to add additional security to public and private locations.
- The market is growing as a result of an increase in home and commercial burglaries and consumer awareness of the product.
- It is anticipated that growing privacy concerns about safeguarding video data against theft and hacking will impede market adoption.
- Organizations are prohibited from holding video footage due to the significant risk of video data being exploited in public clouds, camera recorders, and escalating data breaches.
Segments:
PTZ Camera to Dominate Global Market Growth
Based on camera type, the market is divided into box CCTV, bullet CCTV, dome CCTV, C-mounted, PTZ camera, and others (infrared camera). Dome CCTV had the largest share in 2021.
Rising Adoption of Security Systems among Businesses Drives Market Growth
By technology, the market is divided into analog, IP camera (network), and others (wireless camera). Among these, the analog segment dominated the global market in 2021.
BFSI Sector to Witness Strongest Adoption of CCTV Cameras and Government Segment to Show Exponential Growth
Based on end-user, the market is categorized into Banking, Financial Services and Insurance (BFSI), homeland security, retail, residential, logistics & transportation, hospitality, government, commercial spaces, and others (energy & power). BFSI held the largest CCTV camera market share in 2021.
By region, the market has been analyzed across five major regions, North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
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Regional Insights:
Asia Pacific to Lead Backed by Increasing Government Initiatives and Investments
A growing number of government efforts and investments in smart city projects is likely to cause Asia Pacific to dominate the global CCTV camera market share.
Throughout the predicted period, North America is expanding at a moderate CAGR. This is attributed to the fact that public spaces are under higher demand due to expanding infrastructure development initiatives. Additionally, it is anticipated that increasing numbers of thefts and break-ins will fuel the industry.
Europe is expected to grow at a moderate rate during the forecast period. European countries import surveillance system from Asia Pacific countries such as China, Japan, and others.
Competitive Landscape:
Innovative Product Launch Announcement by Key Players to Bolster Market Growth
The prominent players adopt several strategies to bolster their position in the market as leading companies. One such key strategy is acquiring companies to bolster the brand value among users. Another essential strategy is periodically launching innovative products with a detailed study of the market and its target audience.
List of Key Players Mentioned in the Report:
- Bosch Security Systems Inc. (U.S.)
- Honeywell Security Group (U.S.)
- Hangzhou Hikvision Digital Technology Co., Ltd. (China)
- Axis Communications AB (Sweden)
- Mobotix AG (Germany)
- Zhejiang Dahua Technology Co., Ltd. (China)
- Panasonic System Networks Co., Ltd. (Japan)
- Geovision Inc. (Germany)
- Sony electronics Ltd. (Japan)
- FLIR Systems Inc. (U.S.)
Quick Buy – CCTV Camera Market
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Major Table of Contents:
- Global CCTV Camera Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Camera Type (USD)
- Box CCTV
- Bullet CCTV
- Dome CCTV
- C-Mounted
- PTZ Camera
- Others (Infrared Camera)
- By Technology (USD)
- Analog
- IP Camera (Network)
- Others (Wireless Camera)
- By End-user (USD)
- BFSI
- Homeland Security
- Retail
- Residential
- Logistics & Transportation
- Hospitality
- Government
- Commercial Spaces
- Others
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- North America CCTV Camera Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Camera Type (USD)
- Box CCTV
- Bullet CCTV
- Dome CCTV
- C-Mounted
- PTZ Camera
- Others
- By Technology (USD)
- Analog
- IP Camera (Network)
- Others
- By End-user (USD)
- BFSI
- Homeland Security
- Retail
- Residential
- Logistics & Transportation
- Hospitality
- Government
- Commercial Spaces
- Others
- By Country (USD)
- United States
- Canada
- Mexico
- Europe CCTV Camera Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Camera Type (USD)
- Box CCTV
- Bullet CCTV
- Dome CCTV
- C-Mounted
- PTZ Camera
- Others
- By Technology (USD)
- Analog
- IP Camera (Network)
- Others
- By End-user (USD)
- BFSI
- Homeland Security
- Retail
- Residential
- Logistics & Transportation
- Hospitality
- Government
- Commercial Spaces
- Others
Toc Continued…
FAQ’s
How big is the CCTV camera market?
CCTV Camera Market size was 31.88 billion in 2021.
How fast is the CCTV camera market growing?
The CCTV camera market will exhibit a CAGR of 16.8% during the forecast period, 2022-2029
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