New York, United States, April 17, 2024 (GLOBE NEWSWIRE) -- The Global CCTV Market Size is to Grow from USD 18.35 Billion in 2023 to USD 65.11 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 13.5% during the projected period.
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Closed circuit television (CCTV) systems, also known as video surveillance, are primarily used to monitor and secure areas. The term "closed-circuit" refers to broadcasts that are typically sent to a small (closed) number of monitors, as opposed to "regular" television, which is broadcast to the general public. The digital video recording system is linked to CCTV cameras to store data. CCTV cameras are used for a variety of purposes, such as monitoring activity, gathering evidence, and recording. Furthermore, they help to reduce the crime rate. CCTV cameras are widely used worldwide to protect residential and commercial properties. It uses advanced technologies such as infrared, artificial intelligence, and deep learning to enhance public and residential security. Rising robbery rates in residential and commercial areas, as well as increased consumer awareness of surveillance cameras, all help to drive market growth. The growing use of cameras in residential and commercial settings to combat crime and protect assets is driving market growth. The number of surveillance cameras is rapidly increasing around the world as governments attempt to control their populations. However, growing privacy concerns about protecting video data from hackers and theft are expected to slow product adoption. There is a high risk that video data will be misused in public cloud camera recorders, and increasing data breaches prevent organizations from storing video footage. Networked video surveillance systems are more vulnerable to cyberattacks, and hackers use Distributed Denial of Service (DDoS) attacks to target specific systems. Furthermore, advanced technology-based systems have high manufacturing costs, which limit market growth.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global CCTV Market Size, Share, and COVID-19 Impact Analysis, By Camera Type (Analogue Camera, Internet Protocol (IP) Camera [Wired & Wireless]), By Technology (CMOS Technology, CCD Technology), By End User (Educational Centers, Hospitals, Hotels, Real Estates, Religious Places, Government, Retail, IT Sector, Transport Sector), By Sales Channel (Online Channel, Offline Channel), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The internet protocol (IP) camera segment dominates the global CCTV market with the largest revenue share over the anticipation timeframe.
Based on the camera type, the global CCTV market is categorized into analogue camera and internet protocol (IP) camera (wired & wireless). Among these, the internet protocol (IP) camera segment is dominating the global CCTV market with the largest revenue share over the anticipation timeframe. Internet Protocol (IP) cameras are a popular and rapidly expanding type of CCTV technology in the market. These cameras used in digital technology to transmit video and audio over an IP network, such as the internet or a local area network. This allows remote monitoring and control of the cameras, as well as the ability to save and access recorded footage from any location with an internet connection.
The CMOS technology segment is witnessing significant CAGR growth of the global CCTV market over the anticipation timeframe.
Based on the technology, the global CCTV market is categorized into CMOS technology and CCD technology. Among these, the CMOS technology segment is witnessing significant growth of the global CCTV market over the anticipation timeframe. CMOS technology is a type of image sensor used in CCTV cameras. It is a popular choice in the CCTV market because it is less expensive and more energy efficient than CCD (Charge-Coupled Device) technology. Furthermore, CMOS sensors support on-chip signal processing, which improves image quality while lowering costs. Overall, the use of CMOS technology in CCTV cameras is increasing due to its low cost and high performance.
The religious places segment holds a substantial revenue growth in the global CCTV market over the anticipation timeframe.
Based on the end user, the global CCTV market is categorized into educational centers, hospitals, hotels, real estates, religious places, government, retail, IT sector, and transport sector. Among these, the religious places segment is dominating the global CCTV market with the largest revenue share over the anticipation timeframe. These locations frequently receive a large number of visitors, necessitating surveillance to ensure the safety and security of both visitors and property. CCTV cameras can help to prevent crime while also providing evidence in the event of an incident. They can also be used to monitor visitor behavior, such as crowd control or anti-vandalism.
The offline channel segment is expected to hold a substantial revenue growth in the global CCTV market over the anticipation timeframe.
Based on the sales channel, the global CCTV market is categorized into online channel and offline channel. Among these, the offline channel segment is dominating the market with the largest revenue share of the global CCTV market over the forecast period. An offline channel in the CCTV market is a physical store where customers can purchase CCTV systems and equipment. These stores typically have a sales team on hand to answer questions and help customers choose the best CCTV system for their needs. The CCTV market's offline channels include electronics stores, security equipment supply stores, and specialty CCTV stores.
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Asia Pacific is anticipated to hold the largest share of the global CCTV market over the predicted timeframe.
Asia Pacific is projected to hold the largest share of the global CCTV market over the forecast period. Because of increased government initiatives and funding for smart city projects. According to the World Construction Report, China's investments in smart city projects involving advanced technologies totaled approximately USD 30 billion in 2021 and are expected to reach USD 38.92 billion in 2035. Rising investment in smart cities has resulted in a high demand for the product, which protects government assets. According to a UN estimate, China will have 54% of the world's cameras by 2021, which equates to approximately 540 million surveillance systems.
The North America market is expected to grow at the fastest CAGR growth during the forecast period. This is due to increased demand in public spaces and ongoing infrastructure development projects. Furthermore, rising burglaries and thefts in the United States and Canada are expected to fuel market growth. According to the United States Federal Government, approximately 91,628 burglaries were reported in 2021, with the majority occurring in North Carolina, Washington, Colorado, and Ohio.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global CCTV market are Hikvision Digital Technology, Honeywell Security, Bosch Security System, Safran Security, Dahua Technology, AssaAbloy, Tyco Security Products, Flir Systems, Samsung, Axis Communications, Panasonic Corporation, Sony electronics, ADT LLC, Guardian Protection Services, Mobotix AG, and Others.
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Recent Developments
- In July 2022, Hikvision introduced DeepinView bullet-style network cameras that incorporate TandemVu technology, extending the technology to bullet-style cameras. TandemVu-enabled bullet cameras can also monitor large scenes and details at the same time, which improves situational awareness and security.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global CCTV market based on the below-mentioned segments:
Global CCTV Market, By Camera Type
- Analogue Camera
- Internet Protocol (IP) Camera [Wired & Wireless]
Global CCTV Market, By Technology
- CMOS Technology
- CCD Technology
Global CCTV Market, By End User
- Educational Centers
- Hospitals
- Hotels
- Real Estates
- Religious Places
- Government
- Retail
- IT Sector
- Transport Sector
Global CCTV Market, By Sales Channel
- Online Channel
- Offline Channel
Global CCTV Market, By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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