Home >> News >> CCTV Cameras Market Is Expected To Reach US$ 24.0 Bn by 2026 | Credence Research

CCTV Cameras Market Is Expected To Reach US$ 24.0 Bn by 2026 | Credence Research

According to a new market report published by Credence Research, Inc., “Global CCTV Cameras Market – Growth, Future Prospects, and Competitive Landscape, 2018 – 2026”, the global market for CCTV cameras is expected to see a growth of 12.3 per cent of CAGR in the forecast period to reach US$ 24.0 billion by 2026.

Product Insights

CCTV cameras have become an indispensable tool in security systems for the analysis of potential threats. CCTV cameras provide effective, affordable and powerful security protection in residential, commercial, industrial and government areas. The use of CCTV cameras in business is growing at a significant rate due to an increasing need for physical security. The drive to improve safety and security across different industries adds to the growth of the market for CCTV cameras. Innovation in technology has made video surveillance options scalable, tailored and more affordable for everyone than ever before. CCTV camera technology is continuously improving its performance in areas such as data storage, wireless communication, automated image analysis, and component miniaturization. A properly designed, specified, installed, maintained and managed system can be an effective tool for the control and security departments of various organizations and law enforcement agencies.

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CCTV cameras, through their reactive and proactive nature, are a vital tool for any organization that fights crime, damage, and loss. The CCTV camera technology is a well-established yet developing technology. The move towards IP systems has unfolded a new era in the integration of CCTV into other security management systems. The benefits of remote CCTV monitoring and the emergence of IP signaling technology implicitly as an efficient and cost-effective alternative to conventional technology. On the contrary, the high costs of HD CCTV cameras and 4 K CCTV cameras are factors that hinder the growth of the market for CCTV cameras.

Based on the model type, dome cameras dominated the model type segment, accounting for 39.16 percent of the total market value in 2017. Dome cameras are becoming more and more popular in environments where discretion is important. Dome cameras offer a perfect solution and excellent image quality across a wide viewing angle. The technology-based analog CCTV systems led the technology segment in 2017. The growth of the segment is mainly due to the lower initial costs and the ability to handle low-light situations. As far as end-users are concerned, the global market for CCTV cameras has been led by the commercial sector. Growth in this segment underpins the increasing security needs of the various commercial sectors to protect their investments, inventories, assets, and employees.

Competitive Insights:

The leading players are focusing on innovating and launching new CCTV security cameras to cater to the rising need from commercial and residential applications. Larger companies have gained better market positions making it difficult for smaller players to withstand the price pressures and grow their revenues. For instance, in May 2018, FLIR Systems, Inc. launched Saros, a product line of security cameras. The new generation product range for outdoor security combines multiple traditional perimeter protection technologies into an integrated solution. FLIR designed this approach for delivering actionable, accurate alerts and verified alarm data.

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List of Companies Covered:

  • Axis Communications AB
  • Bosch Sicherheitssysteme GmbH
  • CP Plus International
  • Dahua Technology Co., Ltd.
  • Digital Watchdog
  • FLIR Systems, Inc.
  • GeoVision, Inc.
  • Hangzhou Hikvision Digital Technology Co., Ltd.
  • Honeywell International Inc.
  • Mitsubishi Electric Corporation
  • Panasonic Corporation
  • Pelco, Inc.
  • Toshiba Corporation

Market Segmentation:

By Model Type Segment

  • Box Cameras
  • Bullet Cameras
  • Dome Cameras
  • PTZ Cameras

By Technology Segment

  • Analog CCTV Systems
  • Wireless CCTV Systems
  • IP-based CCTV Systems
  • Hybrid CCTV Systems

By End-user Segment

  • Residential
  • Commercial
  • Industrial
  • Government  

By Geography Segment Type

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (the Middle East & Africa, Latin America)

Key questions answered in this report

  • What was the market size of CCTV cameras in 2017 and forecast up to 2026?
  • What are the key market trends observed in the CCTV cameras market?
  • Which region or segment will drive the market growth? Why?
  • Which is the largest regional market for CCTV cameras market?
  • Which are the most promising model type and technology in the CCTV cameras market?
  • Which players are leading the CCTV cameras market?
  • What are the sustainability strategies adopted by the key players operating in the market?

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/59225

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