Video surveillance market has been experiencing significant growth across the globe for the past few years due to rising concerns for security and safety. This has resulted into an increased demand for technically advanced surveillance system, thereby, creating huge growth opportunities for CCTV manufacturers, operators and distributors. As per the estimation, carried out in our latest report, the market for the global CCTV will reach around US$ 23.5 Billion by the end of 2014, expanding at a CAGR of about 20.5% since 2012.
Our report finds that the analog CCTV cameras currently dominate the global CCTV market, but the scenario will change by 2014-end with network IP emerging as the leading technology. We have discussed in the report about the factors that will drive the IP technology market in near future. On the technical front, IP Storage Area Network (IP SAN) is gaining momentum over digital and network video recorders (DVR/NVR) for storage as it offers improved scalability, storage capacity, and retention. We observed that the threat of terrorism and an increase in crime rate have also fueled the evolution of video analytics.
CCTV systems are being extensively utilized in the transportation sector to manage traffic flow and enhance highways safety, and they continue to play a significant role in retail sector for valuable management information. On observing the latest trends in the global CCTV market, we found that cloud-based video surveillance, also known as video surveillance as a service (VSaaS) is the coming generation of video surveillance. Besides, the study divulged that High Definition and megapixel cameras are fast penetrating the market, and gigapixel cameras are the next big things.
The region-level analysis, carried out in "Global CCTV Market Forecast to 2014", revealed that Asia and Middle East will gain significant share in the global CCTV market by 2014-end, capturing around one-fourth share. India and China with their huge population base will be the key drivers in the Asian market. The report also discusses the CCTV market in major countries like the US, Canada, the UK, Italy, Germany, and Russia, among others, and presents forecast for almost each nation. We have chosen these countries for the purpose of our study, keeping in view the current market trends and growth potential.
The report also covers the profiles of key players like Honeywell and Bosch, among others present in the CCTV global market. Overall, the comprehensive research aims at providing an unbiased picture of the global CCTV industry to help clients understand the market dynamics and make sound investment decisions accordingly.