CCTV Camera Market to Witness Rising Uptake to Manage Social Distancing | MRFRAccording to Market Research Future (MRFR), the global CCTV camera market valuation is poised to reach approximately USD 31,190 MN by 2024, registering a 12.90% CAGR throughout the review period (2019-2024). IP security in video surveillance has created a massive demand for CCTV cameras. Also, the increased adoption of IP-surveillance in perimeter security and the rising trend of smart homes boost market growth.
Additionally, increasing installations of CCTV camera-based surveillance mechanism systems for public security & protection influence market growth. Increasing installations of CCTV cameras with recording facilities covering all sensitive areas by law enforcement agencies propel the market's growth.
The global CCTV camera market drives substantial revenues. The market growth attributes to the rising adoption of CCTV cameras across commercial, residential, industrial, and infrastructural sectors. Besides, the increasing awareness of security and monitoring solutions drive the growth of the market. Moreover, the rising uptake of CCTV cameras to manage social distancing norms during COVID-19 challenges escalates market growth.
Global CCTV Camera Market– Competitive Analysis
Highly competitive, the CCTV camera market appears to be fragmented with the presence of several well-established players. These companies incorporate market strategies, such as mergers & acquisitions, collaborations, expansion, and technology/product launch, expanding their operations and offerings.
Major Players:
Players leading the global CCTV camera market include Bosch Security Systems (Germany), FLIR Systems, Inc (US), CP Plus International (India), Hangzhou Hikvision Digital Technology Co., Ltd (China), Digital Watchdog, Inc (US), Sony Corporation (Japan), Axis Communications AB (Sweden), Honeywell International, Inc. (US), Dahua Technology Co., Ltd (China), and Hanwha Techwin Co., Ltd (South Korea), and among others.
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Global CCTV Camera Market– Segments
By Product : Dome Security Camera, Bullet Security Camera, PTZ Security Camera, Thermal Security Camera, Box Security Camera, and others.
By Technology: IP Security Camera and Analog Camera.
By Application: Residential, Commercial, and Industrial.
By Resolution : HD, Non-HD, Digital, and others.
By Service : Professional Services and Managed Services.
By Regions : Europe, North America, Asia Pacific, and the Rest-of-the-World.
Global CCTV Camera Market – Regional Analysis
North America leads the global CCTV camera market. In 2018, the region had reached USD 5,134.6 MN valuation. The largest market share attributes increasing implementations of network-based video surveillance solutions in the region. Besides, the extensive adoption of advanced CCTV cameras in residential, commercial, and industrial sector drives the market growth in the region.
Europe stands second in the global CCTV camera market. The market growth is fostered by the increasing uptake of surveillance solutions in government establishment and public protection policies. Additionally, the growing adoption of cloud-based surveillance services for indoor and outdoor security measures fosters regional market growth. Furthermore, the increased adoption of CCTV cameras in the commercial landscape substantiates the regional market's development.
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TABLE OF CONTENTS:
- Market Introduction
- Research Methodology
- Market Dynamics
- Executive Summary
- Market Factor Analysis
- CCTV camera Market, By Segments
- Competitive Analysis
Continued…
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