The "Global CCTV Camera Market and Forecasts to 2025" report has been added to Reportocean.com's offering.
Delhi, Delhi/NCR -- (SBWIRE) -- 11/18/2019 -- Market Overview
Global CCTV market refers to the marketplace that deals in closed-circuit television Camera, commonly known as CCTV cameras. CCTV cameras have its major application in surveillance systems. The global CCTV camera market is expected to register a substantial growth over the forecast period. The market is expected to witness a growth at a CAGR of ~12% during the forecast period. The market growth depends upon various driving factors, market trends and upcoming market opportunities. To get in-depth insights about the global CCTV market scenario, the market is studied considering various market segments, that are enlisted below:
- Based on Model Types
- Based on Technology
- Based on Application
Technological shift to network camera solutions from analog video surveillance, increasing role of IoT in recent technological advancements, rising concerns over privacy are some driving factors that are supporting the market growth. Whereas, high cost of CCTV cameras and lack of awareness related to usage and benefits of CCTV cameras are some of the hindering factors present in the market.
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Impact of technological advancements in CCTV
Introduction of 4K cameras and increasing adoption of technologically advanced security cameras in various sectors is supporting the market growth over the forecast period. Also, IoT has gained high traction in today's advancements by various industries and security is one of them. Security and surveillance are major concern for every industry and is high in demand. Network cameras are result of combination between IoT and CCTV cameras. IoT based security is high in demand, owing to various aspects, such as:
- Can be used to support critical challenges
- To maximize potential of cameras
- Easy to handle and many more
Network cameras have wide applications that include its usage used for Business Intelligence (BI) in retail, Building Information Management (BIM), handling scientific research with real-time analysis of crowd movements and traffic patterns.
Restraining factors of the market
Video-surveillance require high storage capacity and 24*7 power facility that in turn increases the capital cost of the market. Also, high cost of advanced CCTV cameras hinders the market growth. Considering for residential usage, HD and 4K cameras are expensive from the viewpoint of purchase and maintenance cost both. Additionally, risk of security breach with stored data from CCTV cameras also hinders the market growth.
The global CCTV camera market research report by Report Ocean explain consist of regional analysis of various geographies, that include:
- North America
- Rest of the World
Regionally, North America and APAC are the regions that are expected to witness high growth over the forecast period. The regional growth is expected to be supported by increasing cases of crimes and security threats. Whereas, favorable government policies to support the business of CCTV cameras boost the market growth in specific regions. For instance: In India, initiatives like 'Digital India' and in its support various business-oriented schemes boost the market growth in region. Some of the schemes are reimbursement of Stamp Duty and Registration Fee towards transfer/sale/lease of land for Electronics Manufacturing Clusters in Gujarat (an Indian State), power tariff subsidy, contribution of government in setting up power distributors and many more. Likewise, China also registered a significant demand of CCTV cameras with advanced technology. Hence, business favorable schemes and support is an opportunity for investors and a growth factor for APAC region to flourish in the CCTV market.
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