According to a new market report published by Credence Research, Inc., “Global CCTV Cameras Market (By Model Type (Box Cameras, Bullet Cameras, Dome Cameras and PTZ Cameras), By Technology (Analog CCTV Systems, Wireless CCTV Systems, IP-based CCTV Systems and Hybrid CCTV Systems), By End User (Residential, Commercial, Industrial and Government)) – Growth, Future Prospects and Competitive Landscape, 2018 – 2026”, the global CCTV cameras market is expected to witness a growth of 12.3% CAGR during the forecast period to reach US$ 24.0 Bn by 2026.
Browse the full Global CCTV Cameras Market – Growth, Future Prospects and Competitive Landscape, 2018 – 2026” report at https://www.credenceresearch.com/report/cctv-cameras-market
CCTV cameras have become an indispensable tool in the security systems for analyzing potential threats. CCTV cameras offer effective, affordable and powerful security protection in residential, commercial, industrial and government areas. Use of CCTV cameras in business is growing at a significant rate due to increasing need in physical security. The drive for enhancing safety and security across various industries is adding to the growth of CCTV cameras market. Innovation in technologies have made video surveillance options scalable, tailored-made and more affordable for everyone’s purpose than ever before. CCTV camera technology is continuously undergoing feature refinements for improving its performance in areas such as data storage, wireless communications, automated image analysis, and component miniaturization. A correctly designed, specified, installed, maintained and managed system can be an effective tool for the control and security departments of various organizations and law enforcing agencies.
CCTV cameras through its reactive and proactive nature is a vital instrument for any organization combating crimes, damages and losses. CCTV camera technology is an established yet a developing technology. The move towards IP systems have 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 implicit as an efficient and cost effective alternative to the conventional technology. On the contrary, high costs of the HD CCTV cameras and 4K CCTV cameras are the factors restraining growth of the CCTV cameras market.
Based on the model type, dome cameras dominated the model type segment, accounting for 39.16% of the overall market value in 2017. Dome cameras are becoming increasingly popular in the environments where discretion is important. Dome cameras offer a perfect solution and an outstanding image quality across a wide viewing angle. Based on the technology, analog CCTV systems led the technology segment in 2017. The growth of the segment is mainly attributed to the lower initial costs and the capability of handling low-light situations. In terms of end-user, the global CCTV cameras market was led by the commercial sector. Growth of this segment is backed by the rising security needs amongst various commercial sectors for protecting their investments, inventory, assets, and employees.
Major players identified in the global CCTV cameras market include Axis Communication 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., and Toshiba Corporation among others. 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.