Market Snapshot:

The global CCTV cameras market expected to witness immense growth and is set to reach US$ 24.00 Bn by 2026, expanding at a CAGR of 12.3% during the forecast period from 2018 to 2026. Growth of the market mainly attributed to the increasing use of CCTV cameras in law-enforcement, traffic surveillance and for surveying high-crime areas or neighborhood. CCTV cameras have become more user-friendly and affordable and are finding their way into several homes and businesses. CCTV cameras are used for capturing images or videos in surveillance or monitoring systems. It enhances surveillance capabilities that are used for protection of assets, people and systems. CCTV cameras mainly serves as a security force multiplier that helps in providing surveillance for a large area. These cameras are often used for supporting comprehensive security systems with the incorporation of security alarms and video coverage for access control, barriers and intrusion detection.

CCTV cameras have gained lot of traction across the globe due to growing concerns for protection and safety. Increasing number of terror attacks and crime rates have uplifted the demand for CCTV cameras, which in turn is facilitating the growth of CCTV cameras market. Moreover, rising penetration of CCTV cameras in hospitals, education and retail sectors are amongst the major drivers accelerating the market growth. CCTV cameras used in these sectors allows one to effectively monitor large areas with minimal requirement of manpower. Furthermore, with the emergence of IP signaling technology and the benefits of remote CCTV monitoring are realized as cost effective and efficient alternatives to the conventional technology like analog systems. The CCTV cameras market expected to witness significant growth due to the increasing safety concerns in various regions across both residential and commercial sectors. However, high costs of 4k CCTV cameras and HD CCTV cameras expected to restrain the growth of the CCTV cameras market during the forecast period from 2018 to 2026.

Dome Cameras to Emerge as Lucrative Segment in the CCTV Cameras Market during the Forecast Period

The global CCTV cameras market, on the basis of model type is segmented into box cameras, bullet cameras, dome cameras and PTZ cameras. In 2017, the CCTV cameras market was dominated by the dome cameras in terms of value contribution. Dome cameras are becoming increasingly popular as they possess an ability to blend with their surroundings. These cameras are mainly used in residential applications as well as in public places including offices, lobbies, casinos, restaurants and convenience stores. These type of cameras are generally mounted on the ceiling and can also be mounted on a wall.

IP-based CCTV Systems to Augment the Growth of CCTV Cameras Market during the Forecast Period

In terms of value contribution, the analog CCTV system segment accounted for the largest market share in 2017. The demand for analog CCTV systems expected to slow down during the forecast period, as these systems are difficult to integrate with other security applications like automatic face recognition systems. On the other hand, IP-based CCTV systems expected to witness fastest growth during the forecast period. The growth of IP-based CCTV systems is mainly accredited to the technological advancements in these cameras and several advantages offered by them including product scalability, reliability, flexibility, high resolution and superior image quality. IP-based CCTV systems helps business organizations to lower the total cost of ownership and enhance their operational efficiency, thereby facilitating the growth of the market.

Residential Sector to Emerge as the Fastest growing End-user Segment

In 2017, commercial sector led the end-user segment and accounted XX% in the same year. However, demand for CCTV cameras from the residential sector projected to witness a superior growth in the near future. The residential sector expected to emerge as the fastest growing the end-user segment owing to a significant growth in the infrastructure development projects and rising security needs in various residential applications such as mobile surveillance, elder care, baby or pet viewing, etc. CCTV cameras have become an essential factor in the residential sector and therefore they are gaining huge acceptance among consumers. Moreover, growing trend of smart homes and penetration of IoT has enhanced the adoption of technology among residential users. Additionally, proliferation of remote monitoring devices such as tablets and smartphones and rising need for integration into connected infrastructure is aiding the growth of residential sector, thereby driving the global CCTV cameras market.

CCTV Cameras Market in Asia Pacific is Likely to outpace all Other Regions during the Forecast Period

In 2017, Asia Pacific accounted for the largest market share in the CCTV cameras market and expected to continue its supremacy during the forecast period from 2018 to 2026. Asia Pacific is the most dynamic digital landscape in the world and is experiencing rapid modernization and urbanization of structural frameworks. Therefore, deployment of sophisticated CCTV cameras systems is a regular feature in new building constructions. Increasing terrorist threats has necessitated the use of CCTV cameras, especially in the public areas to monitor the activities of individuals. Various countries in the region such as China, Japan and India are adopting new technologies and are overhauling their anti-terror equipment for mitigating the security lapses, which further supports the regional growth of CCTV cameras market.

Competitive Insights

The CCTV cameras market has seen a strong trend of consolidation in the recent years and shows no sign of slowing down. Driven by mergers & acquisitions, new product developments, as well bigger market players eliminating small companies is further expected to become significantly higher during the forecast period. The market players are focusing on unveiling their sophisticated and upgraded CCTV cameras systems and solutions for retaining their position in the CCTV cameras market. Continuous advancements in the technology is encouraging players to expend money on product development which in turn is having a positive impact on the market growth.

For instance, in June 2018, Axis Communications AB launched 4K dome camera and advanced 5 MP stainless steel for solid performance in harsh environments. Axis complements its top-of-the-line AXIS Q35 Series with two multi-megapixel, outdoor-ready fixed domes. The advanced AXIS Q35 Series camera will help customers ensure safety even at the most challenging conditions. The new camera offers perfect surveillance in a wide range areas including city surveillance, critical infrastructure, railways stations, airports, harbors, pharmaceutical, healthcare, and food industries.

Major players included in the 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.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of CCTV Cameras market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the CCTV Cameras market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of CCTV Cameras market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the CCTV Cameras market?
• Which is the largest regional market for CCTV Cameras market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving CCTV Cameras market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the CCTV Cameras market worldwide?