CCTV Camera Market – Industry Analysis and Forecast (2017-2024) _ by Model Type (Bullet camera, PTZ camera, Box Camera, Dome Camera, and others), by Technology (Wireless CCTV Systems, Hybrid CCTV Systems, Analog CCTV Systems, IP-based CCTV Systems), by Application (BFSI, Home Security, Retail, Commercial Infrastructure, Hospitality, Government and Others), and by Geography (North America, Europe, Asia Pacific, Middle East & Africa and Latin America).
CCTV or closed-circuit television is a specific TV system in which signals are not publicly distributed but are mostly used for monitoring, mainly for surveillance and security purposes. Increasing demand for CCTV Cameras for safety and security purposes is mainly driving the global CCTV camera market. The rise in retail outlets have resulted in companies installing these cameras to maintain the shop and shopper’s safety. There is also a rise in the hospitality sector which demands presence of CCTV Camera Market due to erratic working hours or the remote locations. All these factors are driving the overall growth of the CCTV Camera Market. However, the installation of these cameras need regular maintenance and incur a cost which at times become high. This results in malfunctioning of the devices after a span of time, which also acts as a restraining factor for the CCTV Camera Market growth.
The dome camera segment is leading the global market share
Higher application of dome cameras in retail shops and malls along with the fact of this being cost-effective has together contributed to the high growth of dome cameras globally and is expected to grow more in future as well.
Asia Pacific is held highest market share over forecast period.
By geography market is segmented into North America, APAC, Europe, MEA& Africa and Latin America. Among all of these APAC held highest market share in 2019 and is expected to keep its dominance over forecast period. Availability of cheaper variants of CCTV Cameras is mainly driving the CCTV camera market in this region. China holds largest market share in this region.
Global CCTV Camera Market competitive landscape
Key players operating in this market are Bosch Security Systems Inc., Axis Communications AB, Geovision Inc., Hangzhou Hikvision Digital Technology Co., Ltd. Zhejiang, Dahua Technology Co., Ltd., and Honeywell Security Group. These key players are adopting various inorganic and organic growth strategies such as merger and acquisition, expansion, joint ventures, patent, new product launches etc. to increase their regional presence and business operations.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Global CCTV Camera Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global CCTV Camera Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global CCTV Camera Market positioning of competitors.
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