CCTV camera sales expected to reach market value
NEW YORK, March 15, 2022 (GLOBE NEWSWIRE) — According to the CCTV Camera Industry Analysis Per Persistence Market Research, the global market is expected to grow at a CAGR around 12% from 2022 to 2032. The report reveals that the market is expected to reach a valuation of $14.7 billion by the end of 2022.
Speaking of smart cities, security has become a crucial aspect. Authorities should involve experts in security solutions from the early planning stages of proposed smart city projects. This ensures that the required safety aspects are not overlooked but are built into the framework from the start.
Since smart cities include buildings specifically designed to accommodate advanced technologies, planning will become essential to meet the safety and security needs of residents. CCTV, alarms and fire protection, access control, intruder alarms and emergency evacuation systems are some of the important components that concerned agencies need to properly plan effective surveillance and efficient.
Physical security involves the use of multiple layers of independent or dependent systems that include protective barriers, access control, and fire protection. These components are enhanced by the use of CCTV cameras. Additionally, next-generation video management systems (VMS) are a great tool that can be used with video surveillance, giving stakeholders a visual overview of activity on their premises.
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Developments, innovations and product launches are rapid in this market:
- In February 2022, Hikvision has launched its new line of TandemVu PTZ cameras, which integrates PTZ and bullet camera capabilities into a single unit. These camera systems eliminate the need to configure separate PTZ and bullet cameras in pairs. TandemVu PTZ cameras are capable of monitoring large areas and zooming in on specific security incidents.
- In November 2021, Johnson Controls has introduced six new additions to the Cloudvue camera portfolio. Cloudvue Gen3 cloud-ready cameras are available in 3MP and 8MP resolutions, compact mini dome, outdoor mini dome and outdoor bullet cameras to provide surveillance options for a wide range of applications including retail, apartment complexes and manufacturing facilities.
- In April 2020, Bosch announced the launch of INTEOX, a new camera platform that offers users, system integrators and application developers unprecedented freedom for innovation and customization. The INTEOX platform powers a whole new range of fixed and mobile MIC, AUTODOME, FLEXIDOME and DINION cameras that are supported by an open IoT infrastructure.
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Key insights from market research
- By type of camera, dome cameras should represent a first market share. However, request for PTZ cameras is estimated to increase to a Robust CAGR of 15.3% through 2032.
- Through technology, the AI-based segment should increase to a CAGR of 13.8% from 2022 to 2032.
- the commercial sector is considered to dominate the global CCTV camera market in 2022while the end user in the residential sector is expected to grow 3.1X by 2032.
- North America is expected to dominate the market, followed by Europe, in 2022. South Asia and the Pacific is expected to become the fastest growing regional market thanks to 2032.
- the market in china should progress in good health CAGR of around 11.6% through 2032.
- the Japan CCTV Camera Market should grow 3.6X during the forecast period.
- the CCTV camera market in India is estimated at an absolute dollar opportunity of $1.4 billion by 2032.
“CCTV camera makers are focusing on developing cameras that feature edge-based person detection with AI technology for more personal and intelligent smart home automation and monitoring,” Persistence Market analyst says Research.
Rise in thefts and burglaries drive demand for CCTV cameras
Theft, burglary and burglary continue to be rampant around the world. In India, according to the National Crime Records Bureau (NCRB), 244,119 cases of robbery, robbery and burglary took place at residential premises in 2017. According to an FBI report, in 2019 there were approximately 1 117,696 burglaries in the United States.
Burglaries accounted for 16% of the estimated number of property crimes in the United States. Thefts and crimes are also a big concern for businesses and owners as these illegal activities affect business profits.
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Usually, conventional policing focuses primarily on the physical presence of police officers on the ground. But the use of CCTV and CCTV analysis has been a growing trend in the security industry over the past few years. Moreover, the psychological effect of the presence of surveillance cameras is the biggest step in reducing and preventing crime.
More valuable information about the offer
This Persistence Market Research Report on CCTV Camera Industry is segmented into four major sections – Camera Type (Box Cameras, Dome Cameras, PTZ Cameras, Fixed Bullet Cameras, and Others), Technology (Analog, IP-based and AI-based), end user (residential, commercial, industrial, government and defense) and region (North America, Latin America, Europe, East Asia, South Asia and Pacific, and Middle East and Africa), to help readers understand and evaluate the lucrative opportunities in the CCTV Camera market.
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