Across the globe video surveillance industry has its own demand with related to the rising concerns of safety and security which in turn gave growth for CCTV manufacturers, operators and distributers towards this surveillance systems. . The market for global CCTV products are projected to reach around US$ 19 Billion by the end of 2013, growing at a CAGR of around 21% since 2011.This growth rate symbolizes the global market has vast consumption towards CCTV cameras , especially the countries who consider security as the major concern.
As per the report “Global CCTV market Analysis 2008-2012” ,The Analogue camera dominated the CCTV market however the trend has been changed and by the end of 2013 it is expected that IP camera will be considered as the leading technology. Some of the important sectors that drive the growth of CCTV markets are retail, transportation, healthcare etc.
At the regional level, the significant share will be gained by the Asia for about 34% of the total market which is close to Americas and European market. Developing countries, like India and China with huge population base will be the key drivers in the Asian market. Additionally, three major economies Malaysia, Thailand, and Taiwan will be the key drivers for CCTV growth in the region. Overall, the comprehensive research aims at providing an unbiased picture of the global CCTV industry to help clients understand the market dynamics and make sound investment decisions accordingly.
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