Likewise other industries, COVID 19 also taken a toll on CCTV Camera market with around 13.23% decline in its revenue in 2020 as compare to 2019
A closed-circuit television camera is a device that produce high quality images of videos for surveillance or private purposes. CCTV cameras are deployed for the purpose of security of home, offices, industrial premises, traffic monitoring, domestic security, border security, etc. Closed-circuit television cameras are available in various types and technology built for different purposes. closed-circuit television camera is most commonly known as video surveillance. Closed circuit mean the video or images produced by closed-circuit television camera are usually transmitted to limited number of monitors such as television, computer, and mobile phone.
Global CCTV Camera market is expected to witness CAGR of 11.49% during the forecast period. The revenue generated by the global CCTV Camera market in 2021 was over USD 19,913 million and expected to generate revenue worth USD 45,890 million in 2028. The incremental growth opportunity offered by the global CCTV Camera is estimated to be USD 240.5 billion between 2022 and 2028.
Increasing Demand for Video Surveillance
CCTV Camera is very important device that facilitate close monitoring of people, premise, industrial areas, traffic and borders remotely. CCTV Camera offers very cost effective measure to monitor people and places. Increasing security concern owing to rise in terrorist activities, burglaries, etc. the demand for CCTV cameras in on the rise. Video surveillance offers a great help in monitoring and identifying potential threat to people and place. Hence the demand for CCTV cameras is increasing around the world at a rapid pace.
Dome Cameras Held the Largest Share
Box Cameras, Bullet Cameras, Dome Cameras and PTZ Cameras are major types of CCTV Cameras. Dome cameras accounted for over 35% share of the total revenue generated by the global CCTV camera market in 2021. Bullet cameras account for second largest share and expected to exhibit highest CAGR over the forecast period. While, PTZ cameras are used in high-end applications and hence held lowest share in 2021.
Residential, Commercial, Industrial and Government are major end-users of CCTV Cameras. Commercial segment accounted for the largest share of over 30% in total revenue generated by the global CCTV Cameras market in 2021. Retail, BFSI, hospitality, private offices, malls, etc. are growing at a rapid pace around the world.
The growing significance of video surveillance systems owing to augmented safety concerns in host of end-user verticals including BFSI, Malls, Offices, etc. is fuelling the CCTV Cameras market in the commercial segment.
While, residential segment is expected to exhibit strong growth rate over the forecast period. Increasing smart home installations around the world is driving the demand for CCTV cameras. Europe has over 25 million smart homes in 2021 and likely to grow up to 50 million by the end of 2028. While, North America has over 50 million smart homes in 2021which is further expected to grow at a CAGR of over 15% during the forecast period. CCTV cameras are integral part of smart homes and hence the demand will grow in tandem with smart homes.
Government Sector to Hold the Significant Share
Domestic security, government building and institutions, traffic management, monitoring of criminal activities, border area security, etc. are major applications covered under governments sector. Governments around the world incur huge expenditure in order to insure domestic as well as border security. Similarly, smart city projects are on the rise around the world. Large number of smart city projects are under construction which is leading to rapid growth of CCTV camera installation. This in turn driving the demand for CCTV Cameras.
High Cost to Arrest the Demand
Less than USD 500, Between USD 501 to 1,000, Between USD 1,001 to 5,000 and Above USD 5,000 are major segments of CCTV cameras. Less than USD 500 price segment dominate the demand with just under 40% share in 2021. High cost of CCTV cameras is one of the major factors hindering the demand for CCTV cameras. Analog CCTV Systems, Wireless CCTV Systems, IP-based CCTV Systems and Hybrid CCTV Systems are major technology segments of CCTV Cameras. Wireless CCTV Systems are expected to exhibit rapid growth with a CAGR of over 12.62% during the forecast period. Analog CCTV Systems dominate the CCTV Cameras by technology segment with over 45% share in 2021.
China to Emerge at a Rapid Pace
Asia Pacific is rapid growing in demand for CCTV Cameras. In terms of volume, Asia Pacific dominate the demand while, in terms of revenue generation it occupy third place. China being largest market with installed base and new installation of CCTV Camera, poised to play important role in growth of CCTV cameras industry. Similarly, 100 smart city projects and growing commercial construction is fueling the demand for CCTV cameras in India. Delhi has claimed the city with highest CCTV installation per square mile. This in turn fueling the demand for CCTV cameras in the region. Taiwan, Singapore, Australia, Japan and South Korea are major growth markets for CCTV cameras in Asia Pacific. While, backed by strong growth in U.S., North America held the largest share in terms of revenue generation in 2021. Germany, UK and France are continue to dominate European CCTV camera industry with over 45% share in 2021.
Top Five Players to Dominate the Market
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 are major players operating in global CCTV Cameras market. Top five players held just under 50% share in total revenue generation in 2021. Key players are focused on technological innovation in order to provide advanced video surveillance capabilities their customers.
Frequently asked questions about global CCTV Camera industry
Likewise other industries, COVID 19 also taken a toll on CCTV Camera market with around 13.23% decline in its revenue in 2020 as compare to 2019
North America is the largest regional market with highest share in the total revenue generation of CCTV Camera consumed in 2021
Growing need for video surveillance is fuelling the demand for CCTV Camera market
Dome CCTV Camera segment dominated the CCTV Camera market in 2021 with over 35% share
Analog CCTV Camera was the largest end-user of CCTV Camera in 2021 with over 45% share
Report Attribute | Details |
---|---|
Market Value in 2021 | USD 19,913 million |
Market Value in 2028 | USD 45,890 million |
CAGR | 11.49% between 2021 and 2028 |
Benchmarking Year | 2021 |
Past data | 2016 – 2021 |
Forecast period | 2022 – 2028 |
Report coverage | Market Size Valuation, Share Analysis and Growth Rate by Segments such as Type and Application, Company Share, Competitive Landscape and Trends Analysis |
Segments covered | Type Box Cameras Bullet Cameras Dome Cameras PTZ Cameras and Others Technology Analog CCTV Systems Wireless CCTV Systems IP-based CCTV Systems Hybrid CCTV Systems and Others Application Residential Commercial Industrial Government and Others Price Range Less than USD 500 Between USD 501 to 1,000 Between USD 1,001 to 5,000 Above USD 5,000 |
Regional scope | North America (U.S., Canada and Mexico), Europe (Russia, Spain, Italy, Germany, France, UK, Poland, Belgium, Netherland, Sweden, Denmark, Austria, etc.), Asia Pacific (India, South Korea, China, Japan, Taiwan, Singapore, Vietnam, Thailand, Indonesia, Malaysia, Australia, etc.), Latin America (Peru, Chile, Colombia, Brazil, Argentina, etc.), Middle East (KSA, UAE, Israel, etc.) & Africa (Egypt, Nigeria, South Africa, East African Community, etc.) |
Major Players Analysed | 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 |
Cost of the Report | Write us at [email protected] |