Closed-circuit Television (CCTV) Camera Market by Product and Geography - Global Forecast and Analysis 2019-2023
Global Closed-circuit Television (CCTV) Camera Market: About this market
Technavio’s closed-circuit television (CCTV) camera market analysis considers sales from dome camera, PTZ camera, bullet camera, and box camera. Our analysis also considers the sales of closed-circuit television (CCTV) camera in APAC, Europe, North America, South America, and MEA. In 2018, the dome camera segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as long-distance coverage and 360° view offered by dome cameras will play a significant role in the dome camera segment to maintain its market position. Also, our global closed-circuit television (CCTV) camera market report looks at factors such as increasing government security initiatives, integration of facial recognition technology in CCTV cameras, and growing demand for IP-based CCTV cameras. However, uncertainties in the cybersecurity risks, limitations of data storage, and recording gaps in wireless CCTV cameras may hamper the growth of the closed-circuit television (CCTV) camera industry over the forecast period.
Global Closed-circuit Television (CCTV) Camera Market: Overview
Growing demand for IP-based CCTV cameras
The demand for IP-based CCTV cameras that transmit data over an Ethernet connection is increasing for remote monitoring applications in both indoor and outdoor spaces. Further, advanced technologies such as facial recognition, AI, deep learning, and machine learning are being integrated into these cameras to enhance their video surveillance features. This demand for IP-based CCTV cameras will lead to the expansion of the global closed-circuit television (CCTV) camera market at a CAGR of over 12% during the forecast period.
Introduction of deep learning technology
Deep learning uses algorithms to perform tasks repeatedly and provides highly accurate output by analyzing text, images, videos, and sounds. It can be used in CCTV cameras to perform functions such as object detection, facial recognition, automatic number plate recognition (ANPR), people counting, and false alarm filter. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global closed-circuit television (CCTV) camera market during the forecast period 2019-2023, click here.
With the presence of a few major players, the global closed-circuit television (CCTV) camera market is concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading closed-circuit television (CCTV) camera manufacturers, that include Axis Communications AB, Hangzhou Hikvision Digital Technology Co. Ltd., Hanwha Group, Panasonic Corp., Zhejiang Dahua Technology Co. Ltd.
Also, the closed-circuit television (CCTV) camera market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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