Report sees double-digit growth for CCTV market
The world-wide CCTV market is expected to grow by 13 percent year-on-year until 2011; global demand for conventional CCTV systems is trending downward, while demand for IP-based CCTV surveillance grows
Are you in the CCTV business? Good for you. The worldwide CCTV market is expected to grow by 13 percent year-on-year until 2011, according to a new report. Researchers at Delhi, India-based RNCOS said the growth would cover both IP-based CCTV and conventional systems. Increased security concerns, a rising threat of terrorism, and increasing retail activity have all been cited as possible reasons for the growth. RNCOS said other factors such as the need for low-cost, reliable, and innovative technology could also be driving the market. The study suggests the majority of future demand will stem from the Asia-Pacific region, which is home to major economic players like China, Singapore, Japan and India.
According to RNCOS, opportunities in the CCTV market will be opened up by a “retail revolution,” which will see sales (not of CCTV, but of general merchandise) reaching $17.20 trillion by 2011. The research firm said other industries such as healthcare and transportation would also drive demand. RNCOS warned, however, that the world’s CCTV market needs to overcome challenges such as insufficient coverage, privacy concerns, and restricted storage and retention capabilities. A RNCOS spokesperson said, “Despite these shortcomings the global CCTV market forms a lucrative market as it offers a plethora of opportunities to the related industries like equipment manufacturing, semiconductor industry, retail and transportation.”
Key Findings of the Report:
* The global CCTV market (including both IP-based CCTV and conventional CCTV) has been growing at a CAGR of 12.38 percent for the period spanning from 2005 to 2007 and is forecasted to grow at a CAGR of over 13 percent from 2007 to 2011
* The global demand for conventional CCTV systems is showing downward trend with the escalating demand for IP-based CCTV surveillance
* In 2006, North America and Europe accounted for more than 85 percent of the global CCTV market
* It is expected that major demand for CCTV systems will come from Asia-Pacific region in future
* Intelligent video surveillance system is emerging as a new trend that is driving the video surveillance software market
* Various sectors like retail, healthcare, and transportation represents the opportunistic areas for the global CCTV market
The full report, titled “Global CCTV Market Analysis (2007-2010),” is available for $1,800. See information here.
