Pune, India -- (SBWIRE) -- 02/23/2018 -- CCTV Market – Overview

The lack of trusted manpower to safeguard buildings and public structures has led to the rise of the CCTV market worldwide. Market Research Future which specializes in market reports related to the IT & security sector amongst others lately published a report on this industry. The industry is expected to grow at a CAGR of approximately 20 per cent in the forecast period.

The demand and application potential of the CCTV Market has grown significantly in the past few years. Its transformation from a disorganized to organized sector has increased the growth that can be achieved from the market. The advances in technologies have made possible the incorporation of cutting edge technology which has further bolstered the demand trends that the market is experiencing currently. Upsurge in automation of the security and intelligence sector has also pulled along the expansion of this sector favorably.

Key Players:

The prominent players in this market include Hikvision Digital Technology, Honeywell Security, Bosch Security System, Safran Security, Dahua Technology, AssaAbloy, Tyco Security Products, Flir Systems, Samsung, and Axis Communications amongst others.

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Industry Segments

The CCTV market is divided on the types of CCTVs. The types include HD analogue, analogue and internet protocol cameras are the main types of CCTVs that are present in the market. The IP cameras segment type is further sub categorized into wireless IP cameras and wired IP cameras. In this category, The IP cameras are equipped to observe the maximum CAGR per cent in the due to technological advancements taking place in the industry.
The technology basis has divided the market into CCD and CMOS technology. The demand for CMOS technology is set to rise in approaching years owing to its user friendliness features. The CCTV industry is subdivided on end users basis into hospitals, religious places, real estates, hotels, educational centers, government, IT sector, retail, and transport sector. Amongst the end users category, the government sector is the biggest end user type for CCTVs. Their large demand share is credited to varied usage of CCTVs in government offices and on roads.

According to the channel structure, the market is further separated into retail channel and distribution channel. The principal share in the global CCTV market is credited to the distribution channel. The retail channel structure will also observe a high growth period in the forecast period.

Regional Analysis

Based on the geography wise division of the market, North America is the chief market for CCTV followed by Asia and Europe. The Asian market particularly China and India are focus points for the development of the CCTV market in the region. Factors such as Refining infrastructure, high economic growth and government initiatives in this region have further triggered the development of this industry.

Industry Updates:

Jan 2018 D-Link Corporation which has established itself as a provider of connectivity solutions on a global level for various enterprise's business networking, have recently announced their entry in the CCTV market with the introduction of eight different products specifically designed for this vertical. The move to move in to the CCTV industry specifically in the Middle East and Africa region will enable the company to continue the growth that this sector has been witnessing in the last 12 to 18 months. The move is considered by the company as a natural progression for D-Link as it at present supplies its channel partners and their clientele with a wide range of outdoor and indoor IP surveillance cameras.

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Global Competitive Analysis

Owing to the lucrative potential of this market, the contenders in the industry are aiming to grow their market portion to a by the usage of key assets to enable growth transformations which will be beneficial for the long run transformation of the sector. This outlook is favorable for the volume driven growth of the sector. Diverse products will increase the demand levels of the industry which will lead to speedy growth in the market. The industry is maintaining the growth potential of the market through continuous ongoing course advances and supporting financial flexibility to spend in the finest strategies when they arise.

The major players in this industry include Bosch Security System, Honeywell Security, AssaAbloy, Hikvision Digital Technology, Safran Security, Dahua Technology, Flir Systems, Samsung, Tyco Security Products, and Axis Communications amongst others.

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