July 20, 2020

The global CCTV camera market is expected to attain valuation of USD 31990.8 million by 2024: MRFR(SARS-CoV-2, Covid-19 Analysis)

The report encompasses the major developments within the global CCTV Camera market amidst the novel COVID-19 pandemic. The report offers a thorough understanding of the different aspects of the market that are likely to be feel the impact of the pandemic.

Overview

The global CCTV camera market is projected to account for USD 31990.8 million by 2024, registering a CAGR of 12.90% during the forecast period. Market Research Future (MRFR), in its report, envelops segmentations and drivers to provide a better glimpse of the market in the coming years. Over the past two decades, governments, businesses, enterprises, and residents across the globe have become attentive towards preventing their people and assets from potential threats, such as thefts, terrorist attacks, civil unrest, and natural disasters. Safety of people and assets require real-time monitoring of activities in public places and surroundings. Video surveillance plays a vital role in the development of smarter and safer cities by reducing crime rates and implementing preventive measures.

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Segmental Analysis

Based on product, the global CCTV camera market has been divided into product, technology, application, resolution, services, and region.

By technology, the global CCTV camera market has been segmented into IP security camera and analog camera. The IP security camera segment accounted for the larger market share in 2018, with a market value of USD 11,694.5 million; it is expected to register the higher CAGR during the forecast period. The analog camera segment was the second-largest market in 2018. IP security cameras are primarily connected to an IP network using an Ethernet connection. IP cameras and video servers are equipped with built-in web servers so that the transmitted surveillance video can be viewed directly on the camera, with the use of a web browser over the Internet. Analog cameras can turn the video signal into a format that can be received by a television or other receivers such as VCRs or monitors.

Competitive Analysis

In May 2019, Bosch launched a new product, namely FLEXIDOME IP starlight 8000i fixed dome camera, developed to simplify the video security process. This product can integrate with a smart camera to provide functionalities such as the pan, tilt, roll, and zoom (PTRZ). It also has higher resolutions and frame rates, better light sensitivity, and excellent dynamic ranges, which help in distinguishing individuals or objects for evidence.

In April 2019, FLIR launched a thermal imaging camera that detects heat and provides visibility through smoke and in complete darkness. The product is expected to be used for fire control, search and rescue operations, investigative work, and preventing structural damage.

The key players of the global CCTV camera market are FLIR Systems, Inc. (US), Bosch Security Systems (Germany), CP Plus International (India), Digital Watchdog, Inc. (US), Hangzhou Hikvision Digital Technology Co., Ltd (China), Sony Corporation (Japan), Honeywell International, Inc. (US), Axis Communications AB (Sweden), Hanwha Techwin Co., Ltd (South Korea), and Dahua Technology Co., Ltd (China), among others.

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