Global CCTV Market Forecast 2022

The global CCTV is expected to grow at a CAGR of around 12% during 2016-2022. Also as per the research’s findings, IP CCTV cameras are revolutionizing security measures,

CCTV systems are being extensively utilized in the transportation sector to manage traffic flow and enhance highways safety, and they continue to play a significant role in retail sector for valuable management information. On observing the latest trends in the global CCTV market, we found that cloud-based video surveillance, also known as video surveillance as a service (VSaaS) is the coming generation of video surveillance. Besides, the study divulged that High Definition and megapixel cameras are fast penetrating the market, and gigapixel cameras are the next big things.

The global CCTV is expected to grow at a CAGR of around 12% during 2016-2022. Also as per the research’s findings, IP CCTV cameras are revolutionizing security measures, and technology has evolved to allow for a more diverse security monitoring system through high resolution, larger digital storage options and compatibility for integrated analytical software’s, etc. Due to this capability, IP CCTV dominates the global CCTV market, as many of the organizations are updating or installing new IP-based surveillance systems.

On the technical front, IP Storage Area Network (IP SAN) is gaining momentum over digital and network video recorders (DVR/NVR) for storage, as it offers improved scalability, storage capacity, and retention. We observed that the threat of terrorism and an increase in crime rate have also fueled the evolution of video analytics.

Key industry participants include Axis Communications, Bosch Security Systems, Inc., Flir Systems Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Panasonic Systems Networks Co., Ltd., Pelco, Inc., Samsung Techwin, Sony Corporation, Toshiba Corporation, Tyco International Ltd. and Vicon Industries, Inc. among others.