The evolution of world security market has led to the introduction of state of art technology in the electronic security sector. The increase in the number of criminal and terrorist activities across the globe has driven the need to adopt effective and efficient security and surveillance solutions.
CCTV cameras are an essential component of the video surveillance. The application of CCTV cameras vary from monitoring, image recording, and surveillance. However, out of all the applications, surveillance is the most widely adopted application of CCTV cameras. CCTV cameras play a vital role in preventing and deterring crime by recording footages of places where these cameras are installed at. The application of CCTV cameras in public security is huge since these cameras are installed at public areas, streets, and home security. These cameras aid in offering effective monitoring of traffic thus, aiding the police to monitor the traffic and offer help in case of any emergency. The application of CCTV cameras in national security is significant since these cameras are used for border surveillance and also to monitor monuments and infrastructure of national importance.
Digitization in the surveillance market has led to the introduction of effective and efficient CCTV cameras and its integrated solutions. With the changing face of technology there are a varied number of CCTV cameras available in the market which differ on the basis of model types and technology. The software and hardware integrators of CCTV cameras are engaged in offering effective design and installation facilities to their customers. The adoption and installation of CCTV camera in the retail and public security has gained traction globally. The introduction of innovative technology in the CCTV camera market is expected to offer benefits to industries such as hospitality, retail, and government. Robust investments in research and development initiatives is vital in aiding the growth of CCTV camera market worldwide.
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In 2016, North America was the largest market for CCTV cameras, and accounted for a share of about 33%. The region has a high adoption rate of CCTV cameras for public security due to the increased threat to public security from terrorist and criminal activities. Investments in innovative technology both on the software and hardware fronts is trending in the North America CCTV camera industry. The regulatory environment in the U.S. is conducive to the adoption of CCTV cameras for the purpose of surveillance and security as compared to Europe. Furthermore, with the increased investments in research and development of the technology, the North America market is expected to contribute a significant share over forecast period. Stricter adoption regulations has impacted the large scale deployment of CCTV cameras in Europe, however post the Berlin attacks the European government lifted some of its regulations which has driven the demand for CCTV cameras for surveillance purpose in this region. Asia Pacific is expected to witness highest growth rate during the forecast period. The regions of Middle East and Africa and South America are expected to witness a slow growth in the CCTV camera market as compared to the other regions of the world market.