Closed circuit television (CCTV) markets in Asia, Europe and North America are forecast to be “booming” through 2014, says three separate reports on CCTV markets on those continents.
Across the globe the video surveillance market has been experiencing significant growth due to rising concerns over security and safety, says ReportLinker, which is marketing the research.
The demand for technically advanced surveillance systems has increased in Asian countries, thereby creating enormous opportunities for CCTV manufacturers, operators, and distributors, says the report, Booming CCTV Market in Asia Forecast to 2014. Asia will gain significant share in the global CCTV market by the end of 2014, with India and China being the key drivers, the study says.
In addition, mobile video surveillance is a fast growing segment in the video surveillance market. The Internet protocol (IP)-based video surveillance market is recording rapid growth in China and is anticipated to account for nearly 26 percent of the total market by the 2014-end. In India too, the overall outlook for IP surveillance looks positive and promising as consumers are shifting from traditional analog CCTV to IP surveillance.
The research also examines the CCTV market in Thailand, Malaysia and Taiwan, ReportLinker says. And the report looks into the competitive landscape by studying the profiles of key companies Bosch, Samsung and Sony, which are operating in the Asian CCTV market.
Rising concerns over security and safety due to increasing terrorist attacks and other criminal activities have led to an enormous growth in the European video surveillance market during the last few year, says the report, Booming CCTV Market in Europe Forecast to 2014.
As per estimations listed in the report, the United Kingdom’s CCTV market will expand at a compound annual growth rate (CAGR) of around 15 percent during 2012-2014 as the level of surveillance is increasing in the country, according to the report. The U.K. is one of the world’s top destinations in terms of development and maturity of the CCTV market. The country represents the most mature market in the world in terms of number of cameras installed. The report has also studied how the CCTV market is performing in other European countries, including Russia, Italy and Germany, and what shape it would take in near future.
ReportLinker’s research work also includes an introduction to the surveillance technology and surveillance components finding place in the European CCTV market, the study says. On the technical front, IP storage area network (IP SAN) is gaining momentum over digital and network video recorders (DVR/NVR) for storage. The threat of terrorism has also fueled the evolution of video analytics. With a view to presenting a balanced outlook, the report has also looked into the competitive landscape and has brief profiles of key companies Axis Communication, Bosch and Panasonic—which are operating in the European CCTV market.
In North America, the CCTV market has already witnessed an exponential growth and is still expanding remarkably, says the report, Booming CCTV Market in North America Forecast to 2014.
Video surveillance cameras are extensively used at public places and due to increasing security concerns and technological innovations, like the migration to digital, fully-networked systems, the United States is the world’s largest market for security products and services. The CCTV market in both the United States and Canada will grow at an impressive compound annual rate in the coming few years, the study says.
Increased applications of CCTV in retail outlets, port security, and regional airport security will spur U.S.-CCTV market growth, and there are numerous opportunities for vendors to sell security equipment in the U.S. education sector. The study also discusses how the video surveillance market is performing in Canada and which factors would propel the growth in near future, according to ReportLinker.
The report also covers the profiles of key players—Honeywell, Pelco and Sony.