The Global Market for CCTV and Video Surveillance Systems is Projected to Exceed US$30 Billion by 2020

Robust Demand from Governments for Safeguarding People & Infrastructure Drives the CCTV and Video Surveillance Systems Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global CCTV and Video Surveillance Systems market. The global market for CCTV and Video Surveillance Systems is projected to exceed US$30 billion by 2020, driven by surging demand from governments across the world and evolving technologies targeted to improve functional expertise and operational efficiency.

Security solutions and systems represent a vital component in the security plans of governments, building owners and organizations across the globe. One of the most promising electronic security solutions, CCTV and video surveillance systems is witnessing strong growth driven by the rising need to secure and monitor people, resources, assets, and critical infrastructure against the backdrop of increasing safety and security concerns. Key market dynamics of the video surveillance market resulting from the convergence of physical security and information technologies (IT) in recent years include massive installation of cameras, increasing focus on video quality and retention times and growing need for efficient, flexible, and reliable storage solutions. Balancing the fine line between privacy and protection represents the most important challenge for both vendors and governments worldwide as concerns increase across the world about the perceived intrusion of an individual’s privacy by federal agencies.

Surging rise in government security projects in various countries represent the primary growth driver for the market. The need to ensure safety and security of common man and public infrastructure makes government sector a major consumer of CCTVs and video surveillance systems. As government bodies focus more on safeguarding public places such as airports, railway stations, university campuses, healthcare institutions, public amusement parks, and offices, among others, deployment of CCTVs and video surveillance systems assumes top priority. Additionally, CCTV systems are increasingly being deployed in military applications as a security enhancement to track the movements of vehicles, inventory and army personnel. Other government projects such as deep sea oil and gas exploration sites are also making use of CCTV and video surveillance systems for locating personnel, which is of critical importance in ensuring personnel safety. Non-security deployments in logistics and traffic management are also helping contribute significantly to market growth. Other important factors poised to benefit market prospects in the near term include integration of new innovative technologies, expanding application areas, and migration of vendors from analog security systems to IP-based video cameras and surveillance systems. Although, the government sector continues to remain the largest end-use market, commercial establishments and households are witnessing increasing implementations over the last few years, due to heightened perceived threat of theft, criminal activity and terrorism.

As stated by the new market research report on CCTV and Video Surveillance Systems, Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 16% over the analysis period. Burgeoning economies, increase in foreign investments, rise in business formation activities, growing crime rates, robust commercial and residential construction activity, growing number of civil infrastructure projects and public entertainment facilities, and booming enterprise, healthcare and hospitality sectors, and rising focus of regional governments on security issues represent key growth drivers in the region.

Key players covered in the report include ADT LLC, Axis Communications AB, Bosch Security Systems, Cantronic Systems, Inc., Dedicated Microcomputers Ltd., Diebold, Inc., Guardian Protection Services, Inc., Hanwha Techwin, Hikvision Digital Technology Co., Ltd., Honeywell International, Inc., Huviron Co., Ltd., Mobotix AG, Panasonic Corporation, Secom Co., Ltd., Sony Electronics, Inc., Swann Communications Pty. Ltd., Toshiba America, Inc., Tyco International Ltd., UTC Building and Industrial Systems, Vanderbilt Industries, Yoko Technology Corp., and Zhejiang Dahua Technology Co., Ltd., among others.

The research report titled “CCTV and Video Surveillance Systems: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections in value for the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America), and Rest of World. Product segments analyzed in the report include Cameras, Recorders, and Monitors.

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.