Report: Global CCTV Market Expected To Grow 23 Percent By 2012
Research and Markets recently released a report, “Global CCTV Market Analysis (2008-2012),” that looks at the demand for CCTV products in the next four years.
The report says that with increasing safety and security concerns worldwide, the global CCTV market is gaining momentum and is emerging as a big opportunity area for the local as well as foreign CCTV players, distributors and operators all across the world.
The report predicts the future direction of the market that is based on the growth of base drivers, like security needs and technological developments, thus helping the clients to analyze the opportunities and factors critical to the market success.
Some of the key highlights from the study include:
- The global CCTV market (including both analog and IP-based CCTV) grew at a CAGR of 24.28 percent in 2007 over 2006 and is forecasted to grow at a CAGR of approx. 23 percent from 2008 to 2012.
- The global demand for CCTV systems is escalating at a faster pace due to a robust growth in the IP-based CCTV surveillance systems as compared to the analog ones.
- In 2006, North America and Europe accounted for more than 85 percent of the global CCTV market.
- It is expected that major demand for CCTV systems will come from the Asia-Pacific region in future.
- Intelligent video surveillance system is emerging as a new trend that is driving the video surveillance software market.
- Various sectors like retail, healthcare and transportation represents the opportunity areas for the global CCTV market.