CCTV Market size to grow by USD 12,643.33 million from 2022 to 2027, APAC to account for 47% of the market growth - Technavio

NEW YORK, May 23, 2023 /PRNewswire/ -- The CCTV market size is set to grow by USD 12643.33 million between 2022 and 2027 and register a CAGR of  11.92%, according to Technavio's latest market research report. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ADT INC., Axis Communications AB, Cisco Systems Inc., CP PLUS International, DW, GeoVision Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Hanwha Techwin, Honeywell International Inc., IDIS Ltd., Lenovo Group Ltd., LG Corp., MOBOTIX AG, Robert Bosch GmbH, Sony Group Corp., Teledyne FLIR LLC, UNIX CCTV Corp., Zhejiang Dahua Technology Co. Ltd., Zhejiang Uniview Technologies Co. Ltd., and Panasonic Holdings Corp. are some of the major market participants. The increasing government security initiatives, the integration of facial recognition technology in CCTV cameras, growing demand for IP-based CCTV cameras will offer immense growth opportunities, to leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.

CCTV Market 2023-2027: Segmentation

• Product 
• Dome Camera: The market share growth by the dome camera segment will be significant during the forecast period. The dome camera segment was valued at USD 5,903.92 million in 2017 and continued to grow until 2021.
• PTZ Camera
• Bullet Camera
• Box Camera
• Application 
• Public
• Commercial
• Residential
• Geography 
• APAC: APAC is estimated to contribute 47% to the growth of the global market during the forecast period.
• North America
• Europe
• Middle East And Africa
• South America

Insights on the market contribution of various segments, including country- and region-
wise data, historic data (2017 to 2021), and forecast market size (2023 to
2027) : https://www.technavio.com/talk-to-us?report=IRTNTR71524

To help businesses improve their market position, the CCTV market provides a detailed analysis of around 15+ vendors operating in the market. Some of these vendors include ADT INC., Axis Communications AB, Cisco Systems Inc., CP PLUS International, DW, GeoVision Inc., Hangzhou Hikvision Digital Technology Co. Ltd., Hanwha Techwin, Honeywell International Inc., IDIS Ltd., Lenovo Group Ltd., LG Corp., MOBOTIX AG, Robert Bosch GmbH, Sony Group Corp., Teledyne FLIR LLC, UNIX CCTV Corp., Zhejiang Dahua Technology Co. Ltd., Zhejiang Uniview Technologies Co. Ltd., and Panasonic Holdings Corp.

axis.com- The company offers M3057-PLVE Mk II network CCTV camera which is designed with 360 degree panoramic view and can be install on walls and ceilings.

cpplusworld.com- The company offers 5MP WDR network IR vandal dome CCTV camera which is equipped with features of night vision for clarity and superior IR lenses for showing crisp images.

geovision.com.tw- The company offers V TFD4800 indoor CCTV camera equipped with an automatic IR cut filter and IR LED , thus used for day and night surveillance.

The report also covers the following areas:

• CCTV Market size
• CCTV Market trends
• CCTV Market industry analysis

Market Drivers

• Increasing government security initiatives
• Integration of facial recognition technology in CCTV cameras
• Growing demand for IP-based CCTV cameras

Market Trends

• Introduction to deep learning technology
• Integration of AI in CCTV cameras
• Incorporation of video analytics in IP-based CCTV cameras

Market Challenges

• Cyber security risks
• Limitations of data storage
• Recording gaps in wireless CCTV cameras

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CCTV Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist CCTV market growth during the next five years
• Estimation of the CCTV market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the CCTV market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of CCTV market vendors

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