In their latest research study "Global CCTV Market Forecast 2022", RNCOS analysts identify that the market for global CCTV is expected to grow at a CAGR of around 12% during 2016-2022.
asmag says: we first published this article in 2015, forecasting the growth of the video surveillance market up to 2022. The video surveillance industry underwent several major transformations in the past 7 years: the increasing dominance of Chinese camera manufacturers, increasing share of IP cameras, and recently the rise of ai-powered edge devices and cloud video surveillance (VSaaS). Make sure to read the top trends in video surveillance in 2022 to see the latest predictions from Hanwha Techwin, Genetec, Axis Communications, Hikvision and Dahua for 2022. Then take a look and see what the 2015 report got right, and what wasn't even imagined back then
Original article as published in December 2015:
The video surveillance market is gaining huge popularity across the world due to rising concerns for security and safety. This has resulted into an increased demand for technically advanced surveillance system, thereby, creating huge growth opportunities for video surveillance manufacturers. In addition, decreasing prices and advanced features are adding growth to the video surveillance market, making it affordable for even smaller firms to embrace the video surveillance technology.
RNCOS analysts identify that the market for global video surveillance is expected to grow at a CAGR of around 12% during 2016-2022.
In their latest research study "Global CCTV Market Forecast 2022", RNCOS analysts identify that the market for global video surveillance is expected to grow at a CAGR of around 12% during 2016-2022. Also as per the research's findings, IP video surveillance cameras are revolutionizing security measures, and technology has evolved to allow for a more diverse security monitoring system through high resolution, larger digital storage options, and compatibility for integrated analytical softwares, etc. Due to this capability, IP video surveillance dominates the global video surveillance market, as many of the organizations are updating or installing new IP-based surveillance systems.
On the technical front, IP storage area network (IP SAN) is gaining momentum over digital and network video recorders (DVR/NVR) for storage, as it offers improved scalability, storage capacity, and retention. We observed that the threat of terrorism and an increase in crime rate have also fueled the evolution of video analytics.
IP video surveillance cameras are revolutionizing security measures, and technology has evolved to allow for a more diverse security monitoring system through high resolution, larger digital storage options, and compatibility for integrated analytical softwares.
To provide a clear picture, the video surveillance market has been divided into three segments: technology, components, and services. By technology, the market is divided into analog-based video surveillance system, IP-based video surveillance system, and wireless-based video surveillance system; while by components, the market is divided into network camera, video analytics, video servers, and video management software. The report also analyzes the video surveillance industry by its application in major sectors like retail, healthcare, education, transport, and banking.
The report also offers a geographical picture of the video surveillance market in five regions: North America, Europe, Asia, Latin America, and Middle East. Additionally, through country level analysis, the report portrays the video surveillance market in major countries like the U.S., Canada, U.K., China, India, etc., which includes study of market size, player's level analysis, government initiatives, and recent developments.
Also, with a view to understanding the competitive landscape, the profiles of key market players with business overview, key financials and recent developments have been included in the report to present a complete picture of the global video surveillance market.