This Key Note market report examines the UK CCTV market, which has experienced a downturn since 2008 owing to the recession. Key Note estimates that the value of the CCTV market including installation and maintenance as well as equipment, but excluding the cost of monitoring fell by 16.5 percent between 2009 and 2010, to more than US$ 660 million at end-user prices.
This Key Note market report examines the UK CCTV market, which has experienced a downturn since 2008 owing to the recession. Key Note estimates that the value of the CCTV market including installation and maintenance as well as equipment, but excluding the cost of monitoring fell by 16.5 percent between 2009 and 2010, to more than US$ 660 million at end-user prices.
Since the second half of 2008, the CCTV market has been affected simultaneously by the crisis in the banking and finance sector, the economic recession and the demise of many retailers. This has had a direct impact on the CCTV market as sales from both the banking and retail sector help drive the industry.
However, the UK remains a strong market for CCTV, with great potential for further growth if and when the economy stabilizes. Currently, the CCTV market is dominated by analog systems, although this offers potential growth for upgrades to better technological systems, such as IP technology. Equipment that can integrate old analog systems with the latest digital technology is also becoming increasingly popular within the CCTV market.
Threats of terrorism, crime and antisocial behavior are key drivers in the CCTV market, with surveillance becoming essential in public places. Furthermore, CCTV is used to ensure the safety of the public; for example, by monitoring access to hazardous areas. CCTV is also used for a variety of other reasons, with many systems specifically designed to fit each user's specific needs.
Key Note forecasts that the CCTV market will rise in value by 3.9 percent to more than $680 million in 2011, followed by consistent growth to 2015. This growth is predicted as businesses become more financially secure, the construction industry has some growth and London prepares for the 2012 Olympics games, which will be a key driver in the CCTV industry over the next two years.