Delhi, India (PressExposure) June 03, 2009 -- The increasing crime, scandals and terrorism has been leading to an increased demand for CCTV camera deployment across different sectors, such as banking, retailing, education and transportation worldwide. With the rising use of surveillance cameras in both public as well as private areas due to its functional diversification, market revenue for the same surpassed US$ 6 Billion in 2008.
The growing need for hi-tech and advanced surveillance systems has been resulting into more enhanced and cost-effective solutions in terms of technology as well as storage, says our new report "Global CCTV Market Analysis (2008-2012)â. With this, the vigorous growth in the IP video surveillance camera market is also benefiting the manufacturers, vendors and service providers in the market globally.
In order to gain extensive insight of the current and future market trends and developments, we have done thorough analysis of the CCTV market across the world. Our research has found that currently, the conventional CCTV camera market constitutes majority of CCTV camera revenues. However, the future of IP-based CCTV camera remains bright, market for which is projected to grow at a CAGR of around 35%-40% for the next few years. On the other hand, market for conventional CCTV cameras will start depicting downward trend in terms of both market share as well as annual growth rate.
âWith the increasing cases of burglaries, thefts, frauds and scandals globally, CCTV systems are being widely used by different fields such as transportation, retail and government, thus opening huge opportunity for the manufacturers of IP video cameras, IP video servers and NVRs worldwideâ, says a Sr. Analyst at RNCOS. In line with this, our research also briefs the technology-wise breakup of video surveillance equipment market through 2012. The market comprises of various segments including conventional PC Card DVRs, Embedded DVRs, Embedded NVRs, and Hybrid NVR/DVRs.
Our research has done detailed analysis of the factors which are propelling the growth of IP based CCTV camera market worldwide. Besides this, the report also provides reason based analysis of the projected growth in deployment of IP-based surveillance systems across various regions over the forecast period. It 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 their market success.
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