13% growth predicted in global CCTV market

The report provides insight into the worldwide CCTV market by analysing its present performance and future prospects. It provides a rational analysis of the global CCTV market by focusing on regions like North America, Europe, Asia-Pacific and rest of the world. Emerging trends, evolving technologies and key opportunities and challenges vital to the success of the worldwide CCTV industry are identified.

The worldwide CCTV market, which comprises both IP-based CCTV and conventional CCTV, is anticipated to increase at a Compound Annual Growth Rate of over 13% for the period spanning from 2007 to 2011.

The double-digit growth prediction springs from an increasing awareness regarding the need for increased security and the technological developments that are driving the market for IP video surveillance systems beyond expectations.

According to the report issued by industry research firm RNCOS, the global CCTV market has been driven by various factors such as mass surveillance, IP-based video surveillance, rising threat of terrorism, growing security concerns, and need for a low cost, reliable and innovative technology along with strong government efforts and increasing retail activity.

Asia-Pacific is the region identified as the one from where the majority of future demand will stem. Growth is led by the advancement of the major economies of India, China, Singapore, Japan, and Hong Kong.

The global CCTV market forms a lucrative market as it offers major opportunities to the related industries like equipment manufacturing, semiconductor industry, retail and transportation. However, for maximum gain and growth, the global market needs to overcome challenges like insufficient coverage, privacy concerns, and restricted capability in terms of storage and retention.