Strong growth predicted for CCTV market

Story link: Strong growth predicted for CCTV market by Jan Harris

According to a new report from RNCOS, entitled Global CCTV Market Analysis (2007-2010), the worldwide CCTV market is expected to grow by 13 per cent year-on-year until 2011. The study includes both IP-based CCTV and conventional systems.

Growth in the market is being driven by high-profile security threats and increasing terrorism. Growth in retail activity is also a contributory factor, with retail sales expected to reach $17.20 trillion by 2011. There is also an increasing demand for CCTV from the healthcare and transportation markets.

RNCOS suggests that the need for low-cost, reliable and innovative technology could also be driving the market.

The Asia-Pacific region is expected to account for most of future demand, particularly from major economies such as China, Singapore, Japan and India.

Although growth is expected to be strong, RNCOS warns that the CCTV market will face challenges such as insufficient coverage, privacy concerns and restricted storage and retention capabilities.