Rapid growth predicted in global CCTV market
Story link: Rapid growth predicted in global CCTV market by Lin Freestone
The worldwide CCTV market is expected to grow by 13% every year until 2011, according to research conducted by RNCOS. The growth is expected to cover both IP-based CCTV and conventional systems.
Security concerns over a rising threat of terrorism, together with increasing retail activity, has driven the demand for low-cost, reliable and innovative technology. However, the CCTV market needs to overcome challenges like insufficient coverage, privacy concerns and restricted storage and retention capabilities.
The study suggests the majority of future demand will come from China, Singapore, Japan and India. The report, titled Global CCTV Market Analysis (2007-2010), analyses present performance and future prospects and offers an insight into some of the key opportunities for the industry.
It is anticipated that opportunities in the CCTV market will be opened up by a retail revolution, which will see sales reach $17.20 trillion by 2011. The global CCTV market forms a lucrative market as it offers many opportunities to the related industries like equipment manufacturing, semiconductor industry, retail and transportation.
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