CCTV Camera Market Forecasts to 2030 - Global Analysis By Product Type, Sensor Type, Technology, Services, Resolution, Application, End User and By Geography

According to Stratistics MRC, the Global CCTV Camera Market is accounted for $44.99 billion in 2023 and is expected to reach $150.26 billion by 2030 growing at a CAGR of 18.8% during the forecast period. Video surveillance, sometimes referred to as closed circuit television (CCTV), is primarily used for security and monitoring. It has a digital video recording system built in to store data and are employed for a variety of tasks, including activity monitoring, evidence collection, and recording. Additionally, they contribute to a drop in crime. The worldwide market offers a variety of CCTV camera types, including IP cameras and motion detector cameras that can detect movement as well as providing other functions like audio recording with video and others. The digital CCTV camera system is simple to install and gives crisp, colourful pictures in a variety of sizes and forms.

According to the World Construction Report in 2021, investments in China related to smart city projects related to advanced technologies reached around USD 30 billion in 2021 and are expected to reach USD 38.92 billion.

Market Dynamics:

Driver:

Increasing crime rates

Over the past several years, there has been a noticeable increase in criminal activities, leading to a major surge in the demand for closed-circuit television (CCTV) cameras to protect the safety of the public. Sales of dome, bullet, IP, and other types of surveillance cameras have increased as a result of government pushes to utilise more security systems in public spaces. The demand for CCTV cameras for residences has also increased as a result of the rising crime rate. As urbanisation picks up speed, a boom in demand for home CCTV systems is expected. As a result, it is anticipated that rising crime rates and security-related worries would fuel market expansion.

Restraint:

Data security issues related to video surveillance

It is anticipated that growing privacy worries about safeguarding video data against theft and hacking would impede product adoption. Organisations are prohibited from retaining video footage due to the increased danger of video data being exploited in camera recorders on public clouds and the rising number of data breaches. Networked video surveillance systems are increasingly susceptible to hacker assaults, and DDoS attacks are launched against specific systems. Additionally, the high production costs linked to systems based on sophisticated technology restrict market expansion.

Opportunity:

Increased new products release in keeping with technological advancements

To keep up with evolving technological breakthroughs, CCTV camera manufacturers are creating new systems that incorporate technologies like facial and AI recognition. CCTV camera manufacturers are concentrating on the introduction of cutting-edge and novel goods as demand for security and surveillance systems rises. For instance, in October 2021, Hikvision, a well-known name in the security and surveillance systems industry, unveiled its new intelligent radar PTZ camera. This surveillance camera has a 4 MP resolution and a 40X long-range zoom. One of the best products on the market for CCTV cameras is made by Hikvision.

Threat:

Chinese manufacturing technology concerns

Concerns over Chinese manufacturing technologies are expected to be a significant barrier to the market's expansion in several countries, including the U.S. For example, in June 2021, American officials were considering a ban on a number of Chinese items, including those made by security camera manufacturers including Dahua Technology and Hangzhou Hikvision Digital Technology.

COVID-19 Impact:

The COVID-19 pandemic outbreak had a negative effect on the majority of markets throughout the world. Numerous governments imposed lockdowns to stop the spread of the illness as the coronavirus spread throughout the world and caused a pandemic. However, due to the expanding range of applications for CCTV cameras in the detection of coronavirus infections, the commerce in CCTV cameras remained strong throughout the pandemic. In the post-pandemic age, the need for CCTV cameras is anticipated to expand significantly, and items including Wi-Fi CCTV cameras, wireless CCTV systems, wireless IP cameras, dome cameras, and others are likely to experience strong sales.

The bullet CCTV segment is expected to be the largest during the forecast period:

The bullet CCTV segment is estimated to have a lucrative growth, as these cameras got their moniker from their bullet-like cylindrical form. Typically, bullet cameras have a fixed lens and a rather constrained field of vision. Bullet cameras are also simpler to modify and reposition. Bullet cameras often function well for long-distance observation. When one wants people to see and understand the area is being watched, the bullet camera works nicely. It is therefore often used in industrial settings, at traffic signals, and in high-crime regions.

The IP security camera segment is expected to have the highest CAGR during the forecast period:

The IP security camera segment is anticipated to witness the highest CAGR growth during the forecast period, due to the quick switch from analogue to IP cameras that has revolutionised the adoption of video surveillance solutions, enabling the development of video analytics and neural networks as well as producing crisper, higher-definition digital pictures. Since IP cameras send really digital data, they provide higher visual information and are therefore more suited for facial recognition and licence plate identification. Additionally, the increase in manufacturing has resulted in lower pricing and a wider spread of usage.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to growing government asset protection needs have resulted from increased investment in smart cities. Additionally, roughly of the world's cameras or about surveillance systems are growing to have a huge rise in China. In China, there are about 1.46 billion people and 372.8 cameras for every 1,000 people. Additionally, the industry is being driven by an increase in public surveillance equipment imports across the nation which propels the growth of the market.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to increasing infrastructure development initiatives and rising demand from public spaces. Additionally, increasing rates of theft and burglary in the United States and Canada are anticipated to fuel market expansion in North Carolina, Washington, Colorado, and Ohio. Many governments, including those in the US, Canada, and Mexico, are making significant efforts to implement sophisticated monitoring systems to safeguard assets thereby enhancing the growth of the market.

Key players in the market

Some of the key players profiled in the CCTV Camera Market include Bosch Security Systems Inc., Axis Communications AB, Panasonic System Networks Co., Ltd., Hangzhou Hikvision Digital Technology Co., Ltd., HIKVISION Digital Technology Co, Ltd. , Honeywell Security Group, Sony electronics Ltd., Zhejiang Dahua Technology Co., Ltd, Mobotix AG, Geovision Inc., Aditya Infotech Ltd., Zicom Electronic Security Systems, Dahua Technology India Pvt. Ltd., FLIR Systems Inc., D-Link India Limited, Godrej Security Solution, Electronic Eye Systems, Vantage Security Ltd and Videocon Industries Limited

Key Developments:

In June 2023, Bosch is pleased to announce the launch of its new IP-based horn loudspeakers and amplifier module: the high-output LHN-UC15L-SIP horn (for long-throw applications), the compact LHN-UC15W-SIP horn (for wide-angle coverage) and the AMN-P15-SIP amplifier module.

In June 2023, Axis Communications announces new additions to AXIS M42 Dome Camera Series offering intelligent analytics based on deep learning on the edge. Ideal for indoor surveillance applications, the series is now expanded to include 2 MP and 8 MP cameras and models with OptimizedIR.

In April 2023, Bosch introduces software, hardware, and services at ISC West for smart systems that are easy to install and manage, Bosch will showcase new software, hardware, and services that increase security and safety, simplify configuration and maintenance, and enhance ease of use.

Product Types Covered:

• Bullet CCTV
• Box CCTV
• C-Mounted
• Dome CCTV
• PTZ Camera
• Fixed Bullet CCTV
• Positioning Cameras
• On-Board Cameras
• Other Product Types

Sensor Types Covered:

• CCD Sensor-based Cameras
• CMOS Sensor-based Cameras

Technologies Covered:

• Analog Camera
• IP Security Camera
• AI Based Camera

Services Covered:

• Professional Service
• Managed Service

Resolutions Covered:

• HD
• Non-HD

Applications Covered:

• Homeland Security
• BFSI
• Logistics & Transportation
• Hospitality
• Retail
• Other Applications

End Users Covered:

• Residential
• Commercial
• Government
• Industrial
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances