Global CCTV Market Overview:
CCTV Market Size was valued at USD 18.49 billion in 2023. The CCTV market industry is projected to grow from USD 21.10 billion in 2024 to USD 58 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.50% during the forecast period (2024 - 2032). The rising safety and security concern and traffic monitoring are driving the growth of the market.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Covid-19 Analysis
The COVID-19 pandemic has had a significant impact on the CCTV Market. The demand for CCTV systems has increased as businesses and organizations look to implement measures to ensure the safety of employees and customers. With more people working from home, there has been an increase in demand for remote monitoring and surveillance solutions. Additionally, the need for contactless and touchless solutions has also driven demand for CCTV systems with facial recognition and other biometric technologies. Furthermore, the heightened awareness of safety and security measures has led to an increase in demand for CCTV systems in both the public and private sectors.
CCTV Market Trends
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Rising safety and security concern
The CCTV market has seen a significant increase in demand for safety and security solutions in recent years. This trend is driven by a number of factors, including an increase in crime and terrorism, as well as a growing awareness of the need for surveillance in public and private spaces. As a result, many companies are investing in new technologies such as high-definition cameras, facial recognition software, and cloud-based storage systems to improve the capabilities of their CCTV systems.
In addition, CCTV technology can be used for other traffic-related applications such as automatic number plate recognition (ANPR) to track vehicle movement and support enforcement activities, traffic violation detection, and the collection of tolls, parking charges, and other fees. Traffic monitoring by CCTV is also important for the security of the public and the infrastructure. CCTV cameras can detect and monitor suspicious activities around the roads and highways, enabling authorities to respond quickly to potential security threats.
CCTV Market Segment Insights:
CCTV Camera Type Insights
The CCTVs market segmentation, based on Camera Type, includes Analogue Camera and Internet Protocol (IP) Camera. The Internet Protocol (IP) Camera is again bifurcated into Wired and Wireless.
Internet Protocol (IP) cameras are a popular and increasingly prevalent type of CCTV technology in the market. These cameras use digital technology to transmit video and audio over an IP network, such as the internet or a local area network (LAN). This allows for remote monitoring and control of the cameras, as well as the ability to store and access recorded footage from anywhere with an internet connection.
July 2022: Hikvision launched its DeepinView bullet-style network cameras with TandemVu technology, extending TandemVu technology to bullet-style cameras. Additionally, TandemVu-enabled bullet cameras are capable of monitoring large scenes and details at the same time, providing improved situational awareness and security capabilities.
February 2021: Hikvision has released the TandemVu PTZ camera range, which integrates PTZ and bullet camera capabilities into a single unit. TandemVu PTZ cameras can monitor large areas and zoom in on specific security incidents simultaneously while maintaining focus on both 'viewpoints'. Separate PTZ and bullet cameras can be deployed in pairs with these cameras.
CCTV Technology Insights
According to Technology, the CMOS Technology segment led the overall market in the CCTV industry in 2021, and it is expected to continue to lead during the forecast period. CMOS technology is a type of image sensor used in CCTV cameras. It is a popular choice in the CCTV market because it is less expensive and more energy efficient than its counterpart, CCD (Charge-Coupled Device) technology. Additionally, CMOS sensors can perform on-chip signal processing, which can improve image quality and reduce costs. Overall, the use of CMOS technology in CCTV cameras is increasing due to its cost-effectiveness and improved performance.
CCTV End User Insights
The CCTV market research segmentation, by End User, the market is segmented into Educational Centers, Hospitals, Hotels, Real Estates, Religious Places, Government, Retail, IT Sector, and Transport Sector. Religious places, such as churches, temples, and mosques, are a significant end-user for the CCTV market. These places often have a high number of visitors and require surveillance to ensure the safety and security of both the visitors and the property. CCTV cameras can help to deter crime and provide evidence in case of an incident. They can also be used to monitor the behavior of visitors, such as for crowd control or to prevent vandalism. According to the MRFR, the reasons above will add to the segment's growth throughout the forecast period.
CCTV Channel Insights
Based on Channel, the CCTV Market has been segmented into Online Channel and Offline Channel. An offline channel for the CCTV market refers to a traditional brick-and-mortar retail store or physical location where customers can go to purchase CCTV systems and equipment. These stores typically have a sales staff on hand to answer questions and provide assistance in selecting the appropriate CCTV system for the customer's needs. Examples of offline channels for the CCTV market include electronics stores, security equipment supply stores, and specialty CCTV stores. As per MRFR analysis, the retail segment would witness high growth during the assessment period.
CCTV Regional Insights
By Region, the study segments the market into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The extensive adoption of advanced CCTV cameras in North America is driven by a growing demand for office safety and secure working premises. In the wake of increased security concerns and the need for remote monitoring, businesses have been investing in advanced CCTV cameras to enhance their security systems. The North American CCTV market is expected to continue to grow in the coming years, driven by a growing need for security and surveillance in both residential and commercial settings.
Europe accounts for the second-largest CCTV industry globally. The increasing uptake of surveillance solutions in government establishments and public protection policies in Europe is driven by the need for enhanced security and public safety. Governments in Europe have been investing in advanced surveillance technologies such as CCTV cameras, facial recognition systems, and license plate recognition systems to improve their ability to detect and prevent crime and terrorist activities.
Further, the countries considered in the scope of the CCTVs market are the US, Canada, Mexico, UK, Germany, France, Italy, Spain, Switzerland, Austria, Belgium, Denmark, Finland, Greece, Hungary, Italy, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Sweden, Romania, Ireland, China, Japan, Singapore, Malaysia, Indonesia, Philippines, South Korea, Hong Kong, Macau, Singapore, Brunei, India, Australia & New Zealand, South Africa, Egypt, Nigeria, Saudi Arabia, Qatar, United Arab Emirates, Bahrain, Kuwait, and Oman, Brazil, Argentina, Chile, and others.
CCTV Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the CCTVs market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the CCTVs industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
Panasonic has a strong focus on innovation and R&D to stay ahead of the market trends and continuously develop new technologies to meet the evolving needs of its customers. The company has invested heavily in R&D in the area of AI and IoT to develop smart surveillance systems that can be integrated with other devices and systems to provide a more comprehensive security solution. Safran Security specializes in the development of integrated security systems that can be customized to meet the specific needs of their customers. These systems can be designed to include a variety of security technologies, such as CCTV, access control, and intrusion detection, all of which can be integrated and managed through a single, centralized platform.
Key Companies in the CCTVs market include
CCTV Industry Developments
On March 15, 2024, Hikvision, a global provider of surveillance systems across the world, launched its new AI surveillance cameras that have advanced facial recognition and behavior analysis. These cameras have use in smart cities, shop security and traffic systems as they provide data and insights in real-time.
In February 2024 Dahua Technology launched a new generation of environmental-friendly CCTV solutions that work on Ultra high-definition video while consuming low power interference.
In January 2024, Bosch Security Systems launched a cloud-based video surveillance systems, which seeks to ease the monitoring of small and medium enterprises. The solution provides flexible storage options alongside an artificial intelligence supported analytics, hence helping companies increase their security without purchasing and deploying elaborate on-site facilities.
In November 2023 Axis Communications launched new outdoor use, compact and weather resistant surveillance cameras for urban outdoor sites. The stated purpose of these devices is for low-light imaging that can be used for smart city applications and in public transportation.
In September 2023 Avigilon, a Motorola Solutions Company, launched its AI video analytics tool as part of its CCTV integration package. The effect of this technology is that it can identify irregularities such as any unattended bags or any odd behavior automatically improving the response time to incidents for policing and private security firms.
In August 2023, Samsung Wisenet started operating in the retail sector through the introduction of CCTV systems with people counting and heat mapping technology. They enable retailers to monitor and counteract abnormal behaviors of customers while also securing their shops, thus integrating surveillance and business optimization.
In July 2023, Pelco by Schneider Electric announced the addition of a new series of 360-degree cameras which utilize high imaging resolution and have a built-in analytic component. The target markets of these cameras are the airports, stadiums, and other mass gathering places where large areas need to be monitored.
CCTV Market Segmentation:
CCTV Camera Type Outlook
CCTV Technology Outlook
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CMOS Technology
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CCD Technology
CCTV End User Outlook
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Educational Centers
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Hospitals
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Hotels
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Real Estates
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Religious Places
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Government
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Retail
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IT Sector
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Transport Sector
CCTV Channel Outlook
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Online Channel
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Offline Channel
CCTV Regional Outlook
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Europe
- Germany
- France
- UK
- Rest of Europe
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Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
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Middle East & Africa
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South America
Intended Audience
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Security Industry
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Healthcare Industry
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Technology Investors
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Regulatory Industries
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Government Bodies
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Defense industry
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Hospitality Industry
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Real Estate Industry
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Transportation Industry
| Attribute/Metric |
Details |
| Market Size 2023 |
USD 18.49 billion |
| Market Size 2024 |
USD 21.10 billion |
| Market Size 2032 |
USD 58 billion |
| Compound Annual Growth Rate (CAGR) |
13.50% (2024-2032) |
| Base Year |
2023 |
| Forecast Period |
2024-2032 |
| Historical Data |
2018-2022 |
| Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Camera Type, Technology, End User |
| Geographies Covered |
North America, Europe, Asia Pacific, Middle East & Africa, and South America |
| Countries Covered |
The U.S, Canada, Mexico, Germany, France, UK, China, Japan, India, Australia, South Korea, UAE, and Brazil |
| Key Companies Profiled |
Hikvision Digital Technology, Honeywell Security, Bosch Security System, Safran Security, Dahua Technology, AssaAbloy, Tyco Security Products, Flir Systems, Samsung, Axis Communications, Panasonic Corporation, Sony electronics, ADT LLC, Guardian Protection Services, and Mobotix AG |
| Key Market Opportunities |
Technological advancements |
| Key Market Dynamics |
Rising safety and security concern Traffic monitoring |
Frequently Asked Questions (FAQ) :
CCTV market was valued at USD 18.49 Billion in 2023
CCTV market was valued at USD 58 Billion in 2032
CCTV market Size is predicted to hit at a CAGR of 13.50% by 2032
North America is expected to hold the highest market share in the global CCTV market
Hikvision Digital Technology, Honeywell Security, Bosch Security System, Safran Security, Dahua Technology, AssaAbloy, Tyco Security Products, Flir Systems, Samsung, Axis Communications, Panasonic Corporation, Sony electronics, ADT LLC, Guardian Protection Services, Mobotix AG, and other.
