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CCTV Market 2021 Key Players, Regions, Company Profile, Growth Opportunity and Challenges by 2030 | Says Kenneth Research

In a recent published report, Kenneth Research has updated the market report for CCTV Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for CCTV Market products.

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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023

The global CCTV market is expected to grow at USD 33.89 Billion by 2020, approx. 18% of CAGR between 2016 and 2020. CCTV offers wide range of advantages for industrial sectors especially in businesses. It offers solutions such as business intelligence, and information management in sectors such as retail to provide real time analysis of the traffic patterns and customer movement in the outlets. The ease of scalability of the CCTV’s allows the businesses to have a better surveillance approach to the employees on the job floor which alternatively fuel the business growth. Furthermore, the distributed intelligence capabilities of the CCTV’s allows the businesses to identify specific behavior and movement patterns in the production processes in the manufacturing sector and also assists monitoring any changes in the system which is also driving the growth in surveillance market.

The use of CCTV cameras at the traffic signals allows the flow monitoring of the traffic, it allows the authorities to understand the traffic density at peak hours and thus aid in reducing the traffic congestions at signals. Moreover, the use of these at the commercial places enhances the safety measures and thus help to reduce the risks from any robbery or theft thereby driving the market. The use of the CCTV’s for video analytics features such as heat mapping, motion detection, people counting, among others is expected to further drive the market growth of CCTV in coming years.

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In addition, the use of IoT in the integration of disparate devices such as smoke detectors, access control panels and surveillance cameras into a common management solution is expected to create strong growth opportunities for the market. The CCTV has various advantages over traditional cameras such as wider viewing angles which is able to produce superior video quality. This allows clear tracking of the work and production process for the businesses. In addition, the CCTV consist of less number of components which eliminates the use of complex wiring used by analog security systems.

The use of CCTV cameras at the traffic signals allows the flow monitoring of the traffic, it allows the authorities to understand the traffic density at peak hours and thus aid in reducing the traffic congestions at signals. Moreover, the use of these at the commercial places enhances the safety measures and thus help to reduce the risks from any robbery or theft thereby driving the market. The use of the CCTV’s for video analytics features such as heat mapping, motion detection, people counting, among others is expected to further drive the market growth of CCTV in coming years. The global CCTV market is expected to grow at USD 33.89 Billion by 2020, approx. 18% of CAGR between 2016 and 2020.

Key Players

The key players of CCTV market includes Bosch Security System (U.S.), Honeywell International Inc. (U.S), Panasonic Corporation (Japan), Hikvision Digital Technology (China), Sony Electronics (U.S.), Dahua technology (China), ADT LLC(U.S.), Axis Communication AB (Sweden), Guardian Protection Services Inc. (U.S.) and Mobotix AG (Germany).

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Global CCTV Market Analysis & Forecast, from 2016 to 2020
• To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the CCTV market
• To provide insights about factors affecting the market growth
• To analyze the CCTV market based on porter’s five force analysis etc.
• To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World
• To provide country level analysis of the market with respect to the current market size and future prospective
• To provide country level analysis of the market for segment on the basis of type and vertical
• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the CCTV market

Target Audience

• Technology Investors
• Technology Providers
• Research/Consultancy Firms
• Infrastructure Providers
• Original Equipment Manufacturers (OEMs)
• OEM Technology Solution Providers
• Government Institutions

Key Findings

• The global CCTV market is expected to reach USD 33.89 Billion by 2020.
• By type, analog CCTV sub segment in CCTV market accounts for the largest market share and is growing with approximately 13% CAGR during forecast period.
• By vertical, banking & finance sub segment holds the largest market share and is growing with approximately 18% CAGR by the end of forecast period.
• Geographically, North America region has been projected to hold the largest market share in global CCTV market followed by Asia Pacific region, while Europe ranks third in the CCTV market.

Regional and Country Analysis of CCTV Market Estimation and Forecast

CCTV market is growing with the positive growth in all the regions. Increasing application areas year on year and advancements in technology and developed network architecture is driving the market on global scale. On the basis of region, the market has been segmented into North America, Europe, Asia-Pacific and Rest of the World. North America is dominating the global CCTV market share followed by Asia Pacific which stands as the second biggest market due to technological advancements and increasing awareness regarding safety and security whereas, Europe stands as third largest.

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The reports also cover country level analysis:
• North America
US
Canada
Mexico
• Europe
UK
Germany
France
Rest of the Europe
• Asia – Pacific
China
India
Japan
Rest of Asia-Pacific
• Rest of the World

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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Email:sales@kennethresearch.com

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Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.

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