According to a report by Research Nester, the global CCTV cameras market is witnessing significant growth. The market is anticipated to record a CAGR of 13% and attain a total market size of USD 27 billion by 2027. The increasing security threat is anticipated to be a major reason for the expansion of the CCTV cameras market during the forecast period.
Dome cameras are expected to be the leading sub-segment during the forecast period, contributing nearly 40% of the total market share. The increasing popularity of dome cameras, coupled with their high application in various industrial sectors, is anticipated to be a major reason for the growth of this subsegment.
Additionally, increasing innovation in CCTV cameras is a major factor in their growth during the forecast period.
Historical relevance
In 1942, CCTV (closed circuit television) was first used in Germany. Unlike TV broadcasts, which can be viewed by anybody with the help of an antenna, the video of CCTV footage cannot be witnessed by outside people.
People outside the circuit cannot view this footage, and the recording could be transmitted through a peer-to-peer or wireline system. During these years CCTV was extensively utilised by Germans and accomplished the purpose of observing rocket launches in 1942. In fact, in the US, CCTV was used to observe nuclear weapon tests from a safe distance. As time passed the usage of CCTV became wide. Cameras were widely used to monitor crowds in UK cities and then in the year 1970s CCTV was used to protect banks. With the advent of 1988, CCTV was used by local authorities, and late 1990s far sight security services Ltd is established.
The timeline of the evolution of cameras is written as follows:
- 1988: Development of a unified platform
- 1999: Moved into the far sight observatory
- 2001: Developed the industry-leading method for dealing with method
- 2003: Web portal access provided to customers
- 2004: Expansion through the acquisition of remote monitoring business
- 2017: Various companies lead the way in 4G CCTV monitoring
With time, the demand for security systems increased and it is one of the primary growth driving factors for the CCTV cameras market. Let us now understand why businesses require video surveillance through CCTV cameras.
Preventing Vandalism and theft: Various security cameras act as a strong impediment in keeping away malicious activities such as break-ins, theft, or vandalism. Installing various surveillance cameras on office and home premises hampers antisocial elements.
Real-time monitoring: The CCTV cameras ensure that live footage is available whenever business owners require it. This live footage ensures that various facts are not misinterpreted.
Enhanced employee productivity: Pick up the example of any office, particularly a workshop or restaurant. It has been proven that installing CCTV cameras makes employees work harder as they are closely monitored.
Efficient Criminal Evidence: CCTV cameras act as a powerful resource when any crime is committed nearby the business premises. They keep a holistic recording of the various incidents which took place and are even utilised in various courts.
Eradicate sexual harassment: Various CCTV cameras serve as strong evidence against criminal activities. According to a study revealed by the Australian Institute of Criminology, approximately 24.5% of matters where the footage was requested were solved thoroughly by the police.
Enriching customer experience
Having CCTV cameras in various retail supermarkets or big shops instills a good feeling in the customers. As a business owner, you will realise that customers’ buying behaviour increases exponentially.
Hence, video surveillance cameras have become an integral part of a fast-paced world. Let us now delve deeper and learn the various statistics related to countries worldwide.
China
According to the findings by the Research Nester, China grasps the record for the most stringently surveyed country in the world. The study found that 54.2% of the world’s 770.1 million CCTV cameras are located in the country. Some of the prominent cities of China have the following statistic:
Taiyuan: 116 CCTVs on per thousand people
Wuxi: 74 CCTVs per thousand people
Hangzhou: 65 CCTVs per thousand people
Beijing: 62 CCTVs per thousand people
England
Among the top countries in the list of the most installed cameras, the only non-Chinese cities which made it to the top list were London. Particularly in London, there are 66 CCTVs installed per 1000 people.
India
On the 16th and 21st rank, there are the Indian cities of Chennai and Hyderabad. In Hyderabad alone, one can easily find 300,100 cameras within the area. The next region is China, which has more equivalent to 26 surveillance cameras recording the movement of 1000 residents.
Iraq
The capital city of Iraq named Baghdad is the most crowded region in the country. The city has 17 cameras monitoring and tracking the movement in every 1000 residents.
Russia
Russia’s capital Moscow currently holds 26th rank for the most surveilled city. There are about 15 security cameras are monitoring on per 1000 individuals.
Singapore
The total number of surveillance equipment situated around the city is about 14 cameras per 1000 individuals. It has also been estimated that approximately 5000 cases were solved in December 2020.
Cameras have been increasingly adopted due to increasing security demand in commercial areas. Furthermore, the CCTV cameras market was valued at USD 14 billion in 2022. It is projected that the market is about to reach USD 51 billion by the end of the year 2033. The market is expected to flourish remarkably in the future and it is a sound decision to invest in this domain.
Source – https://www.researchnester.com/reports/cctv-cameras-market/1298
