Increasing adoption of CCTV Technology owing to safety and surveillance is driving the CCTV industry, says RNCOS in its latest research report.
The CCTV market is gaining huge popularity across the world due to rising concerns for security and safety. This has resulted into an increased demand for technically advanced surveillance system, thereby, creating huge growth opportunities for CCTV manufacturers. In addition, decreasing prices and advanced features are adding growth to the CCTV market, making it affordable for even smaller firms to embrace the CCTV technology.
According to our report “Global CCTV Market Forecast 2022”, global CCTV market is expected to grow at a CAGR of around 12% during 2016-2022. The technological evolution has diversified the security monitoring system through high resolution, larger digital storage options and compatibility for integrated analytical software’s, etc., thereby driving the industry.
Further, a sharp rise in terrorism activities has prompted organizations, authorities and individuals to devise effective response mechanisms. Physical security has become essential for enterprises looking at solutions to address everything from pilferage to theft and terrorism. This has led to an increased demand for solutions like IP video surveillance in sectors like public transport, hospitality, airports, BFSI and education, prompting organization to increasingly incorporate video surveillance into their enterprise IT security plans.
Further, the global CCTV market has been witnessing significant growth, owing to rise in the demand of CCTV’s across the globe due to growing focus of government towards public safety and city surveillance. In future, the global CCTV market is expected to emerge as an opportunity for CCTV players in different sectors like Healthcare, Transportation, Banking, etc.
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by Shushmul Maheshwari (a month ago!)