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Researchers at RNCOS, who conducted the study, said the growth would cover both IP-based CCTV and conventional systems.
Increased security concerns, a rising threat of terrorism and increasing retail activity have all been cited as possible reasons for the growth. RNCOS said other factors like the need for low-cost, reliable and innovative technology could also be driving the market.
The study suggests the majority of future demand will stem from the Asia-Pacific region, which is home to major economic players like China, Singapore, Japan and India.
According to RNCOS, opportunities in the CCTV market will be opened up by a ‘retail revolution’, which will see sales hitting US$17.20 trillion by 2011. The research firm said other industries like healthcare and transportation would also drive demand.
But, RNCOS warned, the world’s CCTV market needs to overcome challenges like insufficient coverage, privacy concerns and restricted storage and retention capabilities.
A RNCOS spokesperson said, “Despite these shortcomings the global CCTV market forms a lucrative market as it offers a plethora of opportunities to the related industries like equipment manufacturing, semiconductor industry, retail and transportation.”
The full report, entitled “Global CCTV Market Analysis (2007-2010)” analyses present performance and future prospects and offers an insight into some of the key opportunities for the industry.
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Report predicts double digit growth for CCTV marketResearchers at RNCOS, who conducted the study, said the growth would cover both IP-based CCTV and conventional systems. Increased security […]
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