Surveillance

CCTV market to grow 23 per cent by 2012

By Alice Kok | 30 October 2008

A “Global CCTV Market Analysis 2008 to 2012” report released which looks at the demand for surveillance cameras in the next four years, has predicted that the CCTV market will grow 23 per cent by 2012.

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The report, released by Research and Markets, states that the increase stems from the fact that safety and security have become even more critical with recent terrorism-related incidents.

Thus, the global CCTV market is gaining momentum and is emerging as a big opportunity area for the local as well as foreign CCTV players, distributors and operators all across the world.

The report also stated some key findings for the surveillance market. The global CCTV market including both analog and IP-based CCTV grew at a CAGR of 24.3 per cent in 2007 as compared to 2006, and is forecasted to grow at a CAGR of 23 per cent from 2008 to 2012. It is predicted that huge demand for CCTV will come from the Asia Pacific region in the near future.

Lastly, the report also highlights that intelligent video surveillance system is emerging as a new trend that is driving the video surveillance software market. Various sectors like transportation, retail and healthcare will be able to reap the benefits of an intelligent CCTV system.