Research Overview
Increased Threat to Global Security Drives Video Surveillance Market
Rising instances of security breaches such as attacks on the World Trade Center, bombings in the J.W. Marriott Hotels, attack on the Indian parliament, and train bombings in Madrid have reinforced the need to invest in security devices including video surveillance equipment. Closed circuit television (CCTV) systems have witnessed an increase in demand due to technological improvements and advanced features in terms of integration with other access control technologies like biometrics and digital video software. Smart cameras that provide intelligent analysis of captured video images are also driving the market as the process of surveillance becomes more proactive and efficient.
This Frost & Sullivan research evaluates the potential market for video surveillance equipment with prime focus on the CCTV camera, digital video recorder, monitor, and Internet protocol based camera markets. In addition to highlighting the key drivers and challenges, analysis of geographic and components markets provides greater understanding of market penetration, revenue potential, and growth opportunities.
Increasing Acceptance of Cameras in the Public Area to Spur Uptake of CCTVs
Despite initial setbacks, there is an increasing acceptance of surveillance equipment such as CCTV cameras in public areas. In fact, many U.S. courts are starting to accept stored digital images as evidences during trials. "However, privacy issue is still a major concern and is limiting extensive use of CCTV," explains the analyst of this research. "In order to address this issue, regulatory authorities are trying to get more standards in place and have also suggested notifying the public in case a CCTV camera is located on the premises."
Due to the growing importance of domestic security, there is increasing demand for video surveillance equipment from the individual end user. In addition, technology improvements have removed some of the barriers to purchase such as price, complexity of operating, and installation and are driving uptake in this segment.
Asia Pacific Emerging as a Strong Market for Video Surveillance Equipment
In order to increase revenue generation, manufacturers in the video surveillance equipment industry need to take into account that the product life cycle stage varies from country to country. "For example, while the U.S. and European markets have reached maturity for conventional video surveillance technology, Asia Pacific is still in the late stages of growth and offers strong potential for video surveillance equipment both in terms of manufacturing and consumption," observes the analyst. In addition to the rising security concerns, the markets in the Asia Pacific region are witnessing robust growth due to the development of the major economies such as China, India, South Korea, Taiwan, and Singapore. In many of these economies, a marked change in the social setting is generating needs for security – for the working parents, there is a need to keep track of their children while nuclear families are more concerned about protecting aging family members
View Cart
