With millions of CCTV cameras monitoring individuals, places of historic importance, traffic signals, healthcare premises, educational institutes, airports, shopping malls, and every possible place or event of significance, ubiquitous surveillance has become a norm. The global CCTV market has obtained traction and regular product and technology developments are being introduced in the market on a regular basis.
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The global CCTV market is driven by the rising crime rates and terror attacks across the globe and increased investments by governments and municipalities as ways of mitigating the same. Heightened concerns regarding safety and protection of employees and intellectual property among companies is also leading to the increased adoption of CCTV cameras in organizational infrastructures.
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The rising number of companies offering technologically advanced products and services at competitive costs has led to increased traction of the market, especially in developing regions, in the past few years. The rising penetration of CCTV systems in the healthcare, banking, and retail sectors is also a major driving force for the global CCTV market.
Some of the major application areas for the global CCTV camera market include fields such as BFSI (banking, financial services and insurance), healthcare, transportation, education, business, and retail.