LONDON--(BUSINESS WIRE)--The global closed-circuit television (CCTV) camera market is expected to post a CAGR of over 12%, according to the latest market research report by Technavio. However, the market is expected to decelerate on a year-on-year basis during the forecast period. Request a free sample report
The growing demand for IP-based CCTV cameras is expected to drive market growth. These cameras are used for remote monitoring of indoor and outdoor spaces. New technologies such as AI, deep learning, and machine learning are being integrated into these cameras to enhance their video surveillance features. For instance, in July 2018, Zhejiang Dahua Technology introduced IP-based network cameras with built-in face detection and facial recognition powered by AI deep learning algorithms for real-time monitoring. These cameras can store around 10,000 face images and can be used to monitor airports, parks, shopping malls, and schools. Thus, the integration of new technologies is expected to boost the sale of IP-based CCTV cameras during the forecast period.
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As per Technavio, the introduction of deep learning technology, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Closed-circuit Television (CCTV) Camera Market: Introduction of Deep Learning Technology
Currently, deep learning technology is being used by CCTV cameras to perform different functions such as object detection, facial recognition, automatic number plate recognition (ANPR), people counting, and false alarm filter. These cameras are integrated with deep learning algorithms to provide enhanced security and find application in perimeter security and fire prevention. Such features are expected to provide enhanced functionalities which will drive market growth during the forecast period.
“Apart from the introduction of deep learning technology, the integration of AI in CCTV cameras and the incorporation of video analytics in IP-based CCTV cameras are some other major factors that are expected to boost market growth during the forecast period,” says a senior analyst at Technavio.
Global Closed-circuit Television (CCTV) Camera Market: Segmentation Analysis
This market research report segments the global closed-circuit television (CCTV) camera market by product (dome camera, PTZ camera, bullet camera, and box camera) and geographical regions (APAC, North America, Europe, MEA and South America).
The APAC region led the market in 2018, followed by North America, Europe, MEA, and South America. However, during the forecast period, the North American region is expected to register the highest incremental growth due to the growing investment in smart city projects in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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