A new research report by Persistence Market Research highlights the scenario of the global CCTV camera market – the report is titled “CCTV Camera Market: Global Industry Analysis 2012-2016 and Forecast 2017-2025.” This comprehensive research report highlights the factors that are impacting the growth of the global CCTV camera market.
According to the analysis, the global CCTV camera market is expected to reach a market value of over USD 29,800M by the end of 2025, growing at a stellar CAGR of 15.7% during the forecast period. This exceptional growth is the result of introducing new and advanced technology enabled cameras in the global market and also due to rising safety concerns in both residential as well as commercial areas.
Companies in the global market are focusing on reaching untapped and rural areas to increase the scope of application for CCTV cameras. This expansion will help companies improve their customer base. The rural markets in developing regions have huge growth potential. In order to target these markets, manufacturers can lower the prices of CCTV cameras, as these are price sensitive markets. There are also increasing safety concerns in various regions. Manufacturers are now focusing on advancing the technologies used in CCTV cameras so as to attract more customers. Among other trends, the global CCTV camera market is expected to witness a rise in the usage of IP address based cameras