Increasing sales of CCTV owing to security concerns is driving the industry, says RNCOS in its latest research report.
The rising concerns for security and safety has led to huge popularity of the CCTV market across the world. This has resulted into an increased demand for technically advanced surveillance system, thereby, creating huge growth opportunities for CCTV manufacturers. The global CCTV market is expected to emerge as an opportunity for CCTV players in different sectors like healthcare, transportation, banking, etc. Owing to the prevailing conditions, the global CCTV market is forecasted to grow at a CAGR of 12% during forecasted period of 2016-2022.
According to our report “Global CCTV Market Forecast 2022”, increasing concerns of national and global securities has been a major driver in the increasing adoption rate coupled with technological advancement. Additionally, shift in consumer behavior driven by progressive integration of the modern technology that incorporates small size, video quality, Internet compatibility and intelligence, into their surveillance systems has also propelled the CCTV industry.
Sharp rise in terrorism activities has prompted organizations, authorities and individuals to devise effective response mechanisms. Physical security has become essential for enterprises looking at solutions to address everything from pilferage to theft and terrorism. This has led to an increased demand for solutions like IP video surveillance in sectors like public transport, hospitality, airports, BFSI and education, prompting organization to increasingly incorporate video surveillance into their enterprise IT security plans.
Recently, Mysuru has intensified patrolling along the outskirts of the city and officials announced installation of cameras at all entry point to monitor vehicles entering and leaving the city, aiming at keeping a close watch on communal elements and other violators. With rise in rate of crime and other violations, the installation of CCTV has become a necessity in the modern age which would continue propelling the industry in the future.
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