Asia to drive growth of CCTV market
A string of terrorist attacks in India, Indonesia, and Pakistan has driven governments and private organizations in Asian countries to invest more in security; CCTV manufacturers will benefit from this trend
Rising instances of security breaches, such as the J. W. Marriott Hotel bombing, attack on the Indian parliament, and train bombings in Madrid, have reinforced the need to invest in security market, including video surveillance or CCTV market. These emerging security needs are propelling the growth of the CCTV market worldwide. An update research report from RNCOS, “Global CCTV Market Analysis (2008-2012),” says that the global CCTV market will grow at a CAGR of more than 20 percent from 2010 to be worth around $23 billion by 2012 end.
The research firm says it has done extensive research on the CCTV market across the world and has carried out detailed analysis of the major geographical regions of the world like Americas, Europe, and Asia from the perspective of CCTV market. After studying the current trends, “we have concluded that Asia will dominate the global CCTV market, accounting for a share of over 45 percent by the end of 2012. We have highlighted and analyzed various factors that will make the Asian region the fastest growing CCTV market in the world,” the research firm says.
The report also identifies various countries in the region that will drive the future growth of the CCTV market in Asia through 2012. The countries covered in the report include India, China, Thailand, Malaysia, Singapore, Indonesia, Philippines, Taiwan, and Australia. “Our country-level analysis projects that countries like India, Malaysia, China and Thailand will dominate the region’s CCTV market by growing at CAGR of over 30 percent, around 30 percent, over 27 percent, and over 15 percent respectively between 2010 and 2012.”
