NewswireToday - /newswire/ -
Delhi, New Delhi, India, 2007/12/01 - Increasing awareness regarding the need for increased security and the technological developments are driving the market for IP video surveillance systems beyond expectations.
RNCOS has recently released its market research report "Global CCTV Market Analysis (2007-2010)" to discuss the current and future market of the global CCTV market. As per the report, worldwide CCTV market, which comprises of both IP-based CCTV and conventional CCTV, is anticipated to increase at a CAGR of over 13% for the period spanning from 2007 to 2011.
According to the report, the global CCTV market has been driven by various factors such as mass surveillance, IP-based video surveillance, rising threat of terrorism, growing security concerns, and need for a low cost, reliable and innovative technology along with strong government efforts and increasing retail activity.
The study identifies Asia-Pacific region as the region from where the majority of future demand will stem. This region is experiencing excellent growth led by the advancement of the major economies like India, China, Singapore, Japan, and Hong Kong. The report forecasts that Asia-Pacific CCTV market will continue to post rapid growth in future increasing at a CAGR of nearly 13% over the period from 2007 to 2010.
As the world is seeing the retail revolution (the worldwide retail sales are projected to climb up to US$ 17.20 Trillion by 2011), this sector has emerged as the chief area that offers huge prospects for the global CCTV market. The retailers would get the advantage of examining the loss of cash or inventory, general pilfering and prevention of crime. The other opportunity areas for the CCTV market lies in industries like healthcare, and transportation, report adds.
However, the global CCTV market needs to overcome such challenges as insufficient coverage, privacy concerns, and restricted capability in terms of storage and retention for maximum gain and growth. Despite these shortcomings, the global CCTV market forms a lucrative market as it offers a plethora of opportunities to the related industries like equipment manufacturing, semiconductor industry, retail and transportation.
The RNCOS report "Global CCTV Market Analysis (2007-2010)" provides keen insight into the worldwide CCTV market by analyzing its present performance and future prospects. It provides a rational analysis of the global CCTV market by focusing on regions like North America, Europe, Asia-Pacific and rest of the world while notifying the emerging trends, evolving technologies and key opportunities and challenges vital to the success of the worldwide CCTV industry.
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.