Global Closed-circuit Television (CCTV) Camera Market 2019-2023 | Introduction of Deep Learning Technology to Boost Growth | Technavio
The global closed-circuit television (CCTV) camera market is expected to grow by USD 8.65 billion during 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Vendors in the market are introducing IP-based CCTV cameras that can be used for remote monitoring of indoor and outdoor spaces. Some vendors are integrating the latest technologies such as AI, deep learning, and machine learning with CCTVs to improve video surveillance capabilities. For instance, in 2018, Zhejiang Dahua Technology introduced IP-based cameras with built-in facial recognition technologies backed with AI deep learning algorithms for real-time monitoring. The integration of such innovative technologies has boosted the demand for IP-based cameras among end-users. These factors are driving the growth of the global closed-circuit television (CCTV) camera market.
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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
The integration of deep learning enables CCTV cameras to perform various tasks such as object detection, facial recognition, automatic number plate recognition (ANPR), people counting, and false alarm filter. Hence, many vendors are emphasizing on the integration of deep learning technology in their CCTV products to process data, understand human speech, and visually recognize objects. For instance, FacePro is a facial recognition software by Panasonic. It is integrated with deep learning technologies that automatically adjust camera settings to shoot optimal images best suited for facial recognition. The introduction of such innovative technologies is providing enhanced functionalities for end-users. This will have a positive impact on the growth of the market during the forecast period.
"Integration of AI in CCTV cameras and the incorporation of video analytics in IP-based CCTV cameras will further boost market growth during the forecast period," says a senior analyst at Technavio.
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Global Closed-Circuit Television (CCTV) Camera Market: Segmentation Analysis
This market report segments the global closed-circuit television (CCTV) camera market by product (dome camera, PTZ camera, bullet camera, and box camera) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to increasing investments in the development of infrastructure in airports, shopping centers, and retail shops in the region along with increasing focus on smart city initiatives.
Technavio's sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Customer Landscape
Geographical Segmentation
- Geographic comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Landscape disruption
- Competitive scenario
Vendor Analysis
- Vendors covered
- Vendor classification
- Market positioning of vendors
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