IP networks to drive CCTV market in future
In future, network IP technology will emerge as the leading CCTV technology. The reason for the dramatic growth includes the ability to monitor the CCTV or video surveillance systems through the internet or over IP.
RNCOS anticipate that the IP-CCTV surveillance systems will constitute around 65 percent of the total CCTV market worldwide by the end of 2013. Various other factors that will drive the IP technology market in coming times have also been covered in the report.
The research study also indicates that Asia will witness robust growth in terms of CCTV technology adoption. Backed by rapid economic growth and flourishing industrial and service sectors, developing countries, such as, India and China have emerged as the most potential markets for CCTV surveillance.
CCTV systems can be used in the transportation sector to control traffic flow, raise revenue, and improve highway safety. CCTV cameras in road surveillance smooth out traffic congestion, which could otherwise lead to costly and deadly accidents, said the research firm.
Buoyed by increasing use of CCTV security systems in the transportation sector, the transportation market spending on video surveillance worldwide is expected to grow at double-digit growth rate by 2013.
RNCOS found that besides transportation, sectors like retail and healthcare have immense potential to drive the growth of the CCTV market. Our report details the potential growth areas for the CCTV market along with their future forecast.
However, to ensure rapid growth of the CCTV market, few challenges need to be addressed as soon as possible. Privacy issues and limited retention capabilities are two of the key challenges, adds the research firm.
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