CCTV Cameras Market Share

APAC Market Statistics

Asia Pacific industry is predicted to hold largest revenue share of 50% by 2037. The presence of prominent players such as Panasonic Corp., Samsung, Sony Corp., Hangzhou Hikvision Digital Technology Co. Ltd., Canon India Pvt Ltd., and many more that offer technologically advanced products and services in this landscape is factoring the segment growth. For instance, Hanwha Techwin in December 2022 announced the integration of IP cameras and a remote video platform. This is highly beneficial for hospitals monitoring acute care and high-risk patients 24*7. This will increase the demand for the IP cameras in the coming years.

In Japan, the crime rate is continuously increasing. The reported crime witnessed a growth rate of 29.8% in 2023, which was estimated to be about 12,372 major crimes including robbery, assault, murder, trafficking, and many more. This would act as a major growth factor in the CCTV camera market in this country.

As China has one of the fastest-growing GDP and globalization rates, this led to an increasing security threat. To cater to such challenges, various organizations have adopted CCTV and IP cameras. These cameras have high social surveillance networks all over the country, which is about 9.6 million Km sq. for a population of about 1.4 billion. Furthermore, the total number of CCTV cameras installed in China is 200 million, compared to 50 million for the U.S.

North America Market Analysis

The North America region will also encounter huge growth in the CCTV camera market share during the forecast period with a notable size and will account for the second position. The rapid economic growth in the U.S. and Canada has led to the development of infrastructure such as industrial zones, building smart cities, and many more. According to the Smart America Challenge 2023, estimated that over the next 20 years, city governments in the U.S. alone will spend about USD 41 trillion to modernize their infrastructure and utilize IoT solutions.

Thefts and burglaries in Canada are at a surge which is propelled to drive the market share of the CCTV camera sector. According to a report in 2023, the annual crime rate registered a gain of 5% between 2021 and 2022, which demands more CCTV cameras in this country.

Increasing concerns related to road safety in the U.S. are projected to impact the revenue share of this market in this country. There is also a high demand for CCTV cameras in high-risk areas where safety is required. According to the Department of Transportation 2023, in the U.S., transportation-related incidents took the lives of over 370,000 people between 2011 and 2020. resulted in deaths in the U.S.