CCTV Cameras Market Trends

Growth Drivers

• Integration of AI-powered video analytics- Integrating cloud-native solutions and AI-powered video analytics has resulted in a shift from analog to digital video systems. AI vision solutions or computer vision uses a highly sophisticated type of AI known as convolutional neural networks. These analyze images and video footage looking for behavioral and traffic patterns. In September 2023, Teledyne FLIR launched a new FLIR FC-Series AI CCTV camera with motion-based analytics and a deep neural network (DNN). The FC-Series AI camera creates images based on the heat-map analysis of humans and objects, instead of relying solely on visible light. The onboard thermal imager supports <25 milliKelvin (mK) an industry-leading thermal sensitivity and Noise Equivalent Temperature Difference (NETD) values. 
  
  AI-based surveillance cameras have a vital use case in monitoring ambient air quality. These CCTV cameras installed in public spaces can analyze the correlation between air pollutants and traffic volume using Particle Swarm Optimization (PSO) of sensor data. In a major technological intervention to address the rising industrial air pollution, the Government of Odisha piloted the installation of AI-integrated cameras in 2022.
• Rising IoT technologies- CCTV camera companies are developing new products to keep up with the rapid advancements in technology including real-time video streaming, AI, object tracking, behavioral analysis, and facial recognition. The launch of state-of-the-art products is the primary focus of CCTV camera companies, as the demand for security and surveillance systems is rising.
  
  For instance, in October 2021, Hikvision, a well-known brand in the security and surveillance systems industry, unveiled its newest intelligent radar PTZ camera. This surveillance camera has a 4 MP resolution and a 40X long-range zoom. Furthermore, the thermal imaging systems  revenue has increased tremendously, propelled by the adoption of IoT in video monitoring. Research Nester estimated in 2023 that IoT connections had increased by 18% from 2022 to 2023 by more than 14 billion active IoT endpoints.
• Increasing number of government initiatives for security- Growing government efforts to enhance security will generate a lucrative demand for opportunities for CCTV camera market expansion. Safe and Sound Security published a report in 2024, anticipating that the School Violence Prevention Program by the federal government will provide up to 75% of the money needed for school security measures, including grants for security cameras. Additionally, in places where physical monitoring isn’t possible, CCTVs are a great option that can render complete safety.

Challenges

• Security and privacy concerns- It is anticipated that growing privacy concerns about preventing video data from theft and hackers will restrict product adoption. Organizations are forbidden from storing video footage due to the increasing risk of data breaches and the misuse of video data stored in public cloud camera recorders. Cybercriminals use Distributed Denial of Service (DDoS) malware against specific systems, making networked video surveillance systems more susceptible to cyberattacks.
• Storage and bandwidth issues- CCTV and security cameras are required to have high storage especially when there is more than one camera. Cameras usually work 24*7, attributed to this the required storage is comparatively higher. Furthermore, high storage and strong bandwidth may raise this device's price, which is one of the essential components of video cameras that are required for a strong infrastructure.