25 Jul 2007
Asia-Pacific offers Huge Potential for the US$ 5.7 Billion CCTV
The global CCTV/video surveillance equipment market is likely to grow at a compounded annual rate of approximately 10%.
Increased government spending for security reasons, migration of vendors from analog security systems to digital video surveillance systems, growing prosperity in societies and installation of security systems by several organizations due to increasing concern for safety of the clients as well as the employees are the major factors driving the in video surveillance market. The global CCTV/video surveillance equipment market is likely to grow at a compounded annual rate of approximately 10%.
San Jose, CA (PRWEB) July 24, 2007 -- Security and safety are the key concerns for all the building owners, including residential and commercial, managers and brokers. Security systems industry is witnessing a steady growth, in a way that, commercial and residential buildings are significantly being upgraded and integrated with highly advanced security systems such as access control systems (retinal scan and fingerprint identification) digital cameras and digital recording security devices, thereby improving security and also simplifying the usage and improving the productivity of security team. CCTV cameras market represents the largest segment of the US$ 5.7 billion global CCTV/video surveillance equipment market, as stated in a recent report published by Global Industry Analysts, Inc. Global CCTV recorders market is expected to reach US$ 1.6 billion by 2010. Asia-Pacific is emerging as a strong market for video surveillance equipment both in terms of usage and production. CTV/video surveillance equipment market in Asia-Pacific is forecast to be US$1.3 billion by 2010.