Hard earned money needs to be protected. It is for this reason that alarm systems companies have been in the constant upgrade of security systems to better cater the public. ADT Alarm Systems has more than 140 years of experience when it comes to building secured systems for their clients. ADT Alarm Systems has consistently delivered excellent and valued services to their customers year after year.
One of the security markets that have been a lucrative investment for many investors is the CCTV market. In India, the said market is projected to grow. This is according to the report published by RNCOS. IN the North America, it is expected to reach a 7.5 percent CAGR from 2014 to 2020 and a global CGAR of 12.2 percent for the same period.
The staggering numbers
According to the experts at RNCOS, the market for CCTV across North America is expected to rise from approximately $3 billion in 2014 to as much as $5.3 billion by the year 2020. However, the researchers pointed out that although the market in North America will grow by the years, its overall share in the CCTV market will decline. The experts continued that the market share of North America in 2014 was about 22.5 percent. However, this number will drop significantly by 2020 to 17 percent only.
The growth in Asian Markets
People in the industry are still looking forward to the growth in the North America, however, they pointed out that the real strong growth in the CCTV market is happening in Asia. The countries that will lead in this projected growth are China, Thailand and India.
Accordingly, the market globally for CCTV was valued to be at $16.6 billion last year. This amount will grow to $37.2 billion five years from now. Experts are confident that the market will double in the next five years.
Three main divisions
The CCTV market is divided to three main technologies namely the analog, Wi-Fi based systems and the IP-based systems. The most prevalent of the three technologies was the analog, followed by the IP-based systems and Wi-Fi trailed behind. However, this order will soon change.