Forecast: Transportation Sector Seen as Leading Driver for Video Surveillance Equipment
A research report projects the transportation segment will account for nearly 36% of the global CCTV market by 2019.
The global transportation market is a prime growth driver for video surveillance equipment.
DALLAS – The transportation market will account for approximately 35.5% of the overall global video surveillance market share by 2019, leaving the rest of the market to the financial, retail, education, industrial, government and other sectors, according to a research report.
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Titled, “Video Surveillance Market – Global Trends, Estimates and Forecasts, 2013-2019,” the report, distributed by RnR Market Research, projects the video surveillance physical components market to be worth $21.4 billion by 2016, growing at a compound annual growth rate (CAGR) of 23.57% for the analysis period, 2013-2019.
The video surveillance technology market in the Americas region accounts for the highest percentage at about 39.6% (2016) of global share, while Europe follows next with almost 26% (2019) of the market. Asia-Pacific is the fastest growing region with a CAGR of 33.78%, driving a market value of $3.6 billion by 2019, according to the report.
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