Key Note Media Centre
CCTV market in the UK has great potential for further growth...
Since the second half of 2008, the closed-circuit television (CCTV) market has been affected simultaneously by the crisis in the banking and finance sector, the economic recession and the demise of many retailers. Additionally, there was a 1.1% fall in output of all construction work in 2008 and a further drop of 11.5% in 2009, as the construction sector felt the full force of the economic difficulties. However, according to Closed-Circuit Television, a new Market Report from market intelligence provider Key Note, the UK remains a strong market for CCTV, with great potential for further growth if and when the economy stabilises.
As well as constraining the development of new commercial and industrial construction (from which the CCTV market gains a considerable amount of business), the recession has also cut a lot of opportunities for CCTV. Businesses have not been able to procure the funding to install systems, or are uncertain about their future; therefore, they are tentative about investing revenue into a luxury, when their business may not be operational for much longer.
While many customers have upgraded their CCTV systems over the years, from the first analogue devices to the newer digital systems, other customers have chosen to avoid the upgrade. Products that enable analogue cameras to be retained in systems have become increasingly in demand. As and when the economy begins to stabilise, there is potential for growth through upgrades to better technological systems, such as Internet Protocol (IP).
Threats of terrorism, crime and anti-social behaviour are key drivers in the market for CCTV, with surveillance becoming essential in public places. Key Note observes that the number of security surveillance systems in place is likely to increase over the next 2 years in preparation for the 2012 London Olympics. It is planned for all of London's CCTV cameras to be integrated using a new form of software, allowing operators to follow anyone through London using all the cameras installed in the city. Currently, the plans include the installation of 900 daylight and night-vision surveillance cameras spaced at 50-metre (m) intervals, as well as integrating the existing cameras. Human rights group, Liberty, is continuing to protest against the proposal.
As the economy continues to recover, a small growth of 3.9% is forecast within the UK CCTV market in 2011, to reach £425m. Key Note expects the market to demonstrate the most positive growth in 2012 and 2013, assuming that the majority of consumers and businesses have recovered from the recession and are in a better financial position to upgrade and install surveillance systems. Furthermore, the Construction Skills Network (CSN) predicts that, from 2011, a slow return to growth will be seen in the UK construction industry.
Press enquiries: Lisa Ivey at Key Note at email@example.com or 0845-504 0452. Press/review copies of the report are available on request.
Notes to editors:
Key Note's 2010 Market Report, Closed-Circuit Television, examines the UK market for closed-circuit television (CCTV). CCTV is television surveillance for access by an authorised user group. The CCTV market consists mainly of security applications, which has led it to be considered part of the electronic security market. Key Note's market size estimates in the report are at end-user prices, and include the cost of the component equipment, the professional design and installation of the system and subsequent maintenance.
Key Note Ltd has been providing commercially relevant market information to libraries, academia and businesses for almost 30 years. With over 1,000 titles available across 30 market sectors, and new or updated titles published every week, Key Note is one of the UK's most prolific and respected business information providers. Within the range, some reports are written in response to particular market conditions, whereas other reports will be produced regularly year on year.