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According to Closed-Circuit Television, a new Market Report Update from market intelligence provider Key Note, the UK closed-circuit television (CCTV) market is estimated to reach £418m in 2011, after declining by 28.2% between 2007 and 2011.
With almost all sectors throughout the construction industry suffering a loss of output during the UK's recession, opportunities for the installation and improvement of CCTV systems have decreased in recent years. The majority of CCTV output is derived from the construction of new buildings, or from companies and organisations renovating existing sites. The economic downturn had a significant impact on construction investment, particularly in the commercial and industrial sectors and, as such, demand for CCTV systems has reduced. The recession also caused a large number of secure businesses to become increasingly cautious in terms of their expenditure, with many deciding against luxuries and unnecessary purchases, such as upgraded CCTV systems.
However, there is huge potential within the CCTV market. Surveillance is an important tool against the threat of terrorism, as CCTV systems can monitor and aid in the conviction of suspected terrorist suspects. Organisations and businesses must also face the continued threat of criminal activity and anti-social behaviour, and CCTV systems can act as both a deterrent and a means by which to prosecute. The value of CCTV was lauded this year in the aftermath of the London riots in August 2011. After four days of anti-social behaviour, rioting and looting, the police were able to release numerous CCTV images of offenders, aiding in the conviction of a huge number of rioters. Such factors have helped to drive the CCTV market, as has the huge operation of policing the 2012 London Olympics and, as a result, the CCTV market is expected to grow significantly over the next few years.
Key Note estimates that the UK market for the design, supply, installation and maintenance of CCTV systems is expected to increase by 30.1% between 2012 and 2015, with annual rises estimated from 2012. Significant growth is not expected until 2013, buoyed by the recovery of the construction market, after which growth will continue to increase year-on-year.
Press enquiries: Jack Sykes at Key Note at email@example.com or 0845 504 0452. Press/review copies of the report are available on request.