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Global CCTV market 'to expand amid security concerns'

27 June 2011

Growing concerns about security around the world will push up sales of CCTV equipment, it has been predicted.

According to the study by analyst RNCOS, the market has witnessed strong levels of growth during recent years and is expected to continue expanding.

It is forecast to climb at a compound annual growth rate of 21 per cent between 2011 and 2013 to $19 billion a year (£11.92 billion).

The organization suggested that "rising concerns for security and safety across the globe" will drive up revenues, with demand growing for more technically-advanced cameras.

In the report, entitled 'Global CCTV Market Analysis (2008-2012)', RNCOS explained there are significant opportunities for innovation in the field.

By 2013, the study predicted Asia will hold a 34 per cent share of the global market, as economic growth in nations such as China and India drives take-up.

CCTV recently captured images of a driver in the UK who ran over six-year-old Owen Wightman and failed to stop at the scene in Wakefield, West Yorkshire.

Read more about security standards here