security technology market CCTV camera market shows robust growth Albany, NY (USA) A new report prepared by Transparency Market Research and marketed by MRRSE, describes the current conditions and projections for the CCTV camera market, in terms of global industry analysis, size, share, growth, trends, and forecast to 2025. Transparency researchers predict that the global CCTV camera market is expected to expand at a robust 12.7% CAGR over the forecast period to reach a global value of US$23.32 billion by 2025. The analysts observe that the global CCTV camera market is seeing consolidation on account of players banking upon mergers and acquisitions to bolster their positions. They also note that competition in the market is tough due to the numerous hardware and software providers involved. Most of the prominent players in the market are concentrating on unveiling upgraded and sophisticated systems and solutions in the CCTV camera market in order to up sales. The mushrooming modern retail outlets and a booming hospitality industry are serving to provide a major impetus to the global CCTV camera market. Besides, continued progress in technology on account of players expending money on product development is also having a positive impact on the market. As per Transparency Market Research, the global CCTV camera market is expected to expand at a robust 12.7% CAGR during the period between 2017 and 2025 to become worth US$23.32 billion by 2025. The global CCTV camera market can be segmented depending upon the type of model, into PTZ camera, box camera, dome camera, bullet camera, etc. Of them, the segment of dome camera leads the market and in 2016 its leading share came to about 45%. The segment is expected to grow at a healthy clip in the years ahead as well on account of further investments in it and on the back of technological progress. In terms of the type of technology used, analogue CCTV camera systems accounted for maximum market share in 2016, and from a geographical standpoint, the global CCTV camera market is dominated by North America and Asia Pacific. Currently, Asia Pacific market is being powered by China which manufactures cheaper varieties of the product that are seeing widespread uptake. India is another key market in the region vis-à-vis demand. As per the TMR report, the market in Asia Pacific will likely outpace all other regions in terms of growth rate by registering a CAGR of 14.6% from 2017 to 2025 to become worth US$9.554 billion by 2025. North America is another prominent market which has been seeing soaring sales of CCTV cameras owing to a major thrust in public security. Terrorist attacks in the past and other security issues threatening to undermine the peaceful lives of people has resulted in enormous adoption of CCTV cameras for surveillance. Other factors serving to boost the market in the region is the investments into research and development of better products with more sophisticated technologies. Regulatory policies too have supported the sales of CCTV cameras in the region, particularly in the U.S. The market in North America is projected to clock a 10.2% CAGR in the forecast period. The European market has seen high growth, but expectations are lower for the MEA and South American markets. Global facial recognition market to show strong growth to 2022 Houston, Tx (USA) The Global Facial Recognition market is projected to reach $8.74 billion by 2022 growing at a CAGR of 17.83% during the forecast period according to a report from Research n Reports. The growing surveillance market is a key factor fuelling the growth of this market. However, interoperability is inhibiting the growth of global facial recognition market and identifying differences among like faces or appearances poses a key challenge for the market. Facial recognition is a biometric technology used for authentication and identification of individuals by comparing the facial features from an image with a stored facial database. It is expected to witness robust growth during the forecast period owing to its increasing usage in both law enforcement and non-law enforcement applications. Moreover, facial recognition is widely preferred over other biometric technologies, such as voice recognition, skin texture recognition, iris recognition, and fingerprint scanning, due to its non-contact process and easy deployment (using cameras and existing monitoring devices). Currently, this technology is majorly used for security and marketing purpose. For instance, billboards have been designed with integrated software that are used to identify gender, age, and ethnicity to deliver targeted advertising. Facial recognition is primarily used for security purposes, such as homeland security, criminal investigation, ID management, and physical security. However, in recent years, this technology is also being increasingly used for targeted advertising and marketing purposes, particularly in the retail sector. According to the facial recognition market report, one driver in the market is increasing instances of identity threats. The increasing dependence of end-users on websites and web applications is giving rise to an increasing number of identity and data theft cases. The growing popularity of online gaming and social network websites is also adding to the rising number of identity theft cases. In addition, the increasing complexity of these attacks is driving end-users to implement secure authentication solutions. Thus, there is increased adoption of biometric security solutions. Due to growing technological advancements, when compared to the 2D facial recognition technology, 3D facial recognition technology is expected to witness much faster adoption in the near future. The government and law enforcement agencies mainly utilise facial recognition systems for security issues. Additionally, facial recognition systems are being gradually used in the BFSI sector to guarantee security and reduce crimes due to the increase in fraud in this sector. Furthermore, to figure out the age, sex, and facial expressions of the customers facial analytics systems are being used in the retail industry for marketing purposes. Some of the key players cited in the report as being in the Global Facial Recognition market are NEC Corporation, Cross Match Technologies Inc., Animetrics, Inc., Cognitec Systems, Safran Group (Morpho S.A.), Aware Inc., Ayonix, Inc., 3M Cogent Inc., Facefirst Inc., ZK Software, DAON, Inc., Gemalto, RCG Holdings Ltd., Iris Id Systems Inc. and Avalon Biometrics. Security News Every Day – www. securityworldmarket.com 10 • d etektor internati onal