Key Note estimates that the UK market for closed-circuit television (CCTV) was worth £526m at end-user prices in 2003 and forecasts that 8% growth in 2004 will increase its value to £568m. These figures include the design, supply, installation and maintenance of equipment and systems, but exclude monitoring costs.
Security and safety applications account for a major share of the market, but it also includes other applications, such as traffic control and monitoring of industrial plant. The security applications include surveillance systems, point-of-sale (PoS) monitoring systems, alarm verification, biometric identification for access control and automated number-plate recognition.
The UK market is relatively mature compared with its counterparts in other countries, although there is still scope for new installations. Market growth is being driven mainly by replacement systems, extensions and upgrades. In particular, 2004 has seen strong demand for digital recording equipment to replace analogue video cassette recorders (VCRs). Advances in camera technology are also presenting opportunities for upgrading systems.
Prices of entry-level equipment continue to fall and this end of the market is dominated by products from Far Eastern countries with low manufacturing costs. The more technologically advanced equipment offers better margins and it is in this sector that UK manufacturers tend to compete, both in the UK and in export markets.
The use of networked CCTV has been increasing since 2001. The network technology showing the strongest growth in 2003 was Internet Protocol (IP)-enabled equipment. Use of IP networks facilitates the integration of CCTV with other security systems and the remote monitoring of CCTV systems.
The 5 years to 2008 are forecast to see continued growth in the use of IP networks for CCTV. The current level of orders for new building construction is fairly high, so there will be opportunities, at least in the short term, for new CCTV systems. In addition, there remains considerable potential for replacement, upgrading and systems integration. Key Note expects value growth in the CCTV market to tail off before 2008, owing to market maturity, falling prices and more economical methods of installation. However, growth is expected to remain positive throughout the forecast period of 2004 to 2008.
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