CCTV surveillance market to grow 12.4%

The global CCTV market is anticipated to grow at a CAGR of 12.4% for the period spanning from 2005 to 2008. However, the global demand for conventional CCTV systems is showing downward trend with the escalating demand for IP-based CCTV surveillance. At country level, Japan remains the largest player in CCTV market and it is among the largest markets for biometric application in ATM. The RFID industry is expected to represent a CAGR of over 19% for the period from 2007 to 2016. The driving factors include various initiatives that worldwide countries are assuming in order to get benefits from RFID technology.