Over the years, electronic security market in Russia has evolved tremendously owing to increasing terrorist strikes, crime rates and government security spending. In Russia’s electronic security market, CCTV security systems have pegged key share of the market pie. Further, with upcoming FIFA World Cup, huge investments are expected to be witnessed for the expansion and construction of new public and private infrastructures, which would drive the need for the installation of CCTV systems at various locations. Additionally, increasing competition has led to the declining selling price of the CCTV cameras, thus catalyzing new deployments in the country.
According to 6Wresearch, Russia CCTV market is projected to grow at a CAGR of 18.4% during 2015-21. In Russia’s CCTV market, IP based CCTV systems have prominently fuelled the growth of the overall market. Growing awareness and increasing demand for higher security cameras in Russia have become the key driving factors for the growth of market. Increasing number of domestic manufacturers in the country is also expected to boost the CCTV systems market.
Government and transportation vertical leads the market for CCTV in Russia. Growing government expenditure, rising IT infrastructure and increasing IT spending have led to growth in the IP based CCTV market. Also, IP based surveillance systems are expected to surge due to rising demand for video analytics and remote monitoring.
Amongst all regions, central federal district region has generated key share of the market revenue as the region has one of the host cities for the FIFA World Cup. Apart from this, central federal district is witnessing high infrastructure developments and also the region faces the maximum number of terrorist attacks leading to growth in installations of CCTV systems. Moscow is the key city, which is contributing to the growth of the overall market.
In Russia’s CCTV market, international players have controlled significant share of the market; however, with government initiatives and domestic manufacturing, demand for CCTV systems of domestic players is expected to surge in the forecast period.
“Russia CCTV Market (2015–2021)” provides in-depth analysis with 72 figures and 23 tables. The report estimates and forecast overall Russia CCTV market by revenue, by CCTV system types such as Analog based, IP based, and software systems. CCTV market by regions such as Central federal district, North Western federal district, Ural federal district, Siberia federal district, Far East federal district, Volga federal district and Southern federal district. The report also gives the insights on competitive landscape, market share by companies, price trends, company profiles, market drivers and restraints.
Original Source : http://www.6wresearch.com/press-releases/russia-cctv-market-2015-2021-share-shipments-trends-news-forecasts.html