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