Global market for CCTV equipment to grow 12% in 2012, says report
YARMOUTH, Maine—The world market for video surveillance equipment is expected to grow in excess of 12 percent in 2012, despite a shaky European economy, according to a new report from IMS Research, recently acquired by IHS Inc.
Though the Eurozone debt crisis will have a dampening effect on the growth of the video surveillance market in Europe, other regions of the world are picking up the slack, according to IMS's World Market for CCTV and Video Surveillance Equipment report. “Western Europe is projected to be the largest drag factor impacting global market growth in 2012," Gary Wong, IMS's senior analyst and the report's author, said in a statement.
However, strong demand from Brazil, Russia, India and China will drive the global market this year, Wong said. Infrastructure development in advance of major sporting events in Brazil and a heavy focus on city surveillance in China, India and Russia are key drivers for the growth in these countries.
Currently, Wong estimates those four countries represent approximately 30 percent of the global video surveillance market. This is projected to increase to more than 40 percent of the market by 2016.
When it comes to analog versus network cameras, the IMS report forecasts that the world market will tip in favor of network video in 2013, accelerated by increasing adoption of network cameras in Brazil, Russia, India and China.