WELLINGBOROUGH, U.K.—The world market for video surveillance equipment is expected to grow by 3 percent in 2009 despite the economic turndown, according to a report from IMS research. However, the sluggish economy did impact global video surveillance equipment revenues and cut IMS’ February growth projections in half.
While the Americas video surveillance equipment market is growing at a slower rate than previous years, it is still fairing better than Western Europe markets, which are expected to reach a 7-percent decline.
The American market is forecasted to remain comparatively strong in 2009 with the help of government investment and the emerging trickle-down from stimulus package funding enacted in February, according to the report. Investment in vertical markets such as education and transportation has remained strong this year.
The transition from analog video surveillance to higher value network video surveillance in the Americas is also driving growth. The Americas IP-based video surveillance market is forecast to grow at more than four times the rate of the network video surveillance market in Europe, the Middle East and Africa (EMEA) in 2009.
IMS Research also predicts significant variation in the marketplace over the next 18 months that is expected to affect vendors, distributors, installers, integrators and end users. While shaky in 2009, the global video surveillance market will begin to recover in the later stages of 2010. Improving economies, the transition to IP and emerging markets are all vital ingredients to the recovery, according to the report.