AUSTIN, Texas — As analysts forecast a deeper economic downturn, IMS Research predicts that demand for video surveillance equipment will remain strong in 2012. Additionally, the group predicts that network video equipment sales will exceed 25 percent.
The research firm discussed how the video surveillance market continued to grow despite a turbulent economy in the report "The World Market for CCTV and Video Surveillance Equipment — 2011 Edition." The study noted that the video surveillance equipment market increased more than 10 percent in 2010, despite the downturn. The network video surveillance market also increased more than 30 percent in 2010, according to IMS Research Senior Analyst Gary Wong.
There are two main reasons why the video surveillance market continued to grow while other industries suffered during the first downturn, according to the research firm. First, fear of terrorism and crime caused the government market to increase spending on video surveillance equipment, allowing sales to rise in 2010 and 2011.
Secondly, although the downturn affected all countries, not all countries suffered the same impact. As a result, users continued to transition from analog to IP-based systems, which bolstered video surveillance sales throughout 2011. For example, Axis Communications' net sales increased by 37 percent between January and September. Meanwhile, Mobotix closed its 2010/2011 financial year (July 2010 to June 2011) with 36 percent sales growth compared to the previous year.
The research firm expects the global surveillance market to continue to grow through 2012, especially in the BRIC (Brazil, Russia, India and China) markets. Those countries remain relatively unaffected by economic turbulence, according to IMS Research. In fact, the research firm forecasts network video surveillance sales in the BRIC market to increase more than 30 percent in 2012.
Video surveillance sales will continue to show steady growth due to the underlying factors guiding people to buy the products. Additionally, sales of network video surveillance equipment will shape the growth of the total market, according to the research firm.
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