Report: Video Surveillance Market to Grow 9% in 2010
WELLINGBOROUGH, United Kingdom
The world market for video surveillance equipment is on pace to recover quickly from recessionary pressures this year and will grow by more than 9 percent compared to 2009, according to a new report by IMS Research.
Titled “The World Market for CCTV and Video Surveillance Equipment-2010 Edition,” the report finds the impact of the economic downturn has been more profound in the analog video surveillance equipment market than it has for IP-based equipment.
End user verticals that are analog-centric were among the most heavily affected by the downturn. The accelerated adoption of network video surveillance solutions further impacted the sales of analog video surveillance equipment in 2009, according to the report.
“The global analog video surveillance market is forecast to have contracted by more than 5 percent in 2009, whilst the network video surveillance market grew by more than 18 percent,” says Gary Wong, an IMS Research analyst who authored the report.
The introduction of high definition (HD) network cameras and the increasing adoption of open standards, such as ONVIF and PSIA, are expected to further accelerate the migration toward network video surveillance.
With the exception of China, the market for analog video surveillance equipment is expected to recover more slowly and to remain challenging for vendors. This is particularly true as the enterprise market segment continues to transition quickly toward network video surveillance solutions and the low-end market becomes increasingly price competitive.
Research shows that analog video surveillance equipment still represents the majority of annual unit shipments and demand shows no signs of fading in the foreseeable future; however, the market for analog video surveillance products is expected to become increasingly commoditized, according to the report.
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