IP Video Market Forecast to Take Big Hit in 2009
TORRANCE, Calif.
A new report released by market analyst IP Video Market Info estimates a significant drop in the IP video market in 2009, due largely to continuing economic troubles.
The report analyzes and assesses the impact of the current economic events and projects major reductions in growth across all segments as credit crisis and drops in consumer spending impact the market. Video analytics is expected to be hit hardest as buyers reduce capital expenditures and exposure to risky new projects.
Contrary to earlier reports that project more than 40 percent market expansion, IP Video Market Info forecasts the growth rate will shrink by 66 percent when compared to 2008 numbers.
Sales of megapixel cameras are expected to increase 30 percent in 2009, while IP cameras and video management software growth will reach only 15 percent. Video analytics is forecast to slide 10 percent in 2009.
“The ongoing financial crisis and accelerating downturn have fundamentally changed the IP video marketplace. Our industry’s old projections are no longer relevant,” says John Honovich, founder of IP Video Market Info. “The industry must understand and adapt to these changes.”
To view the full report, click here.
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