Video Doorbell Sales Forecast to Grow 28% Annually, IHS Markit Says
Increasing use of video doorbells could result in wider acceptance and adoption of video verification in home security systems.
Increasing use of video doorbells could result in wider acceptance and adoption of video verification in home security systems.
Many industry players at CES 2017 preached enriching the consumer experience through seamless integrations, say an IHS Market analyst.
Research firm IHS Markit has released its expectations for the smart home marketplace in the coming year.
IHS Markit estimates the world market for branded video surveillance as a service was worth $790 billion in 2015, a 13.8% increase from 2014.
The combined security equipment and services market was estimated to exceed $123 billion in 2015.
While annual video surveillance camera unit shipments are forecast to continue to increase through to the end of the decade, some regional markets are becoming saturated.
The numerous, closed ecosystems and devices in the smart home industry is also inhibiting growth.
Instead, it’s believed that manufacturers seizing market share from competing vendors is fueling the increased supply concentration.
Last year, video surveillance equipment revenues barely made it into the black, following a strong 2014.
The key end-user sectors leading growth over the next five years include payment and banking, e-government and healthcare and transportation.
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