IMS Research has just published the ninth edition of its World Market for CCTV and Video Surveillance Equipment report. The 2012 edition forecasts that despite the weak and uncertain economic climate, the world market for video surveillance equipment will grow in excess of 12% in 2012.
Senior analyst and report author, Gary Wong, states; “Western Europe is projected to be the largest drag factor impacting global market growth in 2012. The Eurozone debt crisis is expected to depress growth in Western Europe as austerity measures continue to be implemented and a lack of end-user confidence limits video surveillance equipment spend. Spain, Italy and Greece are forecast to be the three slowest growing European markets for video surveillance equipment in 2012.”
Despite the dampening effect of the Eurozone debt crisis, strong growth is forecast for the global video surveillance equipment market in 2012. Wong states, “The global market will be driven by strong demand for video surveillance equipment in the BRIC (Brazil, Russia, India and China) countries.”
Infrastructure development in advance of major sporting events in Brazil and a heavy focus on city surveillance in China, India and Russia will be key drivers for growth in these countries. Currently the BRIC market is estimated to represent approximately 30% of global video surveillance spend. This is projected to increase to more than 40% of global spend in 2016. Whilst only low single digit growth is forecast for some of the more established markets for video surveillance equipment, the aggregate BRIC market is forecast to grow in excess of 20% in 2012 (year-on-year)”.
Rapidly increasing traction for network video surveillance equipment in the BRIC countries is forecast to lead to an acceleration to the tipping point, when network video sales will overtake analogue CCTV sales. IMS Research forecasts that the world market for video surveillance equipment will tip in favour of network video in 2013.
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