The world market for professional video surveillance equipment grew by 1.9% in revenues in 2015.This is according to recently published estimates from IHS, through its Video Surveillance Intelligence Service. This is a much lower rate of growth than in 2014 (14.2%) and 2013 (6.8%).
Lower growth of 4.9% in the Chinese market played a big role; the Chinese market grew by 26.7% in 2014. The slowdown of the market in China in 2015 was largely because of price erosion. Unit shipments of security cameras in China grew quickly, but the average prices of cameras and recorders fell sharply. The Chinese branded supply base became more consolidated, with the two largest estimated suppliers (Hikvision and Dahua) accounting for 47.2% of the market in 2015 compared with 42.8% in 2014.
Slightly higher revenue growth in both the global market and the Chinese market is forecast for 2016, at rates of 6.4% and 11.6% respectively. Product demand will continue to grow quickly and price erosion, though high, is forecast to ease somewhat. This will mean that the world market for video surveillance equipment will be worth $15.8 billion in 2016.
IHS has just added new global and regional market statistics, forecasts and market share estimates to its Video Surveillance Intelligence Service. In addition to the above, other key findings include:
• The supply base for professional video surveillance equipment is gradually becoming more consolidated (although it remains highly fragmented compared with the supply base in many other markets). The top fifteen vendors accounted for 55% of revenues in 2015.
• A number of Chinese vendors continued to rapidly gain market share in regions outside China in 2015. They tend to offer products with low prices and this has been a major factor in the erosion of average prices in those regions.
• China is estimated to have been the largest regional market for video surveillance equipment, accounting for over 40% of global revenues in 2015.
• Network cameras accounted for 53% of all security cameras shipped in 2015.
• Less than 1% of network cameras shipped were 4K compliant.
• There has been a rapid transition from standard-definition analogue cameras to HD CCTV cameras (most notably HD-CVI, TVI and AHD).
• In 2016, for the first time, there will be more HD CCTV cameras shipped globally than standard definition analogue cameras.
• Only 24% of HD CCTV cameras sold in 2015 were sold in China.
For more information contact Jon Cropley, IHS Technology, +44 1933 408 075, email@example.com
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