The World Market for CCTV and Video Surveillance Equipment report from IMS Research says the growth will be driven by strong demand 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, says the report. 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.
Rapidly increasing demand for network video surveillance equipment in the BRIC countries is forecast to lead to network video sales overtaking analogue CCTV sales. IMS Research forecasts that the world market for video surveillance equipment will tip in favour of network video in 2013.
“Western Europe is projected to be the largest drag factor impacting global market growth in 2012,” said senior analyst and report author, Gary Wong.
“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.”
