2012-11-08 18:19:17 - Global video surveillance market to be boosted by strong demand from the BRIC nations
The global video surveillance market has been forecast to increase at a compound annual growth rate (CAGR) of 14.33% over the five year period through 2015, to reach an eventual market value of $25.43 billion.Key factors contributing to growth within the video surveillance market include the increase in security concerns, along with the increase in demand for high-quality images. However, the video surveillance market, for all its clear benefits, comes with its equal share of barriers: storage limitations, image quality and resolution demands, price concerns, a painfully absent ease-of-use.Over the last few years, there has been a steady demand for high megapixel cameras. As a result, vendors in the global video surveillance market have been increasing their product range of
high-definition (HD) cameras.Vendors such as Arecont Vision and Avigilon have cameras with more than 20 mega pixels in their product portfolio. In addition, the vast majority of vendors in the market have started offering HD resolution cameras with wide dynamic range and low light capabilities.While the looming Eurozone debt crisis will make Western Europe the biggest "drag factor" on market growth, strong demand from the BRIC (Brazil, Russia, India and China) countries is expected to bolster the industry.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. By 2016 this is projected to increase to more than 40% of global spend.The video surveillance market is expecting growth in the coming years; especially due to increased instances of crimes as also the transition of video surveillance system to IP. Government, retail, banking, education and transportation are the major sectors where video surveillance systems are deployed for security.Key players dominating the global video surveillance market include Axis Communications AB, Bosch Security Systems Inc., Hikvision Digital Technology Co. Ltd., and Panasonic System Networks Co.For more information on the global video surveillance market, see the latest research: Global Video Surveillance MarketFollow us on Twitter @CandMResearch
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