Despite the impact of the economic downturn, the world market for video surveillance equipment will grow by 3 percent in 2009, said an IMS Research Report.
“The World Market for CCTV and Video Surveillance Equipment - 2009 Edition” also forecasts that more mature markets in Western Europe are forecast to be most affected by the economic downturn in 2009; with video surveillance equipment revenues expected to decline by nearly 7 percent. The large decrease in growth in countries such as the UK and Spain reflects the dire state of their respective economies.
The Americas video surveillance equipment market is forecast to grow in 2009, albeit at a lower rate than in previous years, the report said. Despite being the nucleus of the economic downturn, the demand for video surveillance equipment in the Americas is expected to remain comparatively strong in 2009, buoyed by government investment and the emerging trickle-down from financial stimuli. Furthermore, investment in verticals such as education and transportation is still strong in 2009, said the report, and installation of video surveillance is perceived to be a necessary expenditure in these markets. Likewise, the transition from analogue video surveillance to higher value network video surveillance in the Americas is driving growth in 2009.
The Americas network video surveillance market is forecast to grow at over four times the rate of the network video surveillance market in EMEA in 2009. The economies of Asian countries (excluding Japan and Singapore) have generally been less affected by the economic downturn, said the report, and, as a result of this, investment in video surveillance equipment has remained strong.
IMS Research forecasts that Asia will be the fastest growing regional market for video surveillance globally, primarily driven by the sustained demand for video surveillance in China. If Japan is excluded from the Asian market, revenue growth in the region will likely exceed 13 percent in 2009.
Overall, said IMS, global video surveillance market will begin to recover in the later stages of 2010.