Despite the impact of the economic downturn, IMS Research’s (www.imsresearch.com) latest report, “The World Market for CCTV and Video Surveillance Equipment - 2009 Edition,” forecasts that the world market for video surveillance equipment will grow by 3% in 2009.
“Clearly the economic downturn has disrupted historical growth trends within the global video surveillance market,” says IMS Research analyst Gary Wong. “In the last IMS Research market update released in February, global video surveillance equipment revenues were expected to grow by 6% in 2009. A more sustained and deeper recession has led us to cut the forecast to 3%.”
More mature markets in
Furthermore, investment in verticals such as education and transportation is still strong in 2009 - 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
The economies of Asian countries (excluding
Lower sales and new technologies are also re-shaping the competitive arena. Dominant players are finding their market share eroded by emerging players who can offer innovative technologies, better product support, or the same products at lower prices. IMS Research forecasts significant variation in the market ecosystem over the next 18 months – vendors, distributors, installers, integrators and end-users should prepare themselves for change.