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IMS Research's latest report, "The World Market for CCTV and Video Surveillance Equipment - 2010 Edition" forecasts that the world market for video surveillance equipment will recover quickly in 2010, growing by over 9 percent compared to 2009.
"Whilst the economic downturn did impact the global video surveillance equipment market in 2009, fiscal stimuli from governments and the inherent demand for video surveillance equipment mitigated the magnitude of the impact," said report author and IMS Research analyst Gary Wong.
According to the report, the impact of the downturn was more profound in the analogue video surveillance equipment market than in the network video surveillance market; end-user verticals that are analogue-centric were among the most heavily affected by the downturn. The accelerated adoption of network video surveillance solutions further impacted the sales of analogue video surveillance equipment in 2009.
Wong added, "the global analogue video surveillance market is forecast to have contracted by more than 5 percent in 2009, whilst the network video surveillance market grew by more than 18 percent." A short and sharp recovery for the total market for video surveillance equipment is forecast for 2010, bolstered by strong network video surveillance growth. The introduction of high definition (HD) network cameras and the increasing adoption of open standards (e.g. ONVIF/PSIA) are expected to further accelerate the migration towards network video surveillance.
