Video Surveillance Market Continues to ExpandBy: Sean Patterson - January 20, 2014
With the numerous disclosures from former NSA employee Edward Snowden that were released in 2013, a new light has been shined on a shadowy world of information gathering and government surveillance. While world governments scramble to appease their citizens and other government leaders, it seems that the security industry will simply keep running business as usual.
Market research firm IHS today released a report showing that the video surveillance market is expected to increase by at least 12% in the coming year. The firm expects sales of video surveillance equipment to hit $15.9 billion, mostly on sales to national and local governments.
“During the past decade the video surveillance equipment market has grown quickly, expanding at a double-digit rate in most years,” said Niall Jenkins, research manager for video surveillance and security services at IHS. “This year will be no exception, with growth led by strong demand for fixed-dome and 180/360-degree network camera products. As for vertical markets, the city surveillance and utility/energy sectors will drive the biggest increases in sales.”
Other predictions for the video surveillance market found in the IHS report read like a list of the things government-overreach activists have been warning about for years. Police are expected to increasingly use crowd-sourced video surveillance data and companies are expected to collaborate more with police on the sharing of their own live video surveillance. IHS also believes that thermal imaging will catch on during 2014, with consumer thermal imaging products beginning to appear.