International. The global market for professional video surveillance equipment grew by 9.3 percent in 2017. This is a much higher growth rate than in 2016 (3.9 percent) and 2015 (1.9 percent).
According to Jon Cropley, senior principal analyst for video surveillance at IHS Markit, increased public spending on equipment to combat crime and terrorism was a major factor in this growth, as was private sector spending on replacing equipment in commercial and retail facilities.
Growing demand for security cameras is expected in 2018, but a slightly lower level of price erosion is also forecast. The combination of these factors will generate a 10.2 percent growth in the video surveillance equipment market, which will reach US$18.5 billion in 2018.
Global demand for security cameras grew rapidly in 2017, but average prices continued to fall. However, incomes grew in most countries.
Two of the fastest growing country markets were Brazil and India. A major factor behind the growth in both countries was increased spending by the private retail sector and commercial organizations on HD CCTV systems used to prevent crime.
Accounting for 44 percent of all global revenue, the Chinese market for professional video surveillance equipment grew by 14.7 percent, while the global market, excluding China, grew by only 5.5 percent. One of the main reasons for the increased growth in China was the xue Liang government program, which boosted investment in city surveillance projects and extended the city's surveillance systems to the surrounding rural areas.
In addition to the above, other key findings of the report include:
Although still very fragmented compared to many other markets, the supply base of professional video surveillance equipment is gradually becoming more concentrated. The top 15 suppliers accounted for 62 percent of global revenue in 2017.
62 percent of all security cameras sent in 2017 were network cameras.
Deep learning-enabled recorders and servers, a new category this year, are an important element in powering what many expect to be the next generation of video analytics using artificial intelligence. They accounted for only 1 percent of global market revenue in 2017.
Video Surveillance Intelligence Service
IHS Markit has just added new global and regional market statistics, forecasts and market share estimates to its Video Intelligence Surveillance Service. Offering broad coverage of the video surveillance equipment market, it provides detailed data and analysis, including regional and global market forecasts and market share estimates, market reports, reports, periodic analyst analysis, and access to analysts.
To access this full report enter HERE
https://technology.ihs.com/498855/video-surveillance-intelligence-database
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