Gary Wong, IMS Research analyst and special subject author, said, “Undoubtedly, the video surveillance industry was affected by the economic downturn during 2009, but IP video surveillance equipment continues to show strong growth momentum.â€
Wong said, "Global analog video surveillance equipment will remain stable in 2009, and the global IP video surveillance equipment growth rate may exceed 15%."
The recent third-quarter financial reports of IP video surveillance listed companies and data collected by IMS Research's quarterly network camera tracking service also confirm this growth forecast. The quarterly tracking data shows that the market for IP video surveillance equipment in the United States has grown significantly, and the region has reached the market forecast level of IMS Research from 2009 to 2010.
Wong said, "The emerging video surveillance market using IP video surveillance technology will grow faster than the global market growth rate in 2009, and these markets will continue to grow in 2010."
The Middle East is the best example: The region is relatively immature video surveillance market, but its IP video surveillance application rate is very high. One of the driving factors in the rapidly growing IP video surveillance market in the Middle East is the large number of new land development projects. Compared with Europe and the United States, security advisers and integrators in the region generally prefer to adopt IT technology, which is another driving factor. IMS Research’s forthcoming "CCTV and Video Surveillance in the Middle East - 2009 Edition" found that in some parts of the Middle East (especially Dubai) it has been seriously affected by the economic downturn, but its scope of influence is limited to a certain vertical market. According to forecast, the strong growth momentum of the entire region will continue until 2010.
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