In an uncertain economic climate, there’s at least one boom on the horizon.
In China, the market for surveillance video will be $3 billion annually by 2012, the British firm IMS Research. That’s a growth rate of 23.8 percent from 2007-2012, the firm said.
Many of the cams and related equipment are already manufactured in China or nearby Korea. And the People’s Republic has already launched a stimulus package of its own to help pay for it all.
“The Chinese video surveillance market experienced a much slower growth rate in 2008 than the previous years,” said IMS Market Analyst Bo Zhang. “This is due to the influence of the global financial crisis and some big events that happened in China in 2008, such as the Beijing Olympic Games and the earthquake in south-western China. To confront the challenge from financial crisis, the Chinese central government has taken a series of actions to increase domestic demand to stimulate economic growth. The ‘New Deal’ stimulus package, with a value of $586 billion, calls for new housing, roads, railways and airports, plus rebuilding areas devastated by the earthquake. Consequently, 2009 and 2010 are forecast to be very strong years for the Chinese video surveillance market.”
The firm predicts that in 2012, nearly 16 million security cameras will be sold in China, accounting for one-third of the total security equipment market.
DVRs are the next-largest piece of that pie, with local DVR manufacturers estimated to fill more than 80 percent of that need in 2008.
However, China is not racing into the era of digital, networked systems as quickly as the rest of the world, according to the IMS. Sales of network video surveillance equipment, including network cameras, video servers, NVRs and network video surveillance software, were estimated at 10 percent of the total market in 2008, although that figure is expected to rise rapidly.