The People’s Republic of China, home to one-sixth of the planet’s humans, is going gangbusters on video surveillance technology–so much so that it’s expected to be “the solid core of the recovering global video surveillance market” in 2010, according to a new report from England-based IMS Research,
According to its newly published report “The China market for CCTV and Video Surveillance Equipment – 2010 edition,” video surveillance revenue in 2010 is expected to top “disappointing” 2009 revenue by more than 20 percent.
The China CCTV and video surveillance market was estimated to be worth just over $1.4 billion in 2009, IMS said. The market is forecast to grow at a compound annual growth rate of 20.2 percent between 2010 and 2014 and be worth an estimated $3.5 billion in 2014–a substantial portion of the global market.
IMS says the major drivers for market growth are increasing investment from the government in infrastructure and public security projects, as well as construction of “Safe City” projects. Airport, port and railway and education sectors are forecast to be the fastest growing sectors over the next five years.
One example: A massive deployment of video surveillance gear in the Muslim-majority Uighur region in the western reaches of the nation, ahead of the first anniversary of an uprising that resulted in hundreds of deaths.
“Network video surveillance products are growing more quickly than analog video surveillance products, but confronting more barriers to adoption in China than in overseas markets,” said IMS market analyst Bo Zhang. “One of the major reasons is that there is not an official ‘Test and Approval’ scheme for network video surveillance systems. This makes decision makers cautious when choosing this type of security system for important applications. That said, there is a clear demand for network video surveillance equipment in China and adoption of it as a solution will increase.”
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