Jun 09, 2015

The market for video surveillance solutions is likely to rise even further, according to one new report, as organizations in a wide variety of industries increasingly look to expand their oversight options.

The June 2015 report from Axis Research Mind, titled “Video Surveillance – Global Trends, Estimates and Forecasts, 2013-2019,” predicted that from 2013 through 2019, the industry for physical video components will likely grow at a compound annual rate of more than 23.5 percent. By 2016, Axis Research Mind believes this subsector will be worth around $21.4 billion. It is not the only research firm showing growth in this space, as IHS recently found that the video surveillance equipment market grew by over 14 percentin 2014 and should be worth around $15.7 billion by the end of this year.

As far as where these systems are being implemented, Axis Research Mind found that while adoption is still most widespread in the Americas and Europe for now, the Asia-Pacific region has the highest expected growth rate for video surveillance systems in the years studied. Between 2013 and 2019, researchers believe the market there will likely rise at a CAGR of close to 34 percent to be worth around $3.6 billion. In particular, Jon Cropley, Video Surveillance Principal Analyst for IHS, noted that China will be one of the biggest markets in the world for video surveillance systems over the next few years.

Top expected use cases for video surveillance
Not only is the market for video surveillance expected to rise in just about all regions worldwide, but organizations in a wide variety of sectors will be looking to such solutions more frequently coming up as well. Axis Research Mind found that while industries including government, retail and finance will see upticks, the biggest industry in the video surveillance market will be transportation. By 2019, about 35.5 percent of all video surveillance projects in place will be for transportation-related applications.

“This year has been one of the most interesting—and disruptive—in recent memory for both the professional and consumer video surveillance industries,” a recent IHS white paper noted. “A sharp decline in the cost of semiconductor components has ushered in a new era of price competition and the competitive landscape has shifted, with merger-and-acquisition activity affecting some of the leading global product and software vendors. These changes affect the whole value chain for video surveillance.”