Despite the financial turmoil created by the global recession in recent years and with the economies of several countries still teetering on the brink of ruin, the demand for video surveillance solutions is expected to remain high, according to IMS Research.
While growth in the video surveillance market can be attributed to a myriad of factors, IMS said in a statement that there have been "two overriding themes," which are that the need for surveillance equipment has not dwindled and that all countries have not been impacted equally by the recession.
Additionally, the market for network video surveillance equipment is expected to remain strong, as the research firm is forecasting sales to grow by more than 25 percent. IMS says that the continued migration to network video technology continued through the economic downturn and even bolstered total video equipment sales.
IMS Senior Analyst Gary Wong said he expects the entire market to grow through 2012.
"The global video surveillance equipment market is forecast to continue to grow through 2012, spearheaded by sustained strong demand for network video surveillance equipment in the BRIC (Brazil, Russia, India and China) markets," Wong explained.
Network video surveillance sales in the BRIC markets are expected to grow in excess of 30 percent in 2012, according to the research firm.
"Some market players may be better placed than others to deal with a potential second recession. Vendors that have focused heavily on regional diversification, investing in developing brand presence and sales infrastructure in emerging markets, should prove to be more resilient to a Eurozone meltdown," Wong added.