CCTV market expected to see growth in transportation, retail industries

A new report by New York-based ABI Research projects that the video surveillance market will see growth within the transportation and retail industries over the next four years.

According to the report, global spending on video surveillance in the transportation and retail industries is expected reach $2 billion and $4 billion respectively in 2013. Among the factors cited for the increase in the report include companies within these sectors using CCTV cameras for applications beyond surveillance such as for liability prevention, analysis of customer behavior and store design.

In a prepared statement, ABI Research Vice President Stan Schatt said that many transportation facilities, such as rail station and airports, have begun using cameras to document accidents to guard against bogus lawsuits, while retail stores are using cameras to learn how they can more effectively manage their facilities and market products to consumers better.