Market research firm RNCOS recently released its 2007 report "Access Control Technologies and Market Forecast World Over", and those of you selling, designing and installing IP surveillance technology might just be giddy with the news.
The research firm indicated that by its account, the IP video surveillance market was practically bursting its seams in 2005 with a growth rate of 39.6 percent. RNCOS, which sells the full report, said that it expects to see a similar growth rate for IP surveillance over the next few years.
"The total market size for IP based CCTV reached about US$ 227 Million in 2005 as compared to US$ 159 Million in the year 2004," wrote RNCOS analysts in a report released to the press. "It is expected to grow at a CAGR of 39.6% within the next 5 years. In 2010, global IP based CCTV market size will reach to almost US$ 12 Billion."
The research firm also place IP surveillance growth at $1.3 billion for IP surveillance servers by the year 2010. RNCOS said the market for surveillance cameras will stand around $3.9 billion by the same year.