In contrast, IP cameras are projected to grow at a disappointing annual average of 5.8 per cent over 2003 to 2010 while the highly commoditised VCR segment is set to be phased out completely.
Major revenue opportunities in the mature regional markets of the United Kingdom (currently the largest CCTV market in Europe), France and Germany are anticipated to exist in upgrading existing installed technology. Italy, Benelux and Iberia are also expected to gain in regional importance with the Iberian market, in particular, significantly boosting its revenue contribution.
As companies move to strengthen market share through offering a more diverse range of security systems - in particular complete CCTV security solutions including both image capture and recording - the trend of market consolidation is set to continue.
Adds Mr. Melero, "Moreover, the increasing demand to integrate all the components of a security system is forcing companies specialising in a particular technology to sign partnerships with system integrators or companies able to offer complete solutions in order to survive in an increasingly competitive market."
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