Despite a shaky worldwide economy, IMS Research is predicting that the global video surveillance market will grow by more than 12 percent in 2012.
While the looming Eurozone debt crisis will make Western Europe the biggest “drag factor” on market growth, strong demand from the BRIC (Brazil, Russia, India and China) countries is expected to bolster the industry, according to IMS Research Senior Analyst Gary Wong.
"Infrastructure development in advance of major sporting events in Brazil and a heavy focus on city surveillance in China, India and Russia will be key drivers for growth in these countries," explained Wong. "Currently, the BRIC market is estimated to represent approximately 30 percent of global video surveillance spend. This is projected to increase to more than 40 percent of global spend in 2016. Whilst only low single digit growth is forecast for some of the more established markets for video surveillance equipment, the aggregate BRIC market is forecast to grow in excess of 20 percent in 2012 (year-on-year)."
This growth in demand from the BRIC countries is also anticipated to accelerate the tipping point for when sales of network video solutions overtake analog.
For more information about the "The World Market for CCTV and Video Surveillance Equipment -2012 Edition," visit http://imsresearch.com.