Although the country has a large install base of analog video systems, Brazil, which is one of the fastest growing markets for security equipment in the world, is expected to see strong growth in the adoption of network surveillance products.
A new report from IMS Research estimates that the analog market accounted for nearly 60 percent of video surveillance equipment revenues in Brazil in 2011.
However, with its hosting of the 2014 World Cup and 2016 Summer Olympics, along with a large number of infrastructure projects taking place in the country, demand for IP video equipment in Brazil is expected to increase substantially
"A key element of the market in Brazil is the numerous local manufacturers that primarily supply analog cameras, and service the replacement market for the country’s large analog installed base," Oliver Philippou, IMS research analyst and report author said in a statement. "Furthermore, a forecast decline in analogue video surveillance equipment revenues means the Brazilian market is not predicted to grow as quickly as some of the other regions in Latin America over the next five years."
Contrast that with countries such as Mexico, Chile and Columbia, which although they may not hold the growth potential of Brazil, already have a higher percentage of network video products making up total market revenues. In fact, IMS said that both Chile and Colombia are expected to reach the IP tipping point this year.
For more information about the report, visit www.imsreserach.com.