According to a new report released this week by IMS Research, part of IHS Inc., the market for wireless infrastructure used to support video surveillance applications is expected to see tremendous growth over the next several years. In fact, due to demand for low-cost systems in emerging economies like China and India, the market is set to more than double from $274 million in 2011 to $705 million in 2017, an increase of nearly 160 percent.
The research firm predicts that the market, which grew by 11 percent in 2012, will increase by 15 percent in 2013, reaching expected revenues of $350 million. The global market for wireless infrastructure gear for video surveillance is expected to grow at a compound annual growth rate (CAGR) of 17 percent from 2011 through 2017.
In a statement, IHS analyst Josh Woodhouse said that wireless video surveillance offers a cheaper alternative for organizations and governments looking to implement camera networks that don’t want go through the trouble and expense of trenching cable.
"In regions with widespread existing video surveillance infrastructure, such as the United States or the United Kingdom, the adoption of wireless infrastructure for video surveillance is growing steadily. However, emerging regions that lack such infrastructure will generate the strongest growth in the world, causing the market for video surveillance wireless infrastructure gear to boom during the coming years," Woodhouse explained.
For example, from 2011 to 2017, China is expected to lead global growth in wireless surveillance infrastructure as the country will see 28.8 percent revenue CAGR during the period, followed by the rest of the Asia region, which includes India, at 27.9 percent. Mexico is anticipated to have a 23.1 percent CAGR, while Brazil and the rest of South America will grow by 17.4 percent and 26.6 percent respectively.
The research firm said that Cisco was the leading supplier of wireless video surveillance infrastructure gear in 2012 with a nearly 12 percent share of global market revenue. Click here for more information about the report.