According to a new report from IHS Inc., the overwhelming majority of mobile video surveillance equipment is sold to the North American market.
In fact, "The World Market for Mobile Video Surveillance – 2013" report found that of the $500 million spent of mobile video surveillance in 2012, the Americas accounted for around 70 percent of all revenue, a total of $346.6 million. The U.S. and Canadian markets combined are bigger than the collective Europe-Middle East-Africa (EMEA) region at $83.3 million or Asia at $68.7 million.
"The skew toward North America comes primarily through huge sales in the police car and school bus vertical markets," said report author and IHS Senior Analyst for Video Surveillance David Green in a statement. "This is something we’ve seen in each of the previous three editions of the research, but sales across these two verticals have pushed North America even further out in front."
IHS said that opportunities for the market in the EMEA and Asia regions are growing in the areas of transit buses and in trains and trams. In addition, many of the leading manufacturers in North America say they are already investigating future sales prospects in Europe. By 2017 American sales will jump to $489.0 million, compared to $116.2 million for EMEA and $91.8 million for Asia.
"It’s fair to assume that the Americas will remain by far the largest region for at least the foreseeable future, but don’t be surprised to see some quicker growth in EMEA and Asia in the second half of this decade," Green concluded.
For more information, visit www.ihs.com.