Video Surveillance Market Eyes Explosive Growth
- Apr 04, 2008
ABI Research, headquartered in New York , predicts that the video surveillance market is about to have a burst of growth. ABI has reported that in 2006, the industry had revenues of about $13.5 billion and their research indicates that revenues will swell to $46 billion in 2013. This growth will affect all the kinds of services and equipment that are necessary in security systems work, such as cameras, computers, storage and hardware infrastructure–as well as professional services. ABI Research vice president and research director Stan Schatt explained to CPN some of the factors that are pushing this growth. First of all, the technology is moving from analog to digital. “Analog is proprietary, and usually each company has its own system. But digital can have much wider use. You’re starting to see more and more video surveillance systems that are able to essentially use an existing IT networks”. The cameras have much higher resolution now which provides wider coverage, so one camera can replace the work of several of the older ones. This is important for commercial use, because it offers panoramic views. And over the last few years the software has been growing really innovative. The uses for video surveillance are not all just for security purposes. For example, the equipment now is so refined that you can even monitor the motion of consumers’ eyeballs while they are shopping, to observe what the shoppers are looking at, and where their attention lingers, and for how long. Also, Stan Schatt explained that video surveillance and storage is particularly valued in the real estate industry. The law requires that if video is going to be used in a court case it must be archived, and unaltered. So it requires a lot of storage. “As we’re moving to digital, people are able to store data on the network, in some cases on the internet, and in some cases they can use special long-term storage on their own networks” said Schatt. Europe and the United Kingdom have moved far quicker than the United States in making use of video surveillance. There are some 4.1 million cameras in the UK –one on every corner, acdording to Schatt. But here in the States, it was only in the military, and not until Homeland Security did we see a major interest. So there is much more room for expansion in the industry, here in North America . Plus, more large organizations are starting to install a centralized security system. Said Shatt, “Also, we expect to see prices continue to decline…it’s a mature technology. And with digital coming in, prices will continue to go down. You might have to pay more for milk and eggs but you’ll be able to spy on people for less money.” ABI Research, founded in 1990, and located in New York , London and Singapore , provides market intelligence and analysis about emerging technology markets to hundreds of clients worldwide. ABI research results are also quoted in hundreds of print and online trade publications.