Video Surveillance
Network Video Camera Surveillance Market
Exceeds Expectations
In its latest report on the video surveillance market, IMS Research
has revised upwards its forecast for the network camera market, due
to faster than expected customer acceptance of this new technology. IMS
now forecasts that the world network camera market will grow at a CAGR
of 53% to exceed $1 billion by 2009.
The IMS report cites several reasons for the upgraded forecast, including
heightened awareness and availability of network cameras following
a flood of new product announcements during 2005. The limited choice
of network camera models had previously been a barrier to growth, but
potential customers now have a much wider selection of models from
a greater number of suppliers.
There has also been a shift in the product mix away from basic, low-end
cameras in favour of professional, higher value products, such as mega
pixel network cameras and network dome cameras. The result is that
network cameras are now suitable for use in the majority of surveillance
applications.
IMS Research predicts that the next generation of network cameras
will have embedded video content analysis capability to detect various
behaviours or events. The first products have hit the market by Verint
a leader in the IP CCTV technology industry. Other manufactures are
forecast to within the next twelve months to have limited features.
IMS Research senior analyst Simon Harris commented, "When IMS
published its last report on this market two years ago there was a
great deal of skepticism about network cameras, but this has passed
and users are now ready to embrace the benefits of networked video
surveillance. We see the network camera market growing strongly over
the next few years as users upgrade their systems to take advantage
of the latest technology".