Video surveillance market to pass $36B by 2018, report says
DALLAS—A recently released MarketsandMarkets report predicts the video surveillance systems and service market will be worth $36.28 billion by 2018.
Advances in technology, growing use of cloud-based services and an increasing need to deter crime are driving market growth, the report says. While hosted video is a cost-effective solution, increased awareness of surveillance could lead to further growth in the industry, according to the analysis. IP surveillance is expected to experience substantial growth by 2018.
The infrastructure and commercial sectors are showing stronger growth than institutional and residential sectors, the report says. The surveillance market is growing faster in North America because of increased government and retail use of the technologies, while development in China and India is fueling the market’s expansion there.