Worldwide market for video surveillance equipment will grow more than 12% in 2012 despite the weak and uncertain economic environment, according to IMS Research.
Western Europe, however, is projected to be the biggest drag factor that may impact global market growth for video surveillance in 2012, the report said.
IMS Research senior analyst and report author Gary Wong said the Eurozone debt crisis is expected to depress growth in Western Europe as austerity measures continue to be implemented and a lack of end-user confidence limits video surveillance equipment spend.
"Spain, Italy and Greece are forecast to be the three slowest growing European markets for video surveillance equipment in 2012," Wong added.
Wong said, "The global market will be driven by strong demand for video surveillance equipment in the BRIC (Brazil, Russia, India and China) countries."
The growth will be contributed by infrastructure development in advance of major sporting events in Brazil and a heavy focus on city surveillance in China, India and Russia.
The global video surveillance spend in 2016 is estimated to have 40% share from the BRIC market, which represent a 10% from the current 30%, whereas only low single digit growth is forecast for some of the more established markets.
Acceleration to the tipping point, when network video sales will overtake analogue CCTV sales, will be provided by rapidly increasing traction for network video surveillance equipment in the BRIC countries.
The world market for video surveillance equipment will tip in favour of network video in 2013, according to the report.
