The global market for wireless infrastructure equipment used for video surveillance applications is set to “boom” over the coming years, according to a new study.
A new report from IMS Research, now part of IHS Inc, forecasts the market will grow tremendously and more than double between 2011 and 2016. It predicts worldwide revenue for wireless infrastructure equipment for video surveillance will reach $705 million in 2017, up nearly 160% from $274 million in 2011.
The research firm claims the market, which grew by 11% in 2012, will increase by 15% in 2013 to reach total global revenues of $350 million.
According to the report, the demand for low-cost systems in emerging economies like China and India will increase and drive the growth of the worldwide market.
The global market for wireless infrastructure gear for video surveillance applications is predicted to expand annually at 17% through to 2017; however China will be the global leader with a 28.8% increase during the period.
India and the rest of the Asia region will be the second-fastest growing region, with an increase of 27.9%, while Mexico (23.1%), Brazil (17.4%) and the rest of South America (26.6%) should also experience a high growth in demand.
The report outlined that while Asia is currently the smallest and least developed region for wireless infrastructure gear for video surveillance, it is forecast to grow the fastest globally. Factors such as a lack of existing infrastructure, low cost of wireless and booming demand were cited as key to this growth.
Josh Woodhouse, video surveillance analyst at IHS, said: “Offering a relatively inexpensive solution compared to trenching cable, wireless infrastructure delivers a low-cost option for those who that want to establish surveillance networks.
“In regions with widespread existing video surveillance infrastructure, such as the United States or the United Kingdom, the adoption of wireless infrastructure for video surveillance is growing steadily.
“However, emerging regions that lack such infrastructure will generate the strongest growth in the world, causing the market for video surveillance wireless infrastructure gear to boom during the coming years.”