The Video Surveillance market is expected to be worth over $42 billion by the year 2020 according to a study by Transparency Market Research. The study analyzes market trends and revenue forecasts in the video surveillance market worldwide and in various industries such as infrastructure, commercial, industrial and residential. Video surveillance is a popular tool for home and business security, marketing and many other applications. An increased concern for security and safety will drive the market to higher levels of growth in the next five years. Users are looking for an economic way to protect valuables, buildings and people.
Recorders and storage devices held the largest share of the market in 2012 but the study predicts that will change by 2020. IP surveillance systems will hold the largest share of the market by 2020 due to an increasing need for high quality video. The transportation market, which includes traffic monitoring and mass transit, will become the largest consumer of video surveillance systems over the next five years. We are seeing an increasing number of buses and taxis installing security cameras to protect against theft, violence and other crimes. Asia Pacific is the fastest growing region in terms of video surveillance use due in large part to a high demand for security cameras in China.
Overall the market is expected to achieve a compound annual growth rate of 19.1% reaching a peak worth in 2020. The video surveillance market could continue to grow after 2020 as security and surveillance remains a top priority for users worldwide. The growth is due not just to new customers but to returning customers who are looking to continue their successful relationship with video surveillance.
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