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News Release from: Frost and Sullivan
Edited by the Electronicstalk Editorial
Team on 11 May 2007
Europe embraces video surveillance
Study finds that the European CCTV and video surveillance equipment market earned revenues of US $1.42 billion in 2005 and predicts it will reach $1.94 billion in 2012.
CCTV in Europe is on a high growth trajectory, with rising awareness and adoption of IP solutions acting as major drivers bolstering growth In addition, proactive systems capable of performing intelligent analysis are spurring demand for network cameras and recorders
This article was originally published on Electronicstalk on 28 Jul 2006 at 8.00am (UK)
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The European CCTV and video surveillance equipment market is relatively the most active segment within the security industry in comparison to other building security equipment, and is characterised by a surge of activity in the IP surveillance domain.
A new study from Frost and Sullivan: "European CCTV and video surveillance equipment markets", finds that the market earned revenues of US $1.42 billion in 2005 and estimates this to reach $1.94 billion in 2012.
IP-based video surveillance systems are enjoying huge publicity, with every business thinking of or already incorporating network-based solutions into their surveillance systems.
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These systems are considered more or less as a commodity, with customers beginning to regard them as the most effective way to deter the growing levels of crime.
As a result, the market is witnessing a major technological transition towards network-enabled surveillance solutions.
"More than any other factor, the unnoticed breaches in security, followed by the subsequent loss of either personal or sensitive data, have heightened the need for CCTV and video surveillance solutions as part of security systems in every organisation", says Frost and Sullivan Research Analyst Archana Umesh Rao.
"Across Europe, it is evident that awareness levels of the need for video surveillance are at an all-time high, following acts of terrorism, vandalism and violence".
In this situation, CCTV and video surveillance systems capable of capturing, transmitting and recording real-time data are seen as the only solution to deter crime.
However, at present, the difficulty in convincing resellers and end users to follow the market trend towards IP technology is slowing down the migration to network-based solutions.
"A strong analogue market, followed by years of experience of security companies in offering traditional CCTV products, is rendering it difficult for manufacturers to make installers look beyond what they have been offering up to now", explains Rao.
"As a result, educating end users and installers, as well as making them aware of the huge benefits and the return on investment for network solutions should remain a key focus area for market participants".
In addition, eliminating scepticism towards possible data tampering and network availability will help to further reinforce end-user confidence in video surveillance solutions.
"European CCTV and video surveillance equipment markets" is part of the Automatic Identification and Security Growth partnership Service, which also includes research in the following European markets: fire detection equipment, residential security and industrial and commercial security.
All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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