In a recently published report ‘The Indian Market for CCTV and Video Surveillance Equipment,’ IMS Research, now acquired by IHS Inc., forecasts that city surveillance will be the fastest growing vertical market in India over the next five years. To counter terrorism, surveilance is now a key requirement.
Jon Cropley, principal analyst, IMS Research, forecasts video surveillance revenues for Indian airports to almost quadruple between 2011 and 2016. This isn’t surprising at all. With growth rates averaging over 20 per cent during the next fiveyears, India should continue to offer suppliers excellent growth opportunities. Here cloud-based video surveillance could also come into play!
IMS Research estimates that the global market for cloud-based video surveillance or video surveillance as a service was worth over $500 million in 2011. The market could well exceed $1 billion by 2014. That would be worth an eyeball!
The author is an executive editor at EFY