CLEVELAND, Aug. 23, 2017 /PRNewswire/ -- Demand for security cameras is projected to increase 7.2% annually through 2021 to $2.8 billion. Gains will result from a variety of factors that support replacement demand and sales of higher value, upgraded versions, including:
- ongoing product advancements in camera technology
- increasing affordability of cameras with expanded features, such as internal recording capabilities
- continued shift toward upgrading existing legacy analog systems to either IP or HD analog systems in order to utilize more feature-rich cameras and systems
- rising interest in higher value, more niche camera types -- such as thermal or explosion resistant -- as their prices continue to come down, which will work to expand the base of installed cameras
These and other trends are presented in Video Surveillance Equipment Market in the US, a new study from The Freedonia Group, a Cleveland-based industry research firm.
In 2016, dome cameras accounted for the largest share of video surveillance camera demand with 42%. Sales of these products have benefited from developments over the past decade, such as increased durability and higher resolutions. This has allowed for broader use of dome cameras in both indoor and outdoor applications. Dome camera sales have also gained from the rising use of cameras indoors, where these constructions are still highly popular due to their discreet appearance.
Through 2021, sales of all video surveillance products are projected to increase 5.6% annually to $4.9 billion. Growth will be driven by the increasing affordability of feature-rich systems that incorporate enhanced capabilities, which will work to expand the base of end users that choose to install video surveillance systems and spur replacement and upgrade demand among existing users.
More information about the study is available at https://www.freedoniagroup.com/industry-study/video-surveillance-equipment-in-the-us-by-product-technology-and-market-3553.htm
Related studies include:
- #3533 Security Alarms Market in the US (July 2017)
- #3517 Private Security Services in the US, 15th Edition (April 2017)
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Security studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com
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SOURCE The Freedonia Group