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| The findings are reported in "The China market for CCTV and Video Surveillance Equipment - 2010 edition" |
Coming through a disappointing 2009, the China market is expected to exceed 20% revenue growth in 2010 and be the solid core of the recovering global video surveillance equipment market.
The China CCTV & video surveillance market was estimated to be worth just over $1.4 billion in 2009. The market is forecast to grow at a compound annual growth rate of 20.2% between 2010 and 2014 and be worth an estimated $3.5 billion in 2014 - a substantial portion of the global market. The major drivers for market growth are increasing investment from the government in infrastructure and public security projects. The construction of ‘Safe City' projects is expected to enter the second stage of its life-cycle during the early part of the forecast period. Consequently, the airport, port & railway and education sectors are forecast to be the fastest growing sectors over the next five years.
"Network video surveillance products are growing more quickly than analog video surveillance products, but confronting more barriers to adoption in China than in overseas markets," comments market analyst, Bo Zhang. "One of the major reasons is that there is not an official ‘Test & Approval' scheme for network video surveillance systems. This makes decision makers cautious when choosing this type of security system for important applications. That said, there is a clear demand for network video surveillance equipment in China and adoption of it as a solution will increase."
If you would like an interview with an expert in this area, please contact Alastair Hayfield, Research Manager, via email or +44 (0) 193 340 2255.
