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| It is forecast that over 10 million security cameras will be shipped for domestic consumption in China in 2010 |
It is forecast that over 10 million security cameras will be shipped for domestic consumption in China in 2010. Network security cameras are forecast to account for only 3% of the market in terms of unit shipments. However, due to the higher average selling price than analog security cameras, they are forecast to account for 10% of total security camera market revenues in 2010. The compound annual growth rate (CAGR) of network security cameras is forecast to be in excess of 40% between 2010 and 2014. Utilities and transportation are forecast to be the fastest growing markets for network security cameras over the next five years.
"The combination of analog camera plus encoder still accounts for the majority of the market for IP surveillance in China. In terms of the number of IP surveillance channels, network cameras only account for around one-fifth of the total," comments market analyst, Bo Zhang. "However, network cameras are forecast to grow faster than video encoders in the next five years. Network cameras are becoming increasingly important in the Chinese security industry."
