Revenue in 2014 is expected to rise to $15.9 billion, up from $14.1 billion in 2013, highlights the research firm in its latest report “Trends for 2014 - Video Surveillance Trends for the Year Ahead.”
Growth is led by strong demand for fixed-dome and 180/360-degree network camera products (with global unit shipments forecast to increase by more than 60 percent year-on-year). As for vertical markets, the city surveillance and utility/energy sectors will drive the biggest increases in sales, according to Niall Jenkins, research manager, video surveillance and security services for IHS.
The expansion of the market represents the first of 10 key trends that will shape the video surveillance business in 2014. These trends range from the rising use of big data, to the arrival of thermal cameras in the commercial market, to the continued introduction of power over Ethernet (POE) technology.
Looking at the remaining trends, IHS predicts that Police forces will increasingly request, and need to manage, crowd-sourced video surveillance data. While this will allow law-enforcement agencies to react more quickly, especially with the use of social media monitoring, it will also create data analysis and manipulation challenges.
In China, the concept of the cloud is becoming increasingly popular, especially as the telecom infrastructure matures. As network bandwidth improves and network product pricing declines, cloud-based video surveillance solutions have drawn the attention of more suppliers.
The market research firm also notes that increased competition, new products and new end-user markets will make 2014 a breakthrough year for thermal camera technology. What’s more recent developments in POE standards and products make overall surveillance cameras a much more viable option for security managers.
2014 could also be the year where live streaming of video surveillance to law enforcement becomes the norm. This combines with an expansion of video surveillance devices with chargeable video content analysis (VCA) providing end-users with advanced and reliable analytics.
New audio capabilities could also become a