© yury asotov dreamstime.com Analysis | April 29, 2013
Boston bombing to boost video surveillance equipment spending
With history showing that high-profile terrorism events like the Boston bombing can drive increased government spending on security, global sales of video surveillance equipment could exceed the booming growth already predicted for the market.
Worldwide revenue for the video-surveillance equipment market is projected to rise to $20.5 billion in 2016, up a resounding 114 percent from $9.6 billion in 2010, according to IMS Research. Even so, IMS now is in the process of updating this forecast, taking into account recent events like the Boston bombing, which could impact spending and conceivably fuel additional growth. The attached figure presents the current IMS forecast for the worldwide video-surveillance equipment, a category that includes a broad range of products, including both analog and network video-surveillance equipment and accessories. “The growth outlook of the video-surveillance industry is subject to significant variances,” said Paul Everett, senior manager, video surveillance, for IHS. “This is because the market is dependent upon the vagaries of several intertwined factors that are difficult or impossible to predict, including economic conditions, government spending and notorious terrorism incidents. While it’s too early to tell exactly what impact the Boston bombing will have, past events—like 9/11 and the London Underground bombings—have led to increased government spending on video surveillance for public spaces, particularly in the transport sector.” Government funding and legislation play a major role in total video-surveillance spending, even though economic factors are also an important consideration. The U.S. Federal Emergency Management Agency (FEMA) has issued 11 grants for physical-security equipment and video surveillance that have generated millions of dollars of spending. The banking and retail sectors are also major spenders on video surveillance and have a major influence on overall market growth. For example, as a result of the financial meltdown and economic downturn of 2009, U.S. and worldwide spending on video surveillance declined during the year. The development of new technologies also is contributing to rising spending on video surveillance. Currently the market is undergoing a transition from analog to network solutions that enable network-based control and the monitoring of security and surveillance. By 2014, the global market for network-based video surveillance will climb to $7.0 billion, surpassing for the first time ever the analog segment at $6.5 billion. Network systems provide a range of advantages compared to analog. One major benefit is the use of megapixel security cameras able to capture high-definition images that improve the accuracy of video surveillance and security. Another enhancement is the use of network video recorders and external storage technologies, which make for more efficient and less expensive caching compared to on-site digital video recorders. Furthermore, network video surveillance systems also can be integrated with access control and other non-surveillance technologies for a fully integrated system.
ESD-Center aims to conquer the Baltics After 15 years of working the Baltic market, ESD-center, a Swedish supplier to the electronics industry, established its first office in Pärnu, Estonia in April of 2019.
EV manufacturer adds Chinese subsidiary for in-country operations ElectraMeccanica Vehicles, a designer and manufacturer of electric vehicles, has established EMV Automotive Technology, Inc. (Chongqing), a wholly-owned subsidiary, in China.
Silicon Labs acquires Qulsar's IEEE 1588 software and modules Silicon Labs has acquired all IEEE 1588 precision time protocol (PTP) software and module assets from Qulsar, a provider of PTP grandmasters, gateways and other system-level synchronization-based solutions.
GPV expands warehouse in Thailand GPV’s electronics production facility in Thailand has officially opened its new, 2,300 square metres warehouse.
US DoD to invest in SkyWater’s domestic technology foundry The U.S. DoD is planning to invest up to USD 170 million in SkyWater Technology for a project that will enhance its microelectronics capabilities and the strategic radiation hardened (rad-hard) market.
FANUC America opening robotics and automation facility Robotics solutions provider FANUC America held a grand opening celebration at its new 461,000 square-foot North Campus robotics and automation facility in Auburn Hills, Michigan this week.
Up on the roof: Foxconn hits milestone in WI Foxconn's Wisconn Valley Science & Technology Park is closing in on having “roof” checked off the list of tasks with the recent start of the roof installation on the nearly 1,000,000 square-foot TFT LCD fab.
Plasmatreat opens new technology and research centre Plasmatreat says that it is opening its new technology and research centre, Plasma Campus, at the its headquarter in Steinhagen. In the 1'400 square meter facility, new areas of application for plasma technology will be developed.
Sponsored content by Sourceability NA LLCComponent Aggregators vs E-Commerce Marketplaces What is the difference between electronic component aggregators and a marketplace?
67% of a buyer’s journey is now done digitally. Learn how marketplaces emerged as full-cycle procurement platforms and challenged the traditional component aggregators.
NOTE reports growth across the board The Swedish EMS provider is reporting record growth, a stronger operating margin and about 30% larger order backlog during its third quarter.
PCB Connect expands to Turkey Swedish PCB supplier PCB Connect is continuing its growth and has, since the first of September, established a local presence in Turkey.
Teradyne strikes deal for AutoGuide Mobile Robots Massachusetts-based Teradyne has entered into a definitive agreement to acquire privately held AutoGuide for USD 165 million.
Major investments part of tentative UAW, GM deal Details of the tentative agreement hatched between General Motors and UAW last week are emerging, including GM’s pledge to invest USD 3 billion in the Detroit-Hamtramck assembly plant.
CATL starts construction of its first overseas factory in Germany A groundbreaking ceremony of the first overseas factory for lithium-ion battery maker CATL took place on October 18 in Thuringia, Germany, marking the start of construction of the first lithium-ion battery factory in Germany.
Mycronic delivers mask writer to Asia Swedish Mycronic says it has received an order for a Prexision-series mask writer for display applications from an existing customer in Asia.
Protolabs invest GBP 5M in expansion Protolabs, digital manufacturer of custom prototypes and low-volume production parts, has announced a GBP 5 5million expansion plan at its European Headquarters in Telford (UK).
Joyson Safety invests in Hungary Joyson Safety Systems is starting a new investment round at its Hungarian facility in Miskolc. The EUR 50 million investment project aims to improve efficiency and increase production volume.
REC Group starts mass production on Meyer Burger equipment Norway-headquartered solar module manufacturer REC Group has started mass production of its new Alpha modules. This new generation of modules is manufactured on Meyer Burger HJT/SmartWire core equipment.
AQ Group opens new Wiring Systems factory in Poland AQ Group has officially opened a new production facility for their AQ Wiring Systems unit in Łódź (Poland).
Mynaric secures €1.7 million contract Mynaric will deliver multiple laser communication flight terminals to an undisclosed customer in an initial deal valued at EUR 1.7 million.
EMPA spin-off TwingTec takes flight Anyone who has ever steered a child's kite knows the feeling: the wind grips the kite and pulls the string. The rope is quickly tensioned, the pulley rotates between the fingers and is difficult to control. The question arises: Could this wild energy not only be used to play, but also to generate electricity?
Collaboration for the electrification of Europe’s buses BMZ, Horiba Mira and Ziehl-Abegg have teamed up on developing a turnkey service for converting existing bus fleets to e-Buses.
Tin users see weaker markets A survey carried out by the International Tin Association (ITA) showed refined tin use grew by 2 percent in 2018, but points to a contraction in most sectors in 2019. 141 companies took part in the survey, accounting for some 43 percent of estimated global refined tin use in 2018.
Kleos Space establishes US foothold Luxembourg-based DaaS company Kleos Space has incorporated a US subsidiary to integrate and sell its maritime ISR data into US defence and security government departments, agencies and industry.Load more news