The year 2020 will represent a landmark for the video surveillance industry, with global sales of goods including cameras, recorders, video management software (VMS) and accessories projected to surpass $20 billion for the first time, according to IHS Markit | Technology, now a part of Informa Tech.
Significantly, the world’s two largest economies, the United States and China—currently embroiled in a heated trade dispute—are also the two largest players in the video surveillance market. China accounts for approximately 45 percent global sales revenue, ahead of the United States, which is in second place.
Despite the ongoing trade dispute, and industry-specific tariffs and sanctions, the worldwide video surveillance market is forecast to grow by almost 10 percent annually in 2020, with some regional markets, like India and Southeast Asia, expanding even more rapidly.
What will be the leading security technology stories of 2020?
Deepfakes, the 5G revolution and the so-called Artificial Intelligence of Things (AIoT) are just some of the issues discussed in the latest IHS Markit | Technology white paper, titled Security Technologies Top Trends For 2020. This 10th annual white paper is designed to provide guidance on opportunities across the video surveillance landscape. BCS Bureau