Security

Major Trends in the Video Surveillance Market 2018 to 2023

Memoori’s recent report The Physical Security Business 2018 – 2023 sizes the world market for Video Surveillance products in 2018 at $17.57 billion and that it will grow to reach $32.64 billion in 2023. This growth rate is higher than what we estimated in 2017, so where is extra growth coming from? Trading conditions improved in 2018 and more innovative and better products took advantage of this. Quality brands increased their share of the business. Additional growth over and above this could come from the demand for AI Video Analytics which will gradually be taken up over the next 5 years, having the potential to add a further $3Bn to the video surveillance market in 2023. Two Chinese manufactures Dahua and Hikvision take at least 40% of the world video camera market and despite the possibility of losing share in the USA through high tariffs and being banned from US government-funded contracts they will retain […]

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