Security

Video Surveillance Will Open Up A Myriad Of Growth Opportunities Over The Next 5 Years

Memoori’s 2019 world report on the Physical security Industry shows that Video Surveillance product sales reached $19.15Bn in 2019 and could reach $35.82Bn by 2024. This growth is the highest we have ever forecast and is driven by a number of factors particularly the sales of AI Video analytics software now entering the commercial market. VSaaS is now growing at around 15% per annum and the impact of the IoT has yet to be fully realized. IP Video cameras could become one of the most powerful sensors in commercial and industrial buildings. We have given a separate forecast for AI Video Analytics because of the major impact it will have over the next 5 years and beyond. We forecast that its contribution will boost video surveillance sales contributing some $3.5Bn to 2024. It will be the main game changer over the next 10 years. We expect that China will take more than 50% of the […]

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