More than 1.1 million security cameras were sold globally through the retail channel in 2010, says a market research report by IMS Research, a provider of market research to the electronics industry. IMS speculates “the threat and fear of crime” might be the motive for the purchase of those cameras.
The U.S. National Crime Victimization Survey (NCVS) says, 15.6 million U.S. households experienced property crimes during 2009; while the British Crime Survey found that during 2009 and 2010, there was an estimated 659,000 domestic burglary incidents. “With these, and many more crime statistics appearing in national and international press, it is not surprising that consumers are looking to improve the protection of their properties,” IMS says in a written statement.
William Rhodes, market analyst, says, “Consumer and DIY video surveillance equipment can be quickly set-up and installed without complicated wiring or configuration,” and video surveillance equipment sold through retailers has dropped in price in recent years. “Price is an important factor for consumers choosing which security equipment to purchase,” Rhodes said. Therefore, “consumers are able to enhance the security of their homes simply and at an affordable price.”
In addition, the “increased features and functionality available for consumers,” is driving the market, according to Rhodes. “Many solutions now give users the ability to remotely view and manage video through a web browser or smartphone, meaning they are able to remotely ‘check-up’ on children, pets and their homes with no additional charge,” he said.
Global CCTV/Video Surveillance Market Forecast to Hit $15B by 2018
Markets in those areas will be driven by an increasing focus on threats