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Surveillance Industry Set To Top $20B In 2020

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 division, 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.

Flashpoint topics for 2020

IHS Markit has identified seven topics that will be important flashpoints for debate and discussion in 2020, such as the point that installed cameras worldwide will approach the 1 billion mark in 2020, and the significance that this might have. The paper also looks at potentially significant shifts that are set to shake up video surveillance manufacturing. For example, 5G promises turbocharged video for the security industry, and the uncomfortable truth of deepfake video surveillance. The report also covers hot discussion topics, including the transformation from IoT to AIoT, the merging artificial intelligence with the internet of things; analytics at the edge; and moving the cloud on premise.