By Jon Cropley, principal analyst for video surveillance at IHS Markit
The world market for professional video surveillance equipment grew 3.9 percent in 2016. This is according to recently-published estimates from IHS Markit through its Video Surveillance Intelligence Service. This is a higher rate of growth than in 2015 (1.9 percent), but still low by historical standards.
Accounting for over 40 percent of global revenues measured in US dollars, the Chinese market grew 7.2 percent in 2016. However, exchange rate changes did play a role in suppressing a higher calculated growth in that currency (as the average annual exchange rate of the Chinese Yuan Renminbi to the US dollar fell by 6.6 percent in 2016).
The world market excluding China grew just 1.6 percent in 2016. Demand for security cameras grew rapidly but prices fell considerably, affecting revenues. In fact, revenues declined in a number of countries.
IHS Markit has just added new global and regional market statistics, forecasts and market share estimates to its Video Surveillance Intelligence Service. In addition to the above, key findings include: