Novaira Insights releases its latest report, “The World Market for Video Surveillance Hardware and Software – 2022 edition”. A new report from Novaira Insights reveals that the global video surveillance market grew 16.4% in 2021 as restrictions on movement due to the COVID-19 pandemic eased. The report, “The world market for video surveillance hardware and software” shows that shipments of surveillance cameras and related equipment grew as pent-up demand was served. However, there was a shortage of components used for production of video surveillance equipment in 2021 and this led to higher prices for those components.
Genetec, Milestone Systems and Motorola Solutions have grown to become the “big 3” suppliers of video surveillance software, video analytics and managed services. According to a new report from Novaira Insights, the global market for video surveillance software and managed services was worth $2.2 billion in 2020 with around 69% of this outside China. However, the supply base outside China is very different to that of the Chinese domestic market.