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.

Many video surveillance equipment vendors were unable to absorb such cost increases and raised the prices of their own equipment. This dampened what would likely have been even higher unit shipment growth.

According to lead analyst and founder of Novaira Insights, Josh Woodhouse, ?The global average price of a network camera increased by over 7% in 2021. This made 2021 the first year in which the global average price of a network camera increased rather than decreased. Furthermore, general inflationary pressures will force vendors to increase prices yet further in 2022 and 2023?. Source: novairainsights.com