State of the Market: All Eyes on the Rise of Video Security
Chimera Integration's Casey White (left), president, and Justin Stearns, innovation specialist. The integration firm is experiencing significant growth in providing cloud-hosted video systems that meet compliance and regulation requirements for end customers across New York and beyond. // IMAGE COURTESY OF CHIMERA INTEGRATIONS; CELAFON/CREATAS VIDEO+ / GETTY IMAGES PLUS VIA GETTY IMAGES
According to SDM’s 2023 Industry Forecast, 69 percent of security professionals consider the state of the video surveillance market to be very good or excellent, while 22 percent consider it to be good, and just 10 percent believe the state of the market is poor or fair. Overall, video sector projections have improved slightly over last year, when security professionals reported these same response categories at 63 percent, 29 percent and 9 percent, respectively.
The general optimism expressed by survey respondents is reflected in rising sector revenues. For example, 76 percent expect revenue from video surveillance systems (on-premise and cloud-based) to increase in 2023, up 12 percentage points from the previous year.
Ahead, we tap numerous video surveillance specialists to explore their marketplace opinions and understanding on a range of topics, including key growth drivers for products and services, performance expectations for 2023, top channel obstacles and much more.
