Blog – In recent years, the video surveillance market has seen a boom in sales both in the public and private sectors. Some of the best outdoor wireless security camera systems implement hi-definition technologies, which can better detect threats or potential threats like never before. Video analytics, the need for physical surveillance in private and public sectors, and cloud-based services have led to an increase in the installation of video surveillance equipment. These factors indicate that the current sales figures are set to nearly double in the next five years.
Creating a personalized shopping experience for video surveillance equipment and security camera systems was a primary focus by industry leader Lorex Technology. Sufi Khan Sulaiman, vice president of eCommerce and digital at Lorex, says, “When customers showed interest in one product, we’d morph the website to show them more of what they’d like to see. By segmenting and pushing content based on what each person was browsing, we personalized the experience.” In creating a personalized shopping experience, Lorex was capable of carving out specific security camera systems and surveillance equipment for targeted niche audiences.
Personalization as a Sales Force in Video Surveillance
The ability to create personalized systems based upon client needs is a major driving force in the market. The hardware segment is a driving component in the boom in sales of the video surveillance market. The ability to create hi-def cameras, monitors and storage solutions for an affordable price allows manufacturers to develop equipment which provides added security features, which wasn’t available in years past. This — along with the increased need to protect homes and businesses, and prevent crimes from occurring — are among the factors which have led the increase in sales of this equipment.
With more affordable technologies available, manufacturers are now capable of producing high-quality systems, which more consumers are investing in today. The ability of manufacturers to create video surveillance systems for transportation, government buildings, sporting venues, retail, residential and other business organizations further enhances the personalization aspect of monitoring equipment for specific client needs in a given area or market.
Rise in the Public Sector
In the commercial sector, the sale of video surveillance equipment has seen major growth in recent years. For example, monitoring government and religious buildings have increased greatly because of terrorist threats and attacks. Additionally, the need to prevent theft and reduce robbery has driven the sales of surveillance systems in this sector.
Security equipment provides greater coverage, and the ability to see more than security guards would ever be able to monitor. And, the quality resolution and ability to monitor businesses from greater distances have made these systems superior to and more affordable than outsourcing a security monitoring company to protect their business.
Driving Sales in the Private Sector
Homeowners understand the need to protect their family and home, especially when they aren’t around to monitor their property themselves. Robbers are likely to commit fewer crimes knowing a hi-def, video surveillance system is installed on the premises. Simply having these highly developed systems, with monitoring technologies that can see more and monitor greater areas than equipment of the past, is enough of a deterrent to keep burglars away. The boom in sales of security equipment in the private sector is also a contributor to the sales boom which is expected to occur in this sector in the coming years.
What’s Driving the Sales Increase in Video Surveillance
Several contributing factors will lead to the expected increase in sales figures by 2022. New technologies including analytics technologies and cloud services are primary forces behind this increase. The fact that these technologies can greatly enhance the level of protection for private and public sectors from theft and other criminal activities are major selling points. The decline in pricing of these hi-def systems, because of increased technology and capabilities manufacturers can now implement, will also lead to an increase in sales.
Ultimately, a major jump in the sale of security camera systems is on the horizon, but just how great a jump is yet to be seen. Unparalleled technologies available to manufacturers today allows them to provide far greater protection in the public and private sector at prices consumers can afford and will continue to invest in.