Market report indicates $5.52 billion growth for security camera market by 2026
By SSN Staff
Updated 1:07 PM CDT, Tue August 23, 2022
NEW YORK – Advisory firm SpendEdge has released a report predicting market growth of $5.52 billion for the security camera market by 2026.
The report states the market will grow at a CAGR of 11.07 percent with most of the growth being attributed to certain areas. “The Security Camera Sourcing and Procurement market will register an incremental spend of about $5.52 billion during the forecast period. However, only a few regions will drive the majority of this growth. Moreover, on the supply side, North America, Europe, and APAC will have the maximum influence owing to the supplier base. The growth is expected to be primarily driven by increasing demand and adoption of the category across those few regions.” The report states.
In the report SpendEdge identifies AV Costar, Cisco Systems, and Canon emerging as the key security camera suppliers by 2026. Other analysis and reports have shown the overall physical security market to rise to $62.75 billion by 2026 and attributed the increase to global crime rate increases and developing cities and nations.
The full report can be acquired at procurement.spendedge.com.
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