After Boston, spending on video surveillance expected to surge - latimes.com

After Boston, spending on video surveillance expected to surge

Spending on video surveillance equipment is expected to increase following the attacks on Boston tBy Salvador Rodriguez

April 26, 2013, 10:11 a.m.

Video surveillance, a market that was already on an upward trajectory, is expected to receive a big boost in spending following the bombings in Boston.

The market for video surveillance equipment was already forecast to grow to $20.5 billion in revenue in 2016, up 114% from 2010's revenue of $9.6 billion, according to IHS, an insights and analytics company. But now, IHS says it is recalculating its forecast after the Boston Marathon bombings.

IHS says high-profile terrorist attacks historically have driven governments to increase spending on video surveillance equipment, and the same is expected following the Boston bombings, in which surveillance cameras played a key role in the investigation.

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"While it's too early to tell exactly what impact the Boston bombing will have, past events -- like 9/11 and the London Underground bombings -- have led to increased government spending on video surveillance for public spaces, particularly in the transport sector," said Paul Everett, an IHS senior manager, in a statement.

IHS had anticipated under $15 billion in spending on video surveillance in 2013 and more than $15 billion in 2014, but those numbers are being recalculated and are expected to go up.

Prior to the bombings, growth in the market was being driven by a transition from analog technologies to network-based security systems.