What will be the top trends of 2021?
For our 2021 annual technology trends whitepaper we include trends from analysts covering the physical security technologies and critical communications industries.
Coming out of 2019, our 2020 whitepaper forecast a continuation of positive growth. The worldwide physical security equipment market grew by over 9% in 2019, with some regional markets, like India and Southeast Asia, expanding even more rapidly. However, against a backdrop of global industry disruption from COVID-19 and continued trade disputes between the US and China—the world’s two largest economies and also the two biggest players in the physical security market—the physical security equipment industry experienced significantly slower growth of less than 2% in 2020.
Despite many technologies experiencing negative revenue growth in 2020, Omdia is positive on the outlook for 2021. Optimism surrounding new technology developments, coupled with markets opening up and fewer restrictions on peoples’ movements later in the year as vaccination programs take effect, are expected to drive worldwide growth of 8% this year.
So, what will be the big stories in 2021? Video-centric IOT, AI-driven hybrid VSaaS solutions, and frictionless biometrics are just some of the trends discussed in our eleventh annual white paper on trends for the year ahead.
The predictions on the following are to provide some guidance on opportunities across security technologies in 2021:
If you would like to speak with one of our analysts on any of the topics covered in this paper, or to discuss our service offerings, please contact us. Oliver Philippou, Research Manager – Physical Security Technologies
Development of image processers, and the release of AI cameras by leading equipment manufacturers, is expected to drive the development of this market. In 2024, the percentage of surveillance cameras shipped which are AI cameras is forecast to grow to 58%, meaning that this technology will be available to large parts of the mid-market sector.
The COVID-19 pandemic is expected to accelerate a transition to frictionless biometrics as end users will seek to invest in hygienic alternatives to readers. Omdia projects that the market for frictionless biometric readers will grow over 15% in 2021 to $196.7 million, while demand for friction readers will grow less than 5%.
Omdia forecasts the Chinese market to grow at a five-year CAGR of 9.5% to $16.7 billion in 2024. The government’s new infrastructure construction plan is a major driver of demand in China. Market growth is also bolstered by fast adoption of advanced technologies such as video analytics software and underlying IT infrastructure.
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