Thursday, August 19, 2004

Taiwan's CCTV market grows 17% in 2003

The CCTV market in Taiwan recorded 17 percent of growth last year in terms of total revenues, the highest rate among all security products.

According to a recent market research conducted by New Era International Inc. and National Chengchi University, the total security revenues marked US$0.7 billion last year, and are expected to reach $0.9 billion this year.

As such, the island should utilize its edge as one of the world’s top three CCTV suppliers, and make bigger impact on the international security arena. In this field, digital video recorder and IP camera will especially present strong potential to the vendors, said Parson Lee, general manager of New Era International.

As a whole, he said that the industry will move towards integration and solution suites instead of standalone products as seen in the current marketplace.

The trend of security merging with home automation solutions will bring forwards business opportunities to big names. IBM, Microsoft and Intel have already jumped into the bandwagon and this will definitely impact the industry, he observed.

The company held a seminar to announce the results of the market study yesterday, which attracted some 130 participants from the security and financial industries.


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