Published on 14 September, 2010
|The IMS report is titled ‘The East Europe and Russia Market for CCTV and Video Surveillance Equipment'|
Despite Moscow being covered in a thick layer of smoke and a tough year for video surveillance equipment suppliers in 2009, a new report from IMS Research
, has found the market is forecast to bounce back in 2010, with business returning to pre-economic crisis levels. ‘The East Europe and Russia Market for CCTV and Video Surveillance Equipment',
report from IMS Research, forecasts over 20% revenue growth year-on-year for the CCTV and video surveillance equipment market in Russia in 2010 and 2011. This large growth is due to the recovery of the economy post-recession, government spending increases, and substantial infrastructure projects planned within the country.
William Rhodes, Research Analyst and report author comments: "The Russian Railways Company's pledge of $100 million for video surveillance cameras across its network, the 2012 APEC Summit, and the 2014 Sochi Winter Olympics; will all drive the Russia video surveillance equipment market in the coming years. Many new video surveillance equipment installations are also likely in the coming months and years with increases in government spending due to rising gas and oil prices."
For video surveillance equipment vendors looking to succeed in Russia, Rhodes suggests the following: "Local support in Russia can help overcome cultural and language barriers, being able to offer local technical support is a critical success factor in this market. As in the case with most markets, but particularly important in Russia; partnerships with consultants and systems integrators are also critical to success in Russia. They can aid with the complex legal system and help specify vendors' equipment on project tenders."