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Cities worldwide spent over $3 billion last year to peep on you

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Michael Rase
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The world market for security equipment in city surveillance surged past $3 billion last year and won't be slowing down anytime soon, a research report by IHS Markit said Wednesday.

State capitals and major cities have been spurring rapid development of city surveillance market in recent years, mostly to help police forces maintain public safety and reduce crime, the researcher said.

Demand has surged for video content analysis, like facial recognition, as well as for things like body-worn cameras and services for police officers.

IHS Markit estimated the city surveillance market will grow at average annual rate of 14.6 percent from 2016 to 2021.

China is the biggest market for security equipment in city surveillance, taking up a two-thirds share, and it will also be the first country to widely use facial recognition in city surveillance projects, according to the researcher.

More than 10,000 smart cameras are expected to roll out in Shenzhen city this year.

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Michael Rase
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