Canadian security manufacturers finding new markets in European retailers
According to U.K. security research firm, IMS Research, the consumer and DIY video surveillance market is growing quickly in Europe, creating new opportunities for North American equipment manufacturers.
By Neil Sutton
William Rhodes, Market Analyst, said, “Although there are a couple of European based equipment vendors with dominant positions within their domestic markets, many of the retailers across Europe are selling own brand or unbranded consumer video surveillance equipment.”
With the North American security market growing increasingly competitive, manufacturers are looking at overseas expansion. “These companies are looking across the Atlantic for new revenue growth and branded suppliers have the potential to capture market share over existing unbranded equipment.”
Lorex Technology, a Markham, Ont.-based manufacturer of everything from baby monitors to wireless camera solutions, is an example of a Canadian company putting product on U.K. store shelves, said Rhodes. Specialty retailers like Maplin Electronics and big box stores like Costco are carrying their solutions.
IMS estimates that the European consumer and DIY video surveillance equipment market was estimated to be worth over $100 million in 2010.
In 2010 the European consumer and DIY video surveillance equipment market was estimated to be worth over $100 million, according to a new report from IMS Research. The region is forecast to grow at a similar rate to the Americas market; however, the competitive environment within Europe could offer branded suppliers a significant opportunity to capture market share from local unbranded equipment vendors.