Big Brother's Business is Booming
Junko Yoshida writes in EE Times:
Video surveillance is suddenly "the fastest-growing market for [digital] video chip providers."More here.
The top executive at one such company, president and CEO Chris Day of Mobilygen (Santa Clara, Calif.), made that comment shortly after wrapping up a trip to China, where video surveillance applications are proliferating at an alarming rate.
Indeed, according to a China Security Market Report issued last year by the Security Industry Association (Alexandria, Va.), China's security and protection market, which includes fire and safety monitoring along with security surveillance and access control is projected to jump from $6.3 billion in 2005 to $18 billion in 2010.
That should come as no surprise to many in the U.S. financial community, which has been closely following the growth of companies that install and operate surveillance systems at banks, police stations, Internet cafes and other public places in China. The International Herald Tribune last year reported that American hedge funds have put more than $150 million into Chinese surveillance companies.