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U.S. Surveillance and Security Market Valued at $60 Billion
According to a segment on CNN Money, the U.S. spends $60 billion on video surveillance and security equipment per year, with that amount expected to soar as more cities deploy security camera systems to thwart crime.
Take for example Chicago, which over the last decade, has installed an upwards of 8,000 surveillance cameras. In 2006 alone, the Chicago police made roughly 4,000 arrests, owing to video evidence captured by city cameras. Furthermore, Urban Institute, a nonpartisan think tank, reported that for every $1 invested in surveillance cameras, it saves Chicago $4 in other possible costs, including the costs of court and incarceration. The video below highlights the positive impact video surveillance has had on solving and reducing crime:
