According to a recent report by Memoori, the total world production value of security products at factory gate prices was US$27.3 billion in 2015. Of this, video surveillance products at $14.7 billion took a share of 54 percent, access control at $6.1 billion took a 22.5 percent share and intruder alarms at $6.4 billion had a 23.5 percent share.
According to a recent report by Memoori, the total world production value of security products at factory gate prices was US$27.3 billion in 2015. Of this, video surveillance products at $14.7 billion took a share of 54 percent, access control at $6.1 billion took a 22.5 percent share and intruder alarms at $6.4 billion had a 23.5 percent share.
In the report entitled "The Physical Security Business 2015 to 2020; Access Control, Intruder Alarms & Video Surveillance," Memoori forecasts that growth in total security equipment sales will edge up to 8 percent in 2016 and will reach $42 billion by 2020.
Continued strong growth in China should concern Western manufacturers of video surveillance products because they have failed to penetrate and establish a solid business in this market; which is now the largest single market for video surveillance equipment. In addition, two local manufacturers now have sales of more than $3 billion between them and have the kind of scale that will allow them to reduce prices to levels most western manufacturers can't compete with.
The access control market has maintained its growth of 10 percent in 2015 and Memoori expects steady progress going forward with little competition from Chinese products currently on the horizon.
Towards the end of the decade, Internet of Things in Buildings (BIoT) is expected to kick in and provide further growth. Integration across all three sectors of the industry has proved to be a cost-effective proposition but not the ideal solution. BIoT should make convergence with the business enterprise and integration with other building automation services a practical proposition.