Security

Coping with COVID-19: Potential Impact on the Physical Security Industry?

The world is getting used to a new 'C-word', COVID-19. Less than a quarter of the way through 2020 and the global pandemic already has us evoking 'fond' memories of a simpler time in 2019; When we only had catastrophic bushfires and Climate Change to contend with. We are still in the beginning phase of this pandemic and our collective global efforts over the next 6 months will hopefully halt its rapacious advance. But at what cost to the world economy, and for the purposes of this article, what cost to the Physical Security Industry? The total value of world production of Physical Security products at factory gate prices in 2019 was $34.31Bn, which we estimated was an increase of 8.5% on 2018. Our analysis over the last 5 years, estimates the market grew over 7% per year. And over time, the industry has proven to be robust, driven forwarded by the consistent forces of […]

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