Security

Coping with COVID19 – Its Impact on the Physical Security Business to 2025

Memoori’s 12th annual world report on the Physical Security Business estimates that the total value of Physical Security products at factory gate prices in 2020 was $31.7Bn, a decline of over 7% on 2019. Sales declined over all 4 quarters as a result of the COVID-19 pandemic. This has ended eleven consecutive years of growth in the industry. In June 2020, the World Bank published a baseline forecast envisioning a 5.2% contraction in global GDP in 2020. Against this backdrop, our report delivers a best estimate of the global market for physical security products going forward to 2025 based on two scenarios. At this time, COVID-19 has been having second spikes in Q3 / Q4 and several countries are experiencing rolling lockdowns. We believe our 2nd scenario looks most feasible where global markets take around a year to return to some normality and mass global adoption of a vaccine is achieved within 18 months. We […]

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