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 […]