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We have published a new report on Access Control, Intruder Alarms & Video Surveillance in 2016, forecasting to 2021; which brings together all the factors that are influencing the future of the security industry.
The total world production value of security products at factory gate prices was $28.44 billion in 2016, and we are forecasting a CAGR of 5.65% over the next 5 year period to 2021. Access Control was the fastest growing sector at around 10%. Over the last 5 years the total market has grown at a CAGR of 8.2% but there has been a significant fall in growth over the last 2 years.
This slow down in revenue growth is attributable, not to a decline in demand, but to aggressive pricing by Chinese manufacturers of Video Surveillance equipment. They have adopted this strategy in order to win market share and scale up volume to take advantage of future commoditization.
Indeed, Chinese manufacturers have almost total control of their home market; which happens to be the largest single country market in the world and also protected by the fact that more than 50% of the business comes from the public sector. Imported equipment has little chance to win this business.
So a major concern for Western manufacturers in the Video Surveillance industry has to be countering the phenomenal growth of Chinese products, which are rapidly winning market share in their local markets; And to do this without reducing their prices to derisory margins. A possible solution for Western companies is to merge or acquire competitors if they want to achieve scale and remain viable in the mainstream market.
At 270 pages with 27 charts & tables & ONLY $1,500 USD for a single user license, The Physical Security Business 2016 to 2021; Access Control, Intruder Alarm & Video Surveillance report filters out all the important conclusions, supported by facts, to demonstrate what is shaping the future of the security industry. For more information, visit; http://memoori.com/portfolio/physical-security-business-2016-2021/
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