The total world production value of security products at factory gate prices was $27.25 billion in 2015. Of this Video Surveillance products at $14.68 billion took a share of 54%, Access Control at $6.13 billion took a 22.5% share and Intruder Alarms at $6.4 billion had a 23.5% share.
We are forecasting that growth in total security equipment sales will edge up to 8% in 2016 and will reach $42 billion by 2020. The Access Control market has maintained its growth of 10% in 2015 and Memoori expects steady progress going forward with little competition from Chinese products currently on the horizon.
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.
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Towards the end of the decade Memoori expects the Internet of Things in Buildings (BIoT) to kick in providing 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.
At 252 pages with 26 charts & tables & ONLY $999 for a single user license, The Physical Security Business 2015 to 2020; 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.
You can learn more at the reports website - http://memoori.com/portfolio/physical-security-business-2015-access-control-video-surveillance/