New Research from Memoori http://memoori.com/portfolio/thephysicalsecuritybusinessin2013/ demonstrates that the geographic distribution of sales of security products is clearly changing with Asia becoming the dominant region. A major change in the geographic distribution of sales is taking place with Asia delivering the highest rate of growth and increasing its market share. This is set to continue because there is still a massive latent demand waiting to be exploited. In China penetration is almost an order of magnitude smaller than North America and well before this has been mined the Chinese market will be larger than the US. In the rest of Asia (including India) the penetration chart shows that this area has a lower level of penetration than China. There are a number of countries in this group that have large populations such as India, Indonesia, The Philippines and Vietnam. These countries have dragged down the penetration to $1.9 per capita. However Japan, Australia, South Korea and […]