Security

The State of the Physical Security Market 2019 to 2024

The physical security business has outstripped the growth of the world economy for the last 5 years and Memoori forecasts that it will increase its rate of growth over the next 5 years, despite the fears of a global recession starting in 2020. Demand has been built on the foundation that terrorism, crime, theft and safety must be controlled and physical security products are vital to ensure that this can be achieved. But more than that, the industry is now working hard to provide additional value to end users and creating further demand. The total value of world production of Physical Security products at factory gate prices in 2019 was $34.31Bn, an increase of 8.5% on 2018 whist the compound annual growth over the last 5 years was 7.24%. However different rates of growth apply in each of the 3 businesses (Access Control, Video Surveillance & Intruder Alarm / Perimeter Protection) and geographic territories. We […]

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