Will the COVID-19 Pandemic Drive Further ACaaS & VSaaS Growth?

When we published our 2019 World Report on Physical Security at the end of last year, we forecasted an annual growth rate of 15% from 2020 to 2024 for both Access Control as a Service (ACaaS) and Video Surveillance as a Service (VSaaS). But by the middle of April 2020, the COVID-19 pandemic has caused over 160,000 deaths globally and taken a wrecking ball to the world economy. The International Monetary Fund (IMF) recently announced the recession will drag global GDP lower by 3% in 2020, but its managing director now thinks the gloomy outlook could be too positive. And should the pandemic last through 2020, the world economy would emerge with modest gains in 2021 in a sluggish rebound. This new cycle of recession will certainly reduce overall demand for physical security products in 2020. Our current best estimate is that the 1st quarter of 2020 will show a decline of 5%, caused by […]

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Physical Security Trade War Video Surveillance Access Control

US-China Trade War Continues To Polarize the Physical Security Market

The Physical Security industry has found itself on the frontline of the US-China trade ‘war’ and its involvement could have significant implications for its future and the future of the wider smart buildings and cities technology markets. “In recent years US-China geopolitical tensions within the physical security industry have escalated,” reports our latest security research. […]

Complimentary Article Physical Security Video Surveillance

Global Physical Security Market Resilient in the Face of Challenging Trade Conditions

Our new research report shows that the global market for physical security products (Access Control, Video Surveillance, Intruder Alarm & Perimeter Protection) has demonstrated both resilience and adaptability in the face of growing geopolitical tensions and looming economic recession. Trade tensions between China and the US have seen a series of legislative moves that have […]

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