Security

World Sales of Physical Security Products in 2019 was $34.3Bn but Global Demand is Unbalanced

Our new annual report shows that total value of world production of Physical Security products at factory gate prices in 2019 was $34.3Bn, an increase of 8.5%. Of the 3 product categories covered in the report, video surveillance had the highest rate of growth at 9.7% over the last 3 years and accounts for 56% of world sales. Western manufacturers have competed better against Chinese competition this year, but they still have little possibility of penetrating the Chinese public sector business. China is by far the largest single market probably accounting for 35 to 40% of world demand for video surveillance. Access control was expected to deliver slightly higher growth than the 8.2% we have estimated in 2019. It now accounts for 24% of word sales. It continues to expand the IP network business, advancing deeper into biometric, identity management, wireless locking systems and ACaaS. This would have been the 3rd consecutive year that it […]

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