by Shane Henson — December 27, 2013—Security professionals’ search for new products to better protect buildings and their occupants led the global market for security products to be worth $23.4 billion in 2013, according to a new report published by Memoori, an independent market research and consultancy provider. Of this, video surveillance products at $12.2 billion took a 52 percent share.
At 213 pages with 23 charts and tables, the report, The Physical Security Business 2013 to 2017, filters out all the important conclusions, supported with facts, as to what is shaping the future of the security industry. Per the report, combined product sales grew by 8 percent during the year, with growth in the video surveillance sector achieving 12 percent. It is the growth in Internet protocol (IP) video surveillance at around 30 percent that has made the major contribution and pushed up the demand for security equipment.
Memoori’s report also shows that the industry is wringing out more sales and investment dollars than could be expected given the poor trading conditions across the globe. Its robust performance is not only the direct result of increased concern about crime and terrorism, but is also due to the fact that the industry is delivering products and services that meet customer value proposition, such as increasing productivity and reducing operating costs while delivering a good return on investment.
