Security Electronics Growing at 8 Per Cent, Valued at $US27 Billion in 2015
TOTAL world production value of security products at factory gate prices was $USD27.25 billion in 2015 and the market is project to grow at 8 per cent through 2016.
Of this video surveillance products at $14.68 billion took a share of 54 per cent, access control at $6.13 billion took a 22.5 per cent share and intruder alarms at $6.4 billion had a 23.5 per cent share.
The Research and Markets report forecasts that growth in total security equipment sales will reach $42 billion by 2020. The access control market has maintained its growth of 10 per cent in 2015 and steady progress is expected going forward, with little competition from Chinese products currently on the horizon.♦