Global production of security products worth $23.4 billion
LONDON—Production of security products, at factory gate prices, was worth $23.4 billion this year, according to a new report from Memoori.
Video surveillance products were worth $12.2 billion, just over half the total value. Growing at 30 percent, the IP video surveillance market pushed the increased demand for security equipment, the Nov. 11 report says.
Memoori says the industry’s “robust performance” is due to its ability to deliver products and services that customers need to increase productivity and reduce cost, and is not simply a result of growing fears of terrorism and crime.