The total value of world production of security products at factory gate prices in 2013 was $23.4 billion. Of this video surveillance products at $12.2 billion took a 52% share, this according to a new report from Memoori Research.

Combined product sales grew by 8% during the year with growth in the video surveillance sector achieving 12%. It is the growth in IP video surveillance at around 30% that has made the major contribution and pushed up the demand for security equipment. Memoori’s report shows that the industry is wringing out more sales and investment dollars than could be expected given the poor trading conditions across the globe. It’s robust performance is not the direct result of increased concern about crime and terrorism but is also due to the fact that the industry is delivering products and propositions such as increasing productivity and reducing operating costs whilst delivering ROI. The report also shows that acclimatising to a rapidly changing business environment, reshaped by fast moving technology and new competitors from outside the traditional business leveraging their own expertise, will require clear vision of the present and future business opportunities and skilful implementation of appropriate strategies.

Sourced from security magazine