The total value of Physical Security products at factory gate prices in 2017 was $29.2Bn, an increase of approximately 5% on 2016.
This is a decline in growth from its peak in 2014 but an increase on the last 2 years. Over the last 8 years the market has grown by a compound annual growth rate of 6.41% and Memoori forecasts the market will reach $41.27Bn in 2022 at a CAGR of 7.2%.
Of the three, still largely independent businesses, Access Control has maintained its average growth of approximately 7% over the last three years, and takes a share of 23.5%.
Why Do You Need This Report?
2017 has delivered an improved and more stable performance and all the main drivers for growth are now firmly ready to match the performance realized in the Halcyon days of profitable growth between 2010 and 2014.
However there are major technical and commercial challenges ahead that will stress the supply side and the shape and structure of the business will change significantly over the next 5 years. The challenge that currently preoccupies most companies is how they can operate profitably during the “race to the bottom” and survive.
The gap between the major suppliers and the many hundreds of smaller suppliers gets wider every year, whilst at the same time profit margins are falling increasing the minimum economic size to operate profitably in this industry.