The total value of world production of Security Products at factory prices was $23.4 billion in 2013; predicts Memoori, who have just published a new definitive report for security market research & investment analysis.

Memoori are forecasting a Growth Rate of 8% over the next 5 year period with the market reaching $32.2 billion by 2017. The 2 major drivers have been a 12% aggregate growth in video surveillance and higher levels of demand in Asia, which has increased its share to over 39% for all physical security systems. Growth has been much more modest in North America and Western Europe; currently the developed markets of Europe, Scandinavia and North America take some 47% of the value of the business, 2% down on last year.