(I) Industry Overview
With the changes in the complex international security environment and the continuous improvement of people’s awareness of family and social security, security products are becoming more and more popular. Many urban construction and security system renovations, especially the increase and improvement of monitoring systems, reflect the huge market for security products.
The average growth rate of global GDP from 2012 to 2017 was 2.7%, but the growth of security business was higher than that, which is a very amazing phenomenon. In the past 10 years, the compound annual growth rate of this market was 6.27%. According to Memoori’s forecast, the market size will reach US$56.76 billion in 2024, with a compound annual growth rate of 10.72%, but the growth rates of the three major businesses of video surveillance, access control, and anti-theft alarm will be significantly different in different regions around the world.
In the next five years, illegal activities will still not be completely quelled, and the government’s budget for public security will continue to increase, which will promote the further development of the security market. With the help of IoT technology, the demand for the integration of security technology and user business will continue to grow, and by the end of 2020, with the acceleration of economic growth, it will become more obvious.
The global physical security market will grow at a compound annual growth rate of 10.7% in the next five years, mainly driven by the development of artificial intelligence video analysis software. By the end of 2024, its total market value will grow to US$3.5 billion, further driving users’ demand for more video surveillance hardware.
(II) Key exhibitions
1. International Security Exhibition West (ISC West)
Time: October 5-8, 2020
Location: Sands Expo Center, Las Vegas, USA Organizer: Reed Exhibitions USA
Exhibition Overview: The 54th exhibition was successfully held at the Sands Expo Center in Las Vegas from April 10 to 12, 2019, covering an area of more than 29,000 square meters, with a total of more than 1,000 exhibitors and 31,000 professional visitors. There are more than 100 Chinese exhibitors, with an exhibition area of more than 2,000 square meters.
2. IFSEC, London, UK
3. SECURITY ESSEN, Germany