A new research report from Memoori, "The Physical
Security Business 2022 to 2027", shows that the global
market for physical security products (access control,
video surveillance, intruder alarm & perimeter protec-
tion) has demonstrated both resilience and adaptability
in the face of growing geopolitical tensions and loom-
ing economic recession.
Trade tensions between China
and the US have seen a series of
legislative moves that have dis-
rupted the flow of both physical
security products and key product
components. These tensions are
also spilling over into Europe,
states Memoori.
"If further trade barriers are
erected, we will see a polarisation
of the physical security global
market," states James McHale,
managing director of Memoori.
9% growth in 2022
Memoori estimates that an-
nual revenues from the physical
security product market increased
over 9% in 2022, rising to $42.3
billion. Going forward growth
will be tempered somewhat, aver-
aging 6.5% per annum to 2027.
Video surveillance dominate
Video surveillance makes up
nearly 58% of the market in
2022, with China continuing to
dominate sales in this sector, ac-
counting for just under one-third
of the total global market. Whilst
China's Sharp Eyes projects are
winding down, Memoori analysts
suggest that continued state in-
vestment into smart cities as well
as programmes such as the Safe
China initiative should continue
to drive sales of security products
in China.
Video analytics trend
becomes stronger
The development and commer-
cialisation of new technologies
continue to drive growth in
the physical security market.
Memoori's recent analysis of Ar-
tificial Intelligence (AI) in Smart
Buildings found that the security
market, and particularly video
analytics generated the largest
share of overall AI revenues in
smart buildings, representing just
under 50% of total sales in 2020
at $558 million.
Little appetite for 5G
However, the research explains
that clearly not all new tech-
nology has the same impact.
For example, despite various
projections, Memoori finds little
current momentum or market
appetite for the deployment of
5G wireless video surveillance
at scale. The research company
estimates that the introduction
of 5G for video surveillance data
transmission will take at least
another 5 years to achieve the
levels of coverage, reliability and
falls in cost to have any kind of
real impact.
Footnote:
To order "The Physical
Security Business 2022 to 2027"
or just to get more info about the
report: Log into www.armedia.se/
en/products_other_physicalSecurity.
asp
Security market remains resilient in
spite of unprecedented challenges
James McHale, managing director and
founder of Memoori.
Stockholm, Sweden
Security News Every Day
www.securityworldmarket.com
6 · d e t e k t o r i n t e r n a t i o n a l
Security Technology
Market
Northbrook, Il (USA)
According to Marketsandmarkets the gunshot detec-
tion systems market is projected to grow from $4.9
Billion in 2022 to $7.8 Billion by 2027, at a CAGR of 9.7%
from 2022 to 2027.
To efficiently detect and track
threats, according to the ana-
lysts, advanced technologies like
artificial intelligence will merge
optical and acoustic data, and in
the upcoming years, these innova-
tions are anticipated to accelerate
market expansion.
North America takes
the largest market share
The gunshot detection systems
market industry has been studied
by the Marketsandmarkets
researchers in North America,
Europe, Asia Pacific, Middle East
& Africa and Latin America.
And, perhaps unsurprisingly, it is
the North American market that
accounted for the largest market
share in 2022. Law enforcement
agencies are also increasingly using
the technology, particularly in this
region. And the analysts suggest
that market growth in the upcom-
ing years is probably going to be
driven by increased spending in
border security. These tools can aid
border patrol agents in detecting
and stopping smuggling, infiltra-
tion, and illegal immigration.
Applications, solutions
and players
Fixed Installations are proving to
be the most popular, and account
for the largest share of the market
in 2022. The advanced fixed
Gunshot Detection Systems are
being installed around the city
to enhance the civilian security
and also to safeguard the country
border.
In terms of solutions the sys-
tem market is most dominant. For
example, a system would include
the sensors and hardware required
to detect gunshots. Numerous
sensors, including display systems
and acoustic sensors, are used in
gunshot detection systems.
The outdoor segment is pro-
jected to dominate market share
in the system segment during the
forecast period. The need for gun-
shot detection systems is rising due
to an increase in firearm events
throughout the world.
Major players
Some of the major players operat-
ing in the gunshot detection
systems market include Shot spot-
ter, Shooter Detection Systems,
Raytheon Technologies Corpora-
tion, and Qinetiq Group, all based
in the United States, and then
ACOEM Group and Thales both
from France, and Elta Systems
from Israel.
Gunshot detection systems market
projected for $7.8 billion by 2027