my country's security industry has maintained a momentum of rapid growth. Industrial technology, consumer markets, and corporate brand building have all improved rapidly. The connotation of the industry has gradually extended, forming an industrial chain integrating R&D, manufacturing, construction, integration, operation, and sales services. Systems such as video surveillance, physical protection, anti-theft alarms, explosion-proof security inspections, and entrance and exit control have developed comprehensively. At present, my country has become one of the most important security video surveillance markets in the world and is also the world's largest manufacturing base for security video surveillance products. Data shows that the total revenue of my country's video surveillance market in 2016 was approximately US$6.4 billion. According to forecasts, my country's video surveillance market will be approximately US$10.2 billion in 2020, with an average annual compound growth rate expected to be around 12%.
Industry development trends
1. The security industry will continue to develop rapidly
The security industry is closely related to the level of economic development, technological development, residents' security awareness, and international anti-terrorism trends. With economic development and scientific and technological progress, the demand for social public safety and security continues to grow, security awareness gradually increases, the rapid economic development of developing countries and regions, the acceleration of urbanization and other factors promote the security industry on a global scale, especially in developing countries, will continue to maintain rapid development.
2. Market applications continue to expand in depth and breadth
With the continuous development of the security industry, traditional security fields such as finance, public security, transportation, telecommunications and other applications will become more in-depth; emerging application fields such as education, medical and health, safety production, etc. are growing rapidly, and civilian fields such as smart buildings, communities, and resident security applications are also growing rapidly. The personalized needs of users have become an important growth point. Market applications are gradually extending from developed countries to developing countries, and from first-tier cities to second- and third-tier cities and rural areas, and market demand is gradually expanding.
3. Industry concentration continues to increase
In recent years, the security video surveillance industry has seen a trend of reorganization, mergers and joint development. The integration of technology, brand and capital will be more in-depth. Cooperation between enterprises has expanded from products and channels to capital and brand levels. The concentration of the industry has accelerated, and market share has further concentrated towards mainstream enterprises. Due to lack of sustainable competitiveness, many small and medium-sized manufacturers have been gradually merged and acquired by mainstream enterprises or eliminated by the market.
4. Technological innovation has become the core competitiveness of enterprises
After years of development in the security video surveillance industry, market competition has become increasingly standardized and transparent, and the direction of competition has gradually shifted to product innovation and all-round rational competition in performance, quality, brand, and service. Technological changes and product upgrades continue to expand and extend the application space of security video surveillance systems. The technologies and concepts of the Internet of Things, cloud computing and big data continue to penetrate into the security video surveillance industry, which makes technological innovation the most important factor in competitiveness. The differentiated and customized needs of customers in different industries also prompt companies to continuously enrich their product lines and pay attention to technological innovation. The competitiveness and influence of security companies that master core technologies in the industry chain will be further strengthened.
5. The focus of the consumer market and R&D and production continues to shift to the Asia-Pacific region represented by China
In recent years, the rise of domestic chips has gradually grown and entered the mainstream market, reducing production costs across the industry and promoting the development of the security video surveillance industry. . Since 2015, China's video surveillance market has reached more than 40% of the world's total, becoming the largest consumer market for security video surveillance in the world. The domestic video surveillance market will continue to maintain rapid growth, and its importance and influence in the security industry will also continue to increase.
ANNA