Security Industry Overview
The security industry is an industry that emerged with the security needs of modern society. It is centered on the reform and innovation of video surveillance technology. There are four stages of surveillance, network high-definition surveillance and intelligent surveillance. Breakthroughs in each stage are led by the innovation of upstream technology.
As of the end of 2017, there were approximately 21,000 security companies in China, with a total industry revenue of around 601.6 billion yuan, an average annual growth rate of 14.4%. It is expected that in 2021, the total revenue of my country’s security industry will exceed the 800 billion yuan mark, reaching around 821.2 billion yuan.
Surveillance Industry Demand
First-tier cities rely on product upgrades, while second-, third-, and fourth-tier cities sink their channels. The layout of the security infrastructure in my country’s first-tier cities has been improved, and the size of the security market has also tended to peak, with little room for growth.
In the next few years, the replacement and update of smart security systems will become the main growth point of the security industry in first-tier cities. The overall demand of the industry sinks to various districts in first- and second-tier cities and county-level areas in third- and fourth-tier cities. With the strengthening of public safety awareness in inland and small cities, the scale of the domestic video security industry is bound to expand further. The civilian market and overseas markets should not be underestimated.
China’s civil security accounts for about 11% of the overall security market. Compared with the 50% civilian security penetration rate in the United States, the current security industry market still has a lot of room for growth in the civilian field.
The scale of the overseas security market is more than three times that of the domestic market. From the perspective of the global market layout, the Asia-Pacific region, especially the security market in India and Southeast Asia, will become the focus of my country’s security companies’ overseas deployment in the future.
Vikylin is a professional security surveillance camera supplier with more than 10 years of history.