The impact of COVID-19 on physical security markets

The economic consequences of the coronavirus pandemic will undoubtedly hit the professional video surveillance, intruder alarm and electronic access control markets hard. The greatest impact has been felt in new construction projects, which have stalled across the globe in the wake of the downturn. Global supply chains for crucial components of security equipment have been threatened, and demand has been negatively impacted across most vertical markets. It is almost certain that the global market will decline in 2020, though the rate of this decline will depend greatly on the length and extent of measures necessary to combat the pandemic. Despite the gloomy overall outlook for the global market, there are a small number of new opportunities for vendors in regards to specific verticals and technological trends.

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