The global security equipment and services industry has been growing at double-digit rates over the years and is estimated to top over USD170 billion by 2017, according to MIC (Market Intelligence and Consulting Institute).
Shipment value of the Chinese security industry is forecast to grow at 18.9% in 2016. Video surveillance is serving as a major pillar with a market share of over 30% and has been growing at a whopping 20% over the years.
Meanwhile, China's adoption of home security systems is relatively low and, as the market is still at the nascent stage of development, the market share was 4% in 2014, equivalent to USD17 billion.
MIC also found that the global home security market is shifting from traditional security to interactive security services with remote monitoring and controlling capabilities, including China.
