German Electronic Security Market Now Worth Almost EUR 5 Billion
Germany’s leading electronics trade organization zvei and the country’s national association for security technology bhe say that the sector grew 4.5 percent in 2021, reaching a record value of EUR 4.9 billion.
Unlike many parts of the German economy, electronic security seems to have benefited from coronavirus disruptions to business as usual.
“The months of lockdown caused by corona allowed maintenance and upgrade work on security and other systems to be carried out,” said zvei Security Chairman Dirk Dingfelder and bhe Chairman Norbert Schaaf in a joint statement. “All in all, more projects were realized than postponed.”
Dingfelder said the main trends were toward digitalization, networked security systems and automated buildings. Speech activated alarms and video system enjoyed above-average growth of 14 and 7.7 percent respectively.