a&s Adria No. 155

Global Pandemic and Reasons for Optimism

Unexpectedly, the event that will mark the global security industry will not be growth nor revolutionary technologies or busniess acquisition, but the pandemic of the novel Coronavirus. While preparing the current issue, the virus has infected 850.000 people around the globe, while its direct impact killed more than 40 thousand people. Yet another big issue appeared as a consequence of the pandemic, that is the turbulences caused by the attempts to prevent its spread. Quarantines in many countries halted the production in many countries, import and export has been drastically reduced, so the markets and stocks on stock exchange display a huge fall.

The situation on global security market is also very complicated, especially the fact that some of its segments could be hit even harder, especially video surveillance and smart homes. According to the new research of Omdia company, the current pandemic of coronavirus could significanlty affect the global surveillance market, because of the decrease in demands and availability of products, caused by the reduction in production in China, in which 90% of the global production of CCTV is situated. There’s a justified fear that every production disorder, production and distribution chain could affect largley global CCTV market and the entire global security sector. We shouldn’t forget the issues in area of transportation and logistics, which could affect the distribution of equipment.

Less visible, but equally harmfull consequence of the pandemics lies in delays or cancellations of fairs and other security gatherings. But, some of the most significant security events, like IFSEC, are not cancelled, but rescheduled for some more appropriate dates. Companies are dealing with this crysis the best they can, working as much as they can, so we can say that there’s the reason for optimism. This crysis has shown that there’s a reason to be optimistic. This crysis has shown that more attention should be paid to handling of biohazard materials, so it is evident that some new business opportunities could arise from this.