According to Freedonia, global security equipment demand will rise 7.4 percent annually through 2014. China, India, Russia and Turkey will register double-digit annual growth, while North America posts gains well above the global average. Electronic security products will remain dominant and greatly outpace mechanical types.
According to Freedonia, global security equipment demand will rise 7.4 percent annually through 2014. China, India, Russia and Turkey will register double-digit annual growth, while North America posts gains well above the global average. Electronic security products will remain dominant and greatly outpace mechanical types.
The Freedonia study, “World Security Equipment to 2014,”analyzes the US$70-billion world security market. It presents historical demand data for the years 1999, 2004 and 2009, and forecasts for 2014 and 2019 by product (that is, access control, surveillance, alarms, locks), market (commercial and industrial, government and institutional, residential), world region and for 28 countries. The study also considers market environment factors, details industry structure, evaluates company market share and profiles 39 industry participants, including UTC Fire & Security, Honeywell Security and Tyco Security Products.
Another Freedonia report, “World Security Services to 2014,” analyzes the $153-billion world security service market. The global market for private contract security services is forecast to advance 7.4 percent per year through 2014. The strongest market gains will be posted in developing parts of Asia, Eastern Europe, Africa and the Middle East where security markets are relatively underdeveloped. The U.S. will remain the largest single consumer. Industry participants profiled include Securitas, G4S and ADT Security Services.