New statistics published by IMS Research on the global market for vehicle entrance control equipment forecasts growth within the gate automation industry to further decline to US$805.7 million in 2010 following a decline of -7.0 percent in 2009.
New statistics published by IMS Research on the global market for vehicle entrance control equipment forecasts growth within the gate automation industry to further decline to US$805.7 million in 2010 following a decline of -7.0 percent in 2009.
"With residential construction down, new market opportunities for gate automation companies continue to slow," commented Paul Everett, Report Author and Director of Security Research at IMS. Everett continues, "Hit hard by the construction downturn, the Americas market continues to toil showing no signs of recovery until 2012. Western Europe has also not escaped unscathed, posting the second lowest growth worldwide thanks only to moderate gains in Eastern European countries and the Middle East. Asia remains the catalyst to growth, and will continue to pull the market through these difficult times posting double digit growth each year through 2013."
With commercial buildings, protection in some shape or form is required rather than desired. With private residential properties, vehicle gates are not a necessity and as a result, market growth remains slow in this application. During the recession, most high wealth individuals still have money and will continue to purchase vehicle gates. Unfortunately, this type of customer accounts for only a small proportion of the market.