The Freedonia Group forecasts the global market for private security products and systems to advance over eight percent per annum through 2010, reaching $90 billion.
April 27, 2007 (Press Release) --
World Security Equipment industry forecasts to 2010 & 2015
Global security equipment demand to grow 8% annually through 2010
The Freedonia Group forecasts the global market for private security products and systems to advance over eight percent per annum through 2010, reaching $90 billion. While building construction, especially in North America and China, is expected to decelerate from the impressive 2000-2005 performance, a firming global economy and rising urbanization will continue to drive demand. Also important will be heightened fears of domestic crime and terrorism in many countries, recovery in the travel and tourism industries, and an improved price/performance tradeoff for advanced electronic security systems. The latter include closed-circuit television (CCTV), access controls, anti-shoplifting tags and contraband detection devices.
US to remain top security producer, consumer
The US will remain the largest single producer and consumer of security equipment, accounting for nearly one-fourth of total demand. In all, the developed world accounts for some 70 percent of total demand, with North America, Japan and Western Europe all expected to see quickening growth through the end of the decade.
Developing regions to post fastest gains
The fastest growth is anticipated in the world’s developing regions -- Asia, Latin
America, Eastern Europe, Africa and the Middle East. These areas feature largely unpenetrated private security markets and are characterized by rising crime rates, expanding economies, new business formation activity, heightened foreign investment, emerging middle and upper classes, and privatization of formerly state-owned industries like banking and air travel. As such, they will increasingly possess both the need for and the means to invest in supplemental security measures.
China security equipment market offers great potential
China in particular offers tremendous potential; while currently accounting for less than six percent of global demand, its market will surpass $10 billion by early in the next decade, among the fastest rates of growth in the world. Security equipment markets in Latin America and Eastern Europe will also grow at double-digit rates, while spending in the Middle East will benefit from inflated petroleum prices.
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Global security equipment demand to grow 8% annually through 2010
The Freedonia Group forecasts the global market for private security products and systems to advance over eight percent per annum through 2010, reaching $90 billion. While building construction, especially in North America and China, is expected to decelerate from the impressive 2000-2005 performance, a firming global economy and rising urbanization will continue to drive demand. Also important will be heightened fears of domestic crime and terrorism in many countries, recovery in the travel and tourism industries, and an improved price/performance tradeoff for advanced electronic security systems. The latter include closed-circuit television (CCTV), access controls, anti-shoplifting tags and contraband detection devices.
US to remain top security producer, consumer
The US will remain the largest single producer and consumer of security equipment, accounting for nearly one-fourth of total demand. In all, the developed world accounts for some 70 percent of total demand, with North America, Japan and Western Europe all expected to see quickening growth through the end of the decade.
Developing regions to post fastest gains
The fastest growth is anticipated in the world’s developing regions -- Asia, Latin
America, Eastern Europe, Africa and the Middle East. These areas feature largely unpenetrated private security markets and are characterized by rising crime rates, expanding economies, new business formation activity, heightened foreign investment, emerging middle and upper classes, and privatization of formerly state-owned industries like banking and air travel. As such, they will increasingly possess both the need for and the means to invest in supplemental security measures.
China security equipment market offers great potential
China in particular offers tremendous potential; while currently accounting for less than six percent of global demand, its market will surpass $10 billion by early in the next decade, among the fastest rates of growth in the world. Security equipment markets in Latin America and Eastern Europe will also grow at double-digit rates, while spending in the Middle East will benefit from inflated petroleum prices.
For more information, Please visit : http://www.bharatbook.com/detail.asp?id=8489
or email us at : info@bharatbook.com
You can also call us at +91-(022)-2757 8668 or +91-(022)-2757 9131
For searching our huge collection of reports, Please visit :
http://www.bharatbook.com/general/customresearch.asp
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