Bharatbook.com - World Security Equipment Forecasts for 2012 & 2017

PRLog (Press Release) – Jul 04, 2008 – Demand to increase nearly 8% annually through 2012. Global demand for security equipment is projected to climb 7.8 percent annually through 2012 to $90.5 billion. Market gains in developing parts of Asia, Eastern Europe, the Africa/Mideast region and Latin America will outpace demand in the US, Western Europe and Japan. Security markets in these areas are, for the most part, underdeveloped, and product demand will be fueled by generally strong economic conditions, new business formation and foreign investment activity, increased urbanization (contributing to social tensions and criminal activity), growing middle and upper class populations, and an ongoing trend toward privatization of formerly state-owned industries such as banking and air transportation. Russia, Brazil China and India are expected to see some of the best sales gains. By 2012, China will surpass Japan to become the second largest security equipment market in the world behind the US. Growth is also expected to be strong in lower-volume markets like Turkey, Indonesia and Israel. Security equipment demand in developed parts of the world will be spurred by generally healthy economic conditions, rising business and personal incomes, strengthening building construction activity in the US and Japan, and ongoing concerns about the threat of new terrorist attacks. However, building construction spending is expected to moderate in Western Europe, and the maturity of most security equipment markets in  developed areas will constrain future increases in product demand.

Electronic products to offer best growth opportunities

Electronic security equipment will record the strongest sales gains through 2012. New generations of electronic security products offer substantial improvements over locks, safes and other mechanical devices, and market gains will be driven by further improvements in system capabilities. In addition, prices of a number of electronic security products are falling, making them more affordable to building owners looking to upgrade from conventional mechanical locks. Demand for access controls will grow the fastest, followed by closed-circuit television surveillance equipment, various electronic security products such as contraband detection systems, and alarms. Demand for locks and other mechanical security products will climb as well, bolstered by generally strong economic conditions in  developing parts of the world. Dollar gains will be supported by greater adoption of higher-cost hybrid mechanical/ electronic security products like electromagnetic locks and “smart” safes. The commercial and industrial security market is by far the largest in value terms. Future commercial/industrial market gains will be fueled by rising business activity as the world economy continues to grow. Although the government and institutional, and residential markets for security equipment are considerably smaller, they will post healthy  sales gains through 2012. Growth in the government/institutional market will be fueled by the heightened level of security consciousness that prevails in the post 9/11 era, with government agencies playing the lead role in providing for the security of the public at large. However, the best market gains will be recorded in the residential security market, stimulated by a high perceived risk of crime among residents in many areas and supported by the increasingly affordable nature of many types of electronic security equipment, although mechanical products (principally locks) will continue to account for the largest share of demand.

Study coverage

It presents historical demand data (1997, 2002, 2007) plus forecasts for 2012 and 2017 by product and market in 6 regions and 28 countries. The study also assesses market environment factors, evaluates  ompany market share data and profiles 39 industry competitors worldwide

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