The global market for security products and systems is projected to advance 8.4% per annum through 2008, approachin...
January 4, 2005
The global market for security products and systems is projected to advance 8.4% per annum through 2008, approaching US$74 billion.
Rising crime rates in many countries will be the primary demand driver, according to The Freedonia Group, Inc., a Cleveland-based industrial market research firm.
“Advancing technologies and moderating prices will continue to enhance the attractiveness of higher-end electronic systems such as closed-circuit television (CCTV), access controls, anti-shoplifting tags and contraband detection devices in both existing and novel applications.
Higher-end electronic systems will log the best gains, based on less penetrated markets, a high pace of new product development, falling prices and the ability to thwart increasing threats.
“Some of the most favorable prospects exist for color cameras, digital recording devices, wireless and Internet-compatible systems, “smart” radio frequency identification (RFID) electronic article surveillance (EAS) tags and access control cards, biometric identification systems and automated explosive detection devices, the company said.
Further information on the report is available at www.freedoniagroup.com.