Electronic Security Systems: Industry Research Report

Electronic Security Systems

Published Date: April 2008

Published By: Freedonia Group Inc

Page Count: 390

Order Code: R154-1809

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Demand to grow 7.8% annually through 2012
The US electronic security product market is expected to increase 7.8 percent per year to $15.6 billion in 2012. Growth will be spurred by a high perceived risk of crime (from conventional violent and property crimes to white collar crimes and terrorism) and a belief that public safety officials are overburdened. Technology developments that enhance the accuracy, ease of use and speed of operation of security systems will also bolster spending, not only in upgrading existing security systems but also by improving market penetration. The falling prices of many high-end electronic security components have further boosted market penetration across a broadening customer base.

Access controls to achieve strongest growth in demand
Systems that provide a high level of protection with a minimum amount of maintenance and manned support hold particularly good prospects. For instance, access controls are expected to achieve the strongest growth through 2012 because of technological innovations that allow them to employ an increasingly sophisticated array of clearance options that are more difficult to forge and are easier to operate. These systems can also effectively replace guards. Advances in access controls will be led by biometric versions, which will grow exponentially over the next decade, reaching $4.6 billion in 2017.

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