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Security Products to 2016

As Quoted In Security InfoWatch 


 





Study #: 2917
Document Type: Industry Study
Date Published: Aug-2012
Format:
   Full study: PDF
   Section, Pages, Tables and Charts: HTML
Pages: 464
Full Study Price: $5,100.00
       

    

Advances will result from a perceived high risk of crime and the widespread belief that public services, such as local police, are inadequate and require supplemental security arrangements.

US demand to rise 6.3% annually through 2016

The US market for security products and systems is expected to increase 6.3 percent annually to $19.9 billion in 2016. Growth will be driven in large part by strong rebounds in construction and capital investment spending from low 2011 bases, following a period of economic contraction and a tight credit environment.

Advances will result from a perceived high risk of crime and the widespread belief that public services, such as local police, are inadequate and require supplemental security arrangements. Ongoing technological improvements that enhance the accuracy, ease of use, and speed of operation of security systems will also bolster spending, not only by spurring interest in upgrading existing security systems but also by improving market penetration. Additionally, falling prices in some segments and improved functionality have increased market penetration across a broadened customer base.

Access controls, locks to be fastest growing types

Electronic access control systems and locks are expected to post the fastest gains of any security product through 2016. Advances for electronic access control systems will be driven by technological innovations that allow these systems to employ an increasingly sophisticated array of clearance options that are both more difficult to forge and easier to operate. Additionally, falling prices for many types of access controls are making these products more accessible to building owners looking to upgrade from conventional mechanical locks. Sales in value terms will be supported by the continued roll-out and adoption of newer, higher-value technologies, such as smart cards and biometrics, and the increasing adoption of these higher-value technologies.

Demand for locks, including mechanical and electromechanical products, will be driven by the recovery in building construction, given that locks form the base layer of security in nearly all buildings. The expected recovery in existing home sales will also support demand for door locks, as many new homeowners replace the locks after moving in.

Office and lodging segment to lead market gains

The fastest market gains are expected in the office and lodging segment, driven by particularly strong growth in construction activity. In addition, demand will be supported by the adoption of more advanced access control systems and electronic door locks in many of these buildings. The consumer and industrial markets will also post above average gains, as many homeowners and businesses will undertake investment projects that were put off during uncertain economic times. The air transport market will continue to outpace the industry average in light of government regulations and new technologies.

Study Scope

This study analyzes the $14.6 billion US security product industry. It presents historical demand data (2001, 2006, 2011) and forecasts for 2016 and 2021 by product (e.g., access controls, alarms, video surveillance, contraband detection systems, vehicle security products, electronic article surveillance systems, locks, security storage) and market (e.g., consumer, government and institutional, industrial, trade and distribution, financial institutions, air transport).

The study also considers market environment factors, details industry structure, evaluates company market share and profiles 37 industry players, including Tyco International, Honeywell International and ASSA ABLOY.

 










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