by Corinne Gangloff
October 5, 2017
Sales of security alarm systems are projected to increase 5.1% per year through 2021, reaching $4.9 billion, about the same as electronic security product demand overall. Faster gains will be limited by inconsistent replacement rates in many markets, as well as building owners using fewer life safety alarms than is recommended, either as a way to cut costs or due to general lack of awareness. In addition, sales of intrusion alarms will continue to be limited by the view among many end users that these alarms are a nonessential expense. These and other trends are presented in Electronic Security Products US Market Forecasts, a new study from The Freedonia Group, a Cleveland-based industry research firm.
A variety of factors will drive demand, including:
Sales of all types of electronic security products are expected to increase 5.0% annually to $17 billion in 2021. Gains will be driven by new installations. As a result, growth will benefit from growing construction activity in both the residential and nonresidential markets and the rising number of business establishments. Shifts in technology have driven system updates, including:
Electronic Security Products US Market Forecasts (published 09/2017, 133 pages) is available for $4900 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email [email protected].
Related studies include:
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