Abstract
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.
Study coverage
The study also considers market environment factors, reviews electronic
security technology, details industry structure, evaluates company market
share and profiles leading industry competitors including Checkpoint Systems,
General Electric, Honeywell International, L-3 Communications, Siemens,
Stanley Works, Tyco International, and United Technologies.
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