While gains in Western Europe will not rise as quickly, they too represent continued acceleration following a period of extended economic weakness. Growth will be driven by a projected recovery in the large US market, benefiting from a rebound in construction, product innovations, and improvement in GDP and consumer income trends. The rapid growth in China will be especially important to the global security equipment industry - in 2018, the Chinese security equipment market will be $11.5 billion larger than it was in 2013, accounting for one-third of global growth over the period.Īlthough lagging the gains of these developing markets, North America and Western Europe are forecast to see significant improvements in security equipment sales. This is true even in China, which was the largest market for security equipment in 2013, with nearly one-fifth of global sales. Despite rapid gains over much of the past decade, the use of many types of security equipment in these countries remains low compared to more mature markets. Additionally, Mexico, South Africa, and Turkey will all post annual gains of at least eight percent. India, China to be fastest growing marketsĪmong individual national markets, the fastest gains are expected in India and China, both of which will generate double-digit annual growth through 2018. Furthermore, the integration of security equipment with smart phones and other electronic devices, as well as with lighting, heating, and other building systems, will aid sales of security equipment. Technological innovations that improve the functionality, accuracy, ease of use, or speed of operation of security systems will also support demand in developed markets. In the US and Western Europe, an improved economic outlook and rebound in building construction activity will provide growth opportunities. In these areas, real and perceived concerns about crime and social unrest, along with economic growth, foreign investment activity, rising urbanization, and growing middle and upper class populations, will boost both the need for and the means to invest in security equipment. The fastest gains will be in parts of Asia, Central and South America, Africa, and the Middle East, where security markets are relatively underdeveloped and the intensity of security product use is low. World demand for security equipment will increase 6.8 percent annually to $126 billion in 2018. World demand to rise 6.8% yearly through 2018 As Quoted In SecurityInfoWatch In developing areas, real and perceived concerns about crime and social unrest, along with economic growth and foreign investment, will boost both the need for and the means to invest in security equipment.
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