Favorable forecast for security industry
A new strategic business report on the security industry explains how many alarm companies weathered the economic recession and paints a rosy picture for the industry over the next few years.
The market research report, announced today by Global Industry Analysts, says technological innovation, increased concerns about crime, and the greater affordability of security systems and services are all factors driving growth.
The report, titled “Alarm Monitoring Services: A Global Strategic Business Report,” predicts that the global alarm market will reach $43.3 billion by 2015.
One reason for that, the report says, is that “security systems are fast becoming lifestyle products for the consumers, thus opening [a] new high-end market for the manufacturers and service providers.”
The report says that to offset the slump in the home construction industry during the recession, manufacturers, distributors and dealers “adopted novel technologies and services.” Now, the report says, “companies offering various novel and unique products as well as services are garnering considerable business in the burglar alarm market.”
The report notes: “Consumers are increasingly demanding alarm monitoring companies for the management of the administrative functions of CCTVs, alarm systems and access controls.”
Also, while the report states that some companies folded during the slump, when the lack of demand for new homes had a negative impact on the home intrusion market, “the rate of home as well as business break-ins increased at a considerable pace.”
“This offered a whole new segment of consumers to the alarm companies, post recession,” the report continues. “Gradual revival of the housing sector and growing customer awareness about the need to install a cost-effective and efficient home security system is likely to fuel demand for alarm monitoring services in the near future. Moreover, increased investment by government entities in various home security products as well as services would provide further impetus for growth of homeland security services.”
Major players profiled in the report include ADT Security Services, G4S PLC, Global Security Solutions, Guardian Protection Services, Niscayah Group AB, Protection One, Reliance Security Group, Securitas AB, Siemens AG, UTC Fire & Security, and Vector Security.
More information on the report is available at: http://www.strategyr.com/Alarm_Monitoring_Services_Market_Report.asp