U.S. Demand for Electronic Security Systems to Reach $15.6 Billion in 2012
The U.S. electronic security products and systems market is expected to increase 7.8 percent per year to $15.6 billion in 2012. Growth for electronic security systems continues to be driven by a high perceived risk of crime, despite a long-term trend of falling crime rates. Ongoing technological improvements that enhance the accuracy, ease of use and speed of operation of security systems will also bolster spending. The falling prices of many high-end electronic security components have further boosted gains by increasing market penetration across a broadening customer base. These and other trends are presented in Electronic Security Systems, a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.
Access controls are expected to achieve the strongest growth through 2012 because of technological innovations that allow 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. Advances will be driven by the declining costs and improving performance of these systems, and the growing use of biometrics integrated with more conventional access control technologies. Gains will also be spurred by federal government mandates regarding the addition of biometric controls into its systems.