SOURCE: MarketResearch.com

MarketResearch.com

November 30, 2010 10:08 ET

World Demand for Security Equipment to Grow 7.2% Annually Through 2014

ROCKVILLE, MD--(Marketwire - November 30, 2010) - MarketResearch.com has announced the addition of Freedonia Group Inc's new report "World Security Equipment" to their collection of Security Equipment market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2876362

World demand for security equipment is projected to climb 7.2% annually through 2014 to more than $95 billion. In general, the strongest market gains will be posted in developing parts of Asia, Eastern Europe, Africa and the Middle East, and Central and South America where security markets are relatively underdeveloped. In these regions, product demand will be fueled by generally strong economic environments, new business formation, foreign investment activity, greater urbanization and growing middle and upper class populations. As a result, these regions will increasingly have both the need for and means to invest in security products. While most of these countries are still growing from a small base, China's gains stem from a larger base as the country surpassed Japan to become the world's second largest market for security equipment in 2009. Still, market penetration for many types of security equipment remains low in China, with additional room to grow.

The North American region is also expected to see total gains well above the global average through 2014. Advances will be driven by rapid growth in the US, where security equipment spending will benefit from a strong cyclical rebound in construction and capital investment spending from a low 2009 base following a period of economic contraction and a tight credit environment.

Gains in Western Europe and Japan will be more modest. While these markets will also experience growth resulting from improving economic conditions, rising business and personal incomes, and ongoing concerns about crime, the relative maturity of most security equipment markets in developed areas will constrain future increases in demand.

For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2876362

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