Security Alarm Systems to Grow Over 5% Annually Through 2021
October 3, 2017 (Investorideas.com Newswire) Sales of security alarm systems are projected to increase 5.1% per year through 2021, reaching $4.9 billion, about the same as electronic security product demand overall. Faster gains will be limited by inconsistent replacement rates in many markets, as well as building owners using fewer life safety alarms than is recommended, either as a way to cut costs or due to general lack of awareness. In addition, sales of intrusion alarms will continue to be limited by the view among many end users that these alarms are a nonessential expense. These and other trends are presented in Electronic Security Products US Market Forecasts, a new study from The Freedonia Group, a Cleveland-based industry research firm.
A variety of factors will drive demand, including:
- continued gains in construction activity, since most alarm systems are installed during initial construction or major renovations
- product innovations that provide value-added characteristics, such as false alarm mitigation, connectivity and interoperability capabilities, and improved ease of use, which will support both replacement and upgrade rates and value gains
- ongoing consumer and end user education efforts, which aim to increase awareness of how many life safety alarms are needed in various settings and how frequently theses alarms should be replaced
Sales of all types of electronic security products are expected to increase 5.0% annually to $17 billion in 2021. Gains will be driven by new installations. As a result, growth will benefit from growing construction activity in both the residential and nonresidential markets and the rising number of business establishments. Shifts in technology have driven system updates, including:
- the shift from legacy analog to digital, Internet Protocol (IP) video surveillance systems
- the shift away from basic card-based technologies such as magnetic stripe to more secure types such as proximity and, more recently, smart cards
Electronic Security Products US Market Forecasts (published 09/2017, 133 pages) is available for $4900 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email email@example.com.
Related studies include:
- #3558 Access Controls Market in the US (August 2017)
- #3553 Video Surveillance Equipment Market in the US (August 2017)6+
About The Freedonia Group, a division of MarketResearch.com
The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Security studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://www.investorideas.com/News-Upload/
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.