The demand for high-tech security systems is expanding rapidly in the United States, and a new report from the Security Industry Association (SIA) provides a first-of-its-kind, comprehensive look at the growth and evolution of this multi-billion dollar market.
The United States Security Market Report and Economic Impact Study, which analyzes the non-residential building security market as a whole and within geographic regions and product sectors, provides more than 300 pages of data about the market today and over the next several years.
"This information is not available anywhere else," association CEO Richard Chace said. "Manufacturers, distributors and installers of security equipment finally have one definitive source that not only details the U.S. market but, also, outlines the direction in which it is heading."
Using analyses of construction data and other sources, the report calculates that the electronic physical security market in the United States totaled nearly $10 billion in 2007 and projects annual growth for the next few years. It breaks those numbers down by geography and product technology, showing what areas have the greatest growth potential, and analyzes the internal processes that lead to security system purchases and installations. Finally, it offers a detailed look at government's role, from enacting public policy to establishing standards to spending billions of dollars to secure federal, state and local buildings.
"We wanted to produce a document that would show how big the U.S. electronic security market is, where the opportunities for growth are and how companies can take advantage of those opportunities," Chace said. "That is exactly what this report does. Any company, large or small, that is operating in the United States or planning to do so can make a qualitative leap in its strategic planning with the information in this report."