At the ESA Leadership Summit, the results of the annual ESA MegaTrends study showed optimism and investment in the industry.
At the ESA Leadership Summit, the results of the annual ESA MegaTrends study, which polled association members on their businesses’ finances, product selection, and future plans, showed optimism and investment in the industry.
According to the study, average annual revenue growth increased 4.3 percent in 2012 after growing 3.3 percent in 2011 and 1.7 percent in 2010, showing strong upward movement. Much of that can be attributed, however, to companies with more than $2.5 million in annual revenue, which saw an average of 7.6 percent growth versus 1.4 percent for companies up to $2.5 million in annual revenue. When it comes to product categories with the most potential, members are projecting the most growth in annual revenue over the next two years from video surveillance/security (9.1 percent), electronic access control (7.2 percent) and intrusion detection (6.9 percent). Of the non-security categories, energy management (5.8 percent) and home automation (5.7 percent) are expected to see growth as well.