The Freedonia Group forecasts the global market for private security products and systems to advance over eight percent per annum through 2010, reaching $90 billion. While building construction, especially in North America and China, is expected to decelerate from the impressive 2000-2005 performance, a firming global economy and rising urbanization will continue to drive demand. Also important will be heightened fears of domestic crime and terrorism in many countries, recovery in the travel and tourism industries, and an improved price/performance tradeoff for advanced electronic security systems. The latter include closed-circuit television (CCTV), access controls, anti-shoplifting tags and contraband detection devices.
The US will remain the largest single producer and consumer of security equipment, accounting for nearly one-fourth of total demand. In all, the developed world accounts for some 70 percent of total demand, with North America, Japan and Western Europe all expected to see quickening growth through the end of the decade.