Growing need for security products in government
Demand for security products and systems from the government and institutional markets is forecast to rise 5.1 percent annually to almost $3.8 billion in 2016, according to the Freedonia Group, a Cleveland-based market research firm. In 2011 governments and institutions spent about $2.9 billion on security products and systems.
The government and institutional markets have accounted for the largest share of demand for locks among all sectors of the economy. Government and institutional applications have been the second leading markets for access control systems, contraband detection equipment, video surveillance equipment, vehicle security products, and electronic article surveillance (EAS) systems.
The strong demand for access control and vehicle security systems reflects the large number of government and institutional buildings and the sizable vehicle fleets maintained by governments and institutions. Contraband detection equipment is strong in these settings due to the number of government and institutional buildings that use metal and explosive detection equipment as well as the use of contraband detection devices by the U.S. Border Patrol and U.S. military.
Go here for ordering information on Freedonia study number 2917, “Security Products to 2016.” Visitors to the site can buy the full report or sections.
The April Government Product News will feature descriptions and information on a variety of security products from exhibitors at the 2013 GovSec: The Government Security Expo and Conference that takes place May 13-15 in Washington. Go here for Govpro’s 2012 GovSec preview.