U.S. electronic security market hit US10 billion in 2008
In the same year, the industry’s
commercial, institutional and government sectors produced 180,000 jobs
nationwide and had a national economic impact of nearly $18 billion, according
to the report.
The United States Security Market Report
and Economic Impact Study analyzes the non-residential building security market
as a whole and within geographic regions and product sectors.
The top market driver for the purchase
of security in the U.S.
in 2007 was the rapid development of technology, with most renovations
including the replacement of legacy systems with newer technologies such as
biometrics and RFID.
SIA projects the annual growth of the
video surveillance market to reach 6.4 per cent in 2008. Both access control
and intrusion detection are projected to hit 6.4 per cent each. According to
the report, fire detection is expected to see a growth of 4.8 per cent, while
electronic article surveillance (EAS) will reach 5.5 per cent.