Global Security Equipment and Services Market Grows Year by Year

According to the Freedonia report, global demand for security equipment will increase by 7.4% annually by 2014. Among them, the demand for security equipment in China, India, Russia and Turkey will increase by double digits each year, while the revenue in North America will be much higher than the global average. Electronic security products will still dominate and surpass the mechanical type of security products.

The study titled "World Security Equipment by 2014" by Friedonia analyzed the $70 billion global security market. The study also considers market environment factors, specifies the industrial structure, assesses the market share of the company, and introduces 39 industry participants.

Another report of Friedonia’s “World Security Services by 2014” report analyzed the US$153 billion global security service market. The report predicts that by 2014, the global private contract security service market will increase by 7.4% annually. Among them, Asia, Eastern Europe, Africa, and the Middle East are in the stage of development. The private contract security service market has the most significant return, and the United States will still be the largest consumer country.