A recent market intelligence study conducted by the BSRIA on the Global Overview Analysis of Fire and Security (GOA F&S) demonstrates that the global fire detection and electronic security systems market is continuing to rapidly grow; with UK statistics revealing the fire sector recorded at nearly five per cent per annum, and security expected to increase by two-and-a-half to three per cent every year.
Understandably given recent events, terrorism has become a significant force for the security systems market and led to wider acceptance of surveillance; although a major price decrease in CCTV cameras was also detected. In addition to cloud-based security-as-a-service (SECaaS) offerings showing steady development, analysis indicates smartphones and lighting solutions are also starting to appear as a ‘human-centric’ security solution.
Senior manager of Energy and Smart Technologies at BSRIA Worldwide Market Intelligence, Jeremy Towler, said: “The aims of this report were to acquire an overview of the essential metrics and characteristics of the market by size, segmentation, trends, drivers, forecasts, distribution channels. Worth some $97 billion, this lucrative market will continue to attract new entrants, with innovative technologies and novel business models that can disrupt traditional business.”
This study forms part of BSRIA’s regular multi-client report programme, and the Global Overview Analysis studies represent a value-for-money overview of the essential metrics and characteristics of the market. Both reports showcase the latest developments and trends in the market for building fire detection and electronic security systems products, value added services and service and maintenance.