Tag: The Freedonia Group
Freedonia sees positive future for US safety and security drones
May 9, 2018Spencer Ives
CLEVELAND, Ohio—The market for drones in safety and security applications in the U.S. has a bright future, according to a report from The Freedonia Group, a research firm based here. The company predicts the market to reach a value of about $1 billion by 2022.Freedonia valued the safety and security drone market at $145 million in 2016 and the firm expects it to grow to $250 million, “then we're going to have it more than quadrupling from that point into 2022,” Jennifer Christ,...
Security camera sales in US to grow
August 30, 2017Paul Ragusa
Demand for security cameras in the U.S. is projected to increase 7.2 percent annually through 2021 to $2.8 billion, according to a new report entitled Video Surveillance Equipment Market in the U.S. from The Freedonia Group, a Cleveland-based research firm.
The company found that gains will result from a variety of factors that support replacement demand and sales of higher value, upgraded versions, including:• Ongoing product advancements in camera technology.• Increasing affordability...
US alarm market to reach $4.9 billion by 2021
August 15, 2017Spencer Ives
CLEVELAND, Ohio—The Freedonia Group, a research firm based here, projects that the U.S. security alarm systems market will reach $4.9 billion by 2021, starting at $3.8 billion in 2016, with a CAGR of 5.1 percent between 2016 and 2021.“The biggest driving factor … is going to be the continued growth of construction activity going forward,” Katherine Brink, industry analyst, Freedonia Industry Studies, told Security Systems News. Brink added that this factor effects both residential...
Demand for security equipment projected to rise 7 percent a year through 2016
May 20, 2013Rich Miller
CLEVELAND—Global demand for security equipment will increase 7 percent annually to $117 billion in 2016, driven by a strong rebound in construction activity and advances in electronic security technology, according to a new report from The Freedonia Group.The research company, based here, said electronic products accounted for nearly 65 percent of security equipment sales in 2011, with the segment expected to post much stronger sales gains than mechanical security products through 2016.“Demand...