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Review date: 16/12/2025
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The European electronic security market has the potential to double within the next five years, according to an industry report.
The European electronic security market has the potential to double within the next five years, according to an industry report. That growth can only happen if the fragmented supply side is restructured so that more companies can achieve the necessary minimum economic size to invest in digital technology, say i&i. Visit www.proplan.co.uk. Suppliers are finding there is no quick fix to rapid growth in this market as the share of business taken by volume sales is relatively small, and growth through acquisition could be expensive and messy . There are few relatively big suppliers available and far too many small companies that would be difficult to digest, say the analysts. The i&i study concludes that business strategy must therefore focus on specialisation, alliance and consolidation. Despite major consolidation over the last ten years, it is still a very fragmented market, the analysts say. No single player takes more than 15 per cent of the business and the top ten suppliers take no more than 30 per cent of the systems business in any one country. The biggest part of the market is shared by thousands of small suppliers that have less than one per cent of the market and only supply the local market. The i&i study suggests that this is a very robust and attractive market for some 35 per cent of all business is for retrofit/replacement and extension projects and maintenance and service will account for at least a further 15pc of turnover for most major players. The market has experienced strong growth across all EU(7)2 countries, averaging 6.23pc in the last six years. The study forecasts that in 2002 aggregate growth will be 6.8pc but this rate of growth will increase to 7.4pc in 2003. This study argues that demand is being driven primarily by public concern over crime and terrorism, backed up by political willingness to act and the trend towards more sophisticated systems. But the latent opportunity is determined by building construction output and the existing building stock.
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In Europe
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In some EU countries, their interpretation of the European Convention on Human Rights has restricted demand for CCTV and access control, but there is evidence to show that their concern is gradually disappearing and a pent-up demand is now being realised. Technological developments have been rapid and digitalisation, IT networks and webenabled products are now revolutionising control and remote management. This multi-user, multi-tasking environment is reducing the need for expensive manned guarding and bringing benefits to the end user in gathering management and process information, say i&i. Consequently, more clients are retrofitting their existing systems with these capabilities.
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About digital
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Digital technology is providing the opportunity to produce products and systems that will meet customer demands for more secure, safe, flexible and productive working environments and drive forward growth. This in turn will allow higher margins to be made through both product or total solutions business.
