New statistics published by IMS Research on the global market for vehicle entrance control equipment forecasts growth within the gate automation industry to further decline to $805.7 million in 2010, following a decline of 7 percent in 2009.
“With residential construction down, new market opportunities for gate automation companies continue to slow,” says Paul Everett, report author and director of security research at IMS Research. “Hit hard by the construction downturn, the Americas market continues to toil showing no signs of recovery until 2012.”
Similar market declines in Western Europe resulted in the second lowest growth worldwide with only Eastern European countries and the Middle East showing moderate gains, according to Everett.
“Asia remains the catalyst to growth, and will continue to pull the market through these difficult times posting double digit growth each year through 2013,” he says.