Forecast: China to Become World’s Largest User of Electronic Security
WATFORD, U.K.
According to new industry forecasting, China will become the largest market in the world for electronic security systems, usurping North America by 2018 and doubling its size by 2030.
The forecast was recently released by Proplan, a division of United Kingdom-based i&i, a global information business providing market intelligence and benchmarking services to the intelligent building controls industry.
In the past five years, electronic security sales in China have experienced an annual growth of 29 percent. CCTV surveillance systems sales have been even greater, surpassing access control and intrusion systems sales by a wide margin, according to the new forecast.
Proplan says it has been charting the performance of the China market since 1994 and that its research indicates China has far outstripped any other market of size during the past 15 years.
The main demand drivers in China are increased output of new building construction, particularly in the commercial and industrial sectors, and rising fear of crime, according to Proplan.
The Chinese government introduced a new five-year plan recently to implement public security programs, which has also provided a boost in sales, particularly for video surveillance and intrusion systems.
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