Report: Market for School Physical Security Technology Will Double by 2018
A new report on global school campus security estimates the market will grow at a compound annual rate of 14.3% through 2018.
ELMHURST, Ill. – A research firm is estimating that school and university spending worldwide on video surveillance and access control will be more than $1.1 billion four years from now.
TechNavio’s new report on global school campus security estimates the market will grow at a compound annual rate of 14.3% through 2018.
“As the number of attacks on schools has increased, so too has the need for technologically advanced security systems in schools and other educational institutions,” the company claims. “Students have become the soft targets for criminals and terrorists, and it becomes the responsibility of school authorities to be equipped with proper security solutions to minimize the risk of such attacks.”
Schools and universities in the United States are driving much of that growth with them spending approximately $210 million on access control systems and security camera solutions. Nearly 60% of the generated revenue is attributed to K-12 schools and districts, while about 40% is attributed to institutions of higher education.
In the United States, video surveillance is responsible for nearly two-thirds (65%) of the market. The report also anticipates that video surveillance will grow at a higher rate than access control.
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