According to a recently published report on the state of the global homeland security market by Homeland Security Research Corp. (HSRC) , changes in the risk profile around the world will see the market for homeland security translate into growth for certain regions and areas of technology, while others stagnate or even decline.
The Global homeland security market once dominated by the U.S. and Europe is now seeing growth in new markets including China and the Middle East.
New and maturing sensor and ICT technologies create new market niches and fresh business opportunities. These shifts are set translate the homeland security market from $305 billion 2011 market to a $546 billion by 2022.
The headlines from the report include:
Developments in the Aviation Security market: Aviation security historically dominated by the U.S. and the EU during 2002-2012, will be overtaken by China and the Gulf states during the 2014-2022 period. These regions will combine to a market share of more than 60% of the global sales of the new aviation security systems and devices.
Big Data: The HLS & Public Safety related Big Data technology market is forecast to grow at a 2014-2022 CAGR of 37%, the fastest growing HLS & Public Safety technology sector. The U.S. market share is 51% while the EU market share is forecast to take more than 21% of the market.
Cross-border illegal immigration, organized crime, smuggling of goods & narcotics, and terror are the main drivers of the land border and maritime security markets growth.
Safe Cities: Right now over 2300 municipalities around the globe are executing or planning their Safe City projects to enhance civilian security, safety, local economy and quality of life. A Safe City price tag ranges from billions of dollars (e.g., Dubai $2.3 billion, Guangdong Province “Safe City Corridor” $6 billion) to a few millions for a community “Safe City” project.
According to recent reports (e.g., the UN) climate related natural disasters grew during the recent decade by more than 13%. The Natural Disasters Preparation & Response equipment cumulative 2014-2022 market is forecast to surpass the $150 billion level.
Cybersecurity: Driven by cyber-terror and cyber-crime, the cybersecurity 2014-2022 market is forecast to be the largest HLS & Public Safety technology sector, with cumulative sales of more than $700 billion.
The message is clear – the global security market is changing, and those involved in supplying these markets need to keep pace with the change or risk being left behind.