The World Market for Security: a Fully-Fledged Business Sector
The global security market in its broadest definition has, for the first time, surpassed the 500 billion euro mark in 2014 (507 billion): 5.8% against 5.2% the previous year.
Largely dependent on the economic climate and the increase of terrorist threats, the pace of growth in the industry has evolved erratically over the past fifteen years: it was about 7% per year during its best period (2000 to 2008), but suddenly fell to 1% in 2009, to stabilise around 5% at the beginning of this decade.
2015 is expected to follow the same line, with an increase in growth around 6%. However disparities seem to show up by region: growth should continue at a steady pace in North America. In Asia, a new key market for safety, it will be less pronounced due to the economic slowdown of China. However, recovery is expected to speed up in Europe, driven by a somewhat more vibrant economy. But this trend is very contrasted worldwide: the economic woes of some emerging countries (Brazil in particular) will obviously weigh-in on the demand for security, while spending will also accelerate in Africa.
For the first time in 2014 the weight of security expenditure in Asia / Middle-East exceeded that of Europe. This is a symbol of the historical evolution of the global security market. One should note that the very sensitive Middle East zone has recorded a solid + 12% increase in security spending, due to the many conflicts and threats. In the meantime, Europe has steadily been losing ground (-10 points in 15 years) due to a modest growth rate for security budgets, particularly since 2010 (+ 2.5% on average). As North America roughly retains its position as the market leader, the “Rest of the World” area are gaining market shares, approaching 10% of all global spending.
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This news is a press release provided by Milipol Paris 2015.