CAPE TOWN, South Africa, April 16 /PRNewswire/ --
The high rate of crime in South Africa has influenced property owners and businesses to look at alternative ways of securing their assets. Armed robberies, ATM bombings and other related violent crimes have forced property owners to migrate towards the integration of different security systems in order to come up with an effective and reliable security solution. More advanced features are also becoming available, making security products more attractive to end-users.
New analysis from Frost Sullivan (http://www.buildingtechnologies.frost.com), finds that the South African industrial and commercial security systems and services market earned revenues of US$3.45 million in 2007 and estimates this to double by 2014. The South African residential security systems and services market earned revenues of US$1,381.5 million in 2007 and this should reach US$2,224.9 million by 2014.
If you are interested in the virtual brochures for these two analyses, which provide a brief synopsis of the research and the tables of contents, then send an e-mail to Patrick Cairns, Corporate Communications, at firstname.lastname@example.org, with your full name, company name, title, telephone number, company e-mail address, company website, city, state and country. Upon receipt of the above information, a brochure will be sent to you by e-mail.
High levels of crime have influenced the growth of the security industry in South Africa, notes Frost Sullivan Research Analyst Sostina Shiri. Ongoing threats of workplace violence, school violence, corporate espionage, theft and vandalism are boosting the uptake of security systems and services.
As a result, the installation of security systems has risen significantly on the list of end-users' priorities. Although the initial cost of equipment remains high, end users are increasingly becoming aware of the different types of security equipment available and the potential benefits this equipment can provide.
The initial cost of acquiring a security system and the on-going subscription cost for maintenance and support services are however restraints to industry growth.
Although prices have gone down in recent years, advanced security systems are still beyond the reach of many end-users in the market, explains Shiri.
The South African police have not been able to cope with the high crime rates and are working in conjunction with the private security industry to effectively combat crime. Security companies that can take advantage of these strategic alliances are set to benefit from this opportunity.
However, the lack of effective legislation has seriously hindered the growth of the security industry. The current legislation specifically focuses on the guard services sector and has little or no impact at all on the operations of the electronic security sector.
In this market, the only legislation of note is the private security regulatory Act (PSIRA) that focuses on the training and remuneration of guards as well as the procedures required to register a security company, explains Shiri. Very little effort has been made to regulate the electronic security systems market.
Barriers to entry in the security industry are low and new companies are seeing the opportunity, but lack professionalism in the way they conduct their business. This leads to customers not fully realising the full benefits of investing in security technologies.
South African Residential Security Systems and Services Markets and South African Industrial and Commercial Security Systems and Services Market are part of the Building Management Technologies Growth Partnership Service programme, which also includes research in the following markets: South African HVAC Market, South African Facilities Management Market and, South African Lighting Equipment Market. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
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South African Residential Security Systems and Services Markets M30E South African Industrial and Commercial Security Systems and Services Market M30A Contact: Patrick Cairns Corporate Communications - Africa P: +27-18-468-2315 E: email@example.com
Patrick Cairns, Corporate Communications - Africa of Frost Sullivan, +27-18-468-2315, firstname.lastname@example.org/Logo: http://www.newscom.com/cgi-bin/prnh/20081117/FSLOGO