Overview
Safety and Security issues around the world continue to fuel a growing demand for new equipment and technology. The increasing importance of security in day-to-day business operations has generated new security challenges for corporations across all industry sectors. The unstable climate ushered in by terrorism and the skill of identity thieves, industrial spies and other intruders to out-smart existing security technologies have forced Canadian businesses to continually update or purchase new security systems that provide leading-edge security control.
Advanced security technology developed in the United States has allowed U.S. firms to offer products that are more efficient and often superior to comparable Canadian equipment. Industry experts state that the need for security solutions that require the integration of innovative and existing technologies and equipment will fuel the demand for increasingly sophisticated equipment. Since U.S. technology is recognized as a front-runner in technological development in this industry, U.S. companies will be in a good position to take advantage of this trend.
Industry sources report the size of the Canadian market for security products and services to protect commercial buildings and facilities is predicted to grow 7 to 8 percent in 2009 to approximately US$2 billion. Total imports represent 93 percent of total market demand. Imports from the United States of US$545 million represent 30 percent of the total import market.
Best Prospects/Services
While the market includes locks, keys and alarm systems, growth in demand will prevail for electronic physical access control systems, led by biometric, smart card and other non-contact technology utilizing software that can be used to secure both physical access to facilities and access to data stored on computers.
Opportunities
U.S. safety and security companies wanting to develop new sales in Canada benefit from a privileged access to numerous business facilitation programs offered by the U.S. Commercial Service year round.
Read the full market research report
