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[August 09, 2013]
Homeland Security Market is growing with a CARC of 5.54% & Expected to Reach $544.02 Billion by 2018 - New Report by MarketsandMarkets
Aug 09, 2013 (PRWeb.com via COMTEX) -- According to a new market research report, "Global Homeland Security and Emergency Management Market, 2013 - 2018," published by MarketsandMarkets, the homeland security market is expected to reach $544.02 Billion by 2018 & growing with a CARC of 5.54% which analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia, and Rest of the World.
Browse: 32 Market Data Tables 87 Figures 175 Pages and In-Depth Table of Content "Homeland Security Market"
Early buyers will receive 10% customization of this report.
The global homeland security market is estimated to be US$415.53 billion in 2013 and is expected to register a CARC of 5.54% to reach US$544.02 billion by 2018. The cumulative market for homeland security during the forecast period is estimated at US$2842.47 billion. However, about 15% of that total is expected to be the capital expenditure.
Homeland security functions to avert any terrorist attacks on the homeland and to provide resilience in case of an attack. It also has to provide credible security against cyber fraud and cyber espionage and provide detection and protection capabilities against CBRN threats.& The threat of cross border terrorism, cyber crime, piracy, drug trade, human trafficking, internal dissent, separatist movements has been a driving factor for the homeland security market.
The risk of terrorist attack has led to an increase in aviation security spending. The illegal arms and drug trafficking and immigration has led to heightened border and seaport security and has increased the demand for explosive detection systems, body scanners and baggage screening systems. The threat of a cyber attack disrupting public and private network and infrastructure has driven the cyber security spending across the past decade.
The general IT modernization has greatly improved record keeping and coordination of cases across the internal security department and thus has gained wide acceptance across the world and is seen as yet another driver in the homeland security sector. Similarly, the need for effective command, control and intelligence apparatus for the first responders has led the need for effective C3I systems. The upgrading of border security and the demand for effective immigration control has fueled the need for biometrics, fixed surveillance devices, and unmanned aerial vehicles.
US and Europe are expected to remain as the main market for homeland security systems and the region has the top industry participants who cater to this sector. The second biggest growth opportunity is from the Asia Pacific region where the growing economies are set to increase their homeland security expenditure. Opportunity also exists in Middle East, followed by Latin America and Africa. Although Asian market especially China's internal security spending is significantly higher than US, it is of less interest as the market is restricted to western firms.
Scope of the Report This report analyzes the Global Homeland Security market based on: Homeland security market by value The market share analysis by the various sub-sectors Regional trend analysis and market share In-depth country wise analysis of the Homeland security market according to sub-sectors In addition to market sizes and forecasts, the report also provides a detailed analysis of the market trends and factors influencing market growth, offering in-depth geographic analyses of the Homeland security market in North America, Europe, Asia, Latin America, Middle East and Africa.
The report draws the competitive landscape of the Homeland security market, providing an in-depth comparative analysis of the technological and marketing strategies the key players are adopting in order to gain an edge over the their competitors.
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