Asia Pacific region accounts for the highest expenditure in the homeland security sector
(PRWEB UK) 24 November 2012
According to The Global Homeland Security Market 2012-2022 - Country Analysis: Market Profile available from Reportbuyer.com, the global homeland security market will hit $197.9 billion in 2012 and continue at a CAGR of 3.55%, reaching $280.6 billion by 2022.
The report analyses the six main market categories which include Infrastructure, Counter Terrorism, Maritime Security, Police Modernization, Border Security and Cyber Security.
The demand for homeland security equipment is anticipated to be driven by internal security threats such as terrorism, illegal border infiltration, piracy, drug trafficking, cyber espionage and critical infrastructure security among several others.
The market is expected to be dominated by Asia Pacific, followed by North America and Europe. The Asia Pacific region accounts for the highest expenditure in the homeland security sector as emerging economies such as India and China execute extensive modernisation programs for their respective police forces and other security infrastructure which were neglected in the past few decades.
While the global homeland security market is definitely an attractive and lucrative one, the sheer scale of funding required to effectively implement the new technologies presents an obstacle for market growth. This especially holds true in light of planned defence budget cuts announced by various countries globally and especially by European countries. High costs have led to many governments redirecting their budgets towards more manpower-intensive solutions or towards relatively commoditised and cost-effective systems.
The report The Global Homeland Security Market 2012-2022 - Country Analysis: Market Profile is now available from Reportbuyer.com
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