38-THE KEY SUCCESS FACTORS

38-THE KEY SUCCESS FACTORS - To differentiate them from the...

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THE KEY SUCCESS FACTORS The key success factors in the security equipment Industry are the result of largely favorable economic conditions, rising business and personal incomes, renewed strength in building construction spending in the USA, Japan. The strongest market gains have been registered in developing parts of Asia, Eastern Europe, Africa and the Middle East, and Latin America. Security markets in these areas were, for the most part, underdeveloped, and product demand has been fueled by generally strong economic environments, new business formation and foreign investment activity, increased urbanization, and growing middle and upper class populations (contributing to social tensions and criminal activity), and ongoing concerns about the threat of new terrorist attacks. (Freedonia group, 2006)
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Unformatted text preview: To differentiate them from the rest, most Korean security manufacturers have chosen to develop new technology as strong investment on R&D. these companies holds dozens of patents for its designs and has experienced high annual growth over the last five years and boasts a complete surveillance product line. Video Surveillance products will post much stronger sales advances than mechanical security equipment through 2012. New generations of security products have much greater capabilities than previous devices. The Global demand for security equipments to climb 7.8% yearly through 2012 to over $US 90 billion, China, India, Russia and Brazil are forecast to record some of the most robust sales increases, according to Freedoinia group, 2008....
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