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Security Equipment (Industrial Report) - UK - October 2014

“Manufacturers will need to protect their position from new entrants in the technology sector as the penetration of wireless security systems increases, while product development is expected to continue at a rapid pace.”
– Ben Harris, Industrial Analyst

This report answers the following key questions:

  • With burglar alarms still installed in just 30% of existing households, how can security manufacturers model products to increase penetration in the residential sector?
  • What is the expected forecast for construction and maintenance activity and to what extent will this influence demand for security alarms and systems?
  • How will competition develop in the market for security alarms and systems and what represents the major threat going forward for manufacturers?
  • What does the greater penetration of wireless products imply for demand conditions in the various product sectors of the market over the coming five years?

This report covers the UK market for security equipment, including the following product areas:

  • Intruder alarm systems
  • CCTV
  • Integrated systems
  • Centrally monitored alarms
  • Access control

All market and industry statistics up to 2014 are quoted at actual prices for the year, and therefore include manufacturer price increases. Forecasts for 2015 onwards are made at 2014 prices and therefore exclude inflation.

The UK security equipment market is diverse and while the UK and global markets feature a number of large, well-known brands, there are also a multitude of smaller manufacturers. Separate markets also exist for the rental of security equipment and the sale of security equipment.

With such a high level of industry fragmentation it is not possible to review all the companies in a report of this type. This report is not a directory of industry participants, and the following provides a synopsis of some of the operators selected as being representative of a cross sample of types of operator rather than necessarily the largest industry participants.

For all financial periods commencing on or after 1 January 2005, all companies quoted on the London Stock Exchange or other European exchanges are required to prepare their consolidated financial statements using the International Financial Reporting Standards (IFRS). UK companies previously reported their financial statements under UK Generally Accepted Accounting Principles (GAAP).

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Table of contents

  1. Executive Summary

      • The market
        • Figure 1: UK market for security alarms & systems, including sales and rental income, 2010-14 (£ million)
      • CCTV sector in focus as sales drive market growth
        • Figure 2: The UK market for security alarms & systems, by product type, 2010-14 (£ million)
      • Security equipment sales projected to top £4 billion in 2019
        • Figure 3: Forecast UK market for security alarms & systems, 2015-19 (£ million at 2014 prices)
      • Market factors
        • Falling domestic burglaries reduce security risk for households
          • Figure 4: Incidence of domestic crime, in England and Wales, 2009-14 (000 incidents)
        • Business investment growing again from 2013
          • Figure 5: Business investment in the UK, 2010-14 (£ million seasonally adjusted)
        • Care sector consultation part of wider acceptance of cameras in society
          • Companies
            • Secom targets lone workers and home security market
              • Cooper’s UK re-brand follows climbing sales
                • What we think
                • Introduction

                  • Issues in the market
                    • Definitions
                      • Methodology
                        • Abbreviations
                          • Market positioning
                            • The supplier
                              • The customer
                                • The regulators
                                • UK Economy

                                  • Overview
                                    • Inflation
                                      • Interest rates
                                        • Consumer spending
                                          • Manufacturing
                                            • Business investment
                                              • Imports
                                                • Exports
                                                • Market Factors

                                                  • Market factors
                                                    • Recovering service sector exceeds production growth...
                                                      • Figure 6: UK economic output, by sector, 2012-14 (Quarterly percentage change in output value)
                                                    • ...while rates of return are also highest in the service sector
                                                      • Figure 7: Profitability of UK private non-financial corporations, by sector, 2009-13 (Percentage net rate of return)
                                                    • Business investment rises for fifth consecutive quarter
                                                      • Figure 8: Business investment in the UK, 2010-14 (£ million seasonally adjusted)
                                                    • Rising construction activity from 2013 boosts demand
                                                      • Figure 9: Construction output in Great Britain, by type, 2009-13 (£ million)
                                                    • Number of business premises in the UK recovering after falling sharply to 2011
                                                      • Figure 10: Number of business premises in the UK, 2009-13 (Number of outlets)
                                                    • Retail and entertainment premises among those most affected by crime
                                                      • Figure 11: Experience of crime in the last 12 months, in England and Wales, 2012 and 2013 (000 incidents)
                                                    • Domestic burglary rates continue to fall
                                                      • Figure 12: Incidence of domestic crime, in England and Wales, 2009-14 (000 incidents)
                                                    • Home ownership continues to decline as private rentals rise
                                                      • Figure 13: Trends in tenure, in England, 2008-13 (000 households)
                                                  • Market Size

                                                    • Key points
                                                      • Market size
                                                        • Expansion reaches 5% despite intensifying price competition
                                                          • Figure 14: UK market for security alarms & systems, including sales and rental income, 2010-14 (£ million)
                                                      • Market Segmentation

                                                        • Key points
                                                          • Segmentation by product type
                                                            • Figure 15: The UK market for security alarms & systems, by product type, 2010-14 (£ million)
                                                          • Market watching as CCTV sector marches ahead
                                                            • Intruder alarms riding residential demand wave
                                                              • Access control demand rising in line with refurbishment activity
                                                                • Segmentation by revenue type
                                                                  • Figure 16: UK sales of security alarms & systems, by revenue type, 2010-14 (£ million at MSP)
                                                                • Segmentation by end-use market
                                                                  • Figure 17: Analysis of security system installations, by end-use application, 2010-14 (Share of total installations)
                                                              • Market Trends

                                                                • Key points
                                                                  • Millenial households open eyes to CCTV
                                                                    • Care home plan indicative of wider consent for cameras
                                                                      • 4K CCTV and home automated alarm systems lead new product developments
                                                                        • Wireless and remote control dominate new access control launches
                                                                          • Higher definition and intelligent camera solutions launched in 2014
                                                                          • Supply Sources

                                                                            • Key points
                                                                              • Production
                                                                                • Figure 18: UK production of burglar/fire alarms for buildings, 200913 (£ Million at MSP)
                                                                              • Imports
                                                                                • Figure 19: UK imports of electric burglar/fire alarms for buildings, 2009-13 (£ million at CIF)
                                                                              • Exports
                                                                                • Figure 20: UK exports of electric burglar/fire alarms for buildings, 2009-13 (£ million at FOB)
                                                                                • Figure 21: UK exports of security equipment, by type, 2013 (£ million at FOB)
                                                                            • Industry Structure

                                                                              • Key points
                                                                              • Industry Development

                                                                                  • Recovery prompts proliferation of new companies in security industry
                                                                                    • Figure 22: Analysis of the changes in the structure of the security systems services sector, 2009-13 (Number of outlets and number of businesses)
                                                                                  • Broad-based growth in turnover for small and medium-sized security firms
                                                                                    • Figure 23: Analysis of the financial structure of the security systems services sector, 2012 and 2013 (£000 and number of outlets)
                                                                                  • Structure by employment
                                                                                    • Figure 24: Analysis of the employment structure of the security systems services sector, 2012 and 2013 (Employment level and number of outlets)
                                                                                • Secom

                                                                                    • Recent company activity
                                                                                      • Figure 25: Financial analysis of Secom, 2009-13
                                                                                  • Cooper Security/Eaton’s Security Business

                                                                                      • Recent company activity
                                                                                        • Figure 26: Financial analysis of Cooper Security/Eaton’s Security Business, 2008-12 (£ million)
                                                                                    • Adi-Gardiner

                                                                                        • Figure 27: Financial analysis of Adi-Gardiner, 2009-13 (£ million)
                                                                                    • Honeywell Security UK

                                                                                        • Recent company activity
                                                                                          • Figure 28: Financial analysis of Honeywell Security UK, 2008-12 (£ million)
                                                                                      • ADT Fire & Security

                                                                                          • Recent company activity
                                                                                            • Figure 29: Financial analysis of ADT Fire and Security, 2009-13 (£ million)
                                                                                        • Chubb Systems

                                                                                            • Recent company activity
                                                                                              • Figure 30: Financial analysis of Chubb Systems, 200913 (£ million)
                                                                                          • Chubb Fire & Security

                                                                                              • Recent company activity
                                                                                                • Figure 31: Financial analysis of Chubb Fire & Security, 2009-13 (£ million)
                                                                                            • UTC Fire & Security

                                                                                                • Recent company activity
                                                                                                  • Figure 32: Financial analysis of UTC Fire & Security UK, 2008-12 (£ million)
                                                                                              • Tunstall Group

                                                                                                  • Recent company activity
                                                                                                    • Figure 33: Financial analysis of Tunstall Group, 2009-13 (£ million)
                                                                                                • Assa Abloy

                                                                                                    • Recent company activity
                                                                                                      • Figure 34: Financial analysis of Assa Abloy, 2008-12 (£ million)
                                                                                                  • Demand Forecast

                                                                                                    • Key points
                                                                                                      • Construction forecast
                                                                                                        • Steady growth anticipated in construction activity
                                                                                                          • Figure 35: Forecast construction output in Great Britain, 2015-18
                                                                                                        • Repairs, commercial and private housing construction to boost output
                                                                                                          • Figure 36: Forecast construction output in Great Britain, by type, 2015-18 (£ million at 2014 prices)
                                                                                                      • Market Forecast

                                                                                                        • Key points
                                                                                                          • Market size
                                                                                                            • Figure 37: Forecast UK market for security alarms & systems, 2015-19 (£ million at 2014 prices)
                                                                                                          • Mobile movement to continue in 2015
                                                                                                              • Figure 38: Forecast UK market for security alarms & systems, by product type, 2015-19 (£ million at 2014 prices)
                                                                                                            • CCTV sales poised for boost from care home sector
                                                                                                              • Access control to undergo wireless shift
                                                                                                                • Industry
                                                                                                                  • Competition to intensify as wireless changes the supplier landscape
                                                                                                                  • Further Sources and Contacts

                                                                                                                    • Trade associations & advisory bodies
                                                                                                                      • Trade magazines

                                                                                                                      Companies Covered

                                                                                                                      To learn more about the companies covered in this report please contact us.

                                                                                                                      Security Equipment (Industrial Report) - UK - October 2014

                                                                                                                      US $1,288.43 (Excl.Tax)