According to a new report out this week from IMS Research, the market for security systems integration in the Americas is predicted to exceed $30 billion in 2016 and grow at an average rate of more than 7 percent until then.
The research firm said that the U.S. is expected to remain the largest market in the Americas, but faster growth is being forecast in Latin American countries such as Brazil, which will play host to the World Cup and Olympics over the next four years.
"The Latin America market is a really exciting place right now for systems integration. A lot of technology providers are trying to establish themselves in this marketplace, including the large international systems integrators. In the U.S., it’s a different picture entirely and I believe we’re seeing the start of consolidation," said IMS Research analyst and report author Paul Bremner in a statement.
In addition, IMS said that the Americas market remains highly competitive with the five largest integrators accounting for less than 20 percent of market. Security systems integrators are also beginning to see increased competition from traditional IT integrators that have begun entering the space and taking away market share.
"The security systems integration competitive environment is really interesting because the range of companies in the market is huge. At one end there are the enterprise integrators, like Johnson Controls and Siemens. At the other end, are five-man companies serving a product or geographic market niche," Bremner said.
For more information about the "Security Systems Integration – World – 2012 Edition" report, visit www.imsresearch.com.