Jay Clemens
Research and Markets has released a new report that foresees growing terrorist activities will spur the global surveillance market for hazard protection to a compound annual growth rate of 16.1 percent from 2014 through 2019.
The market analyst said Monday surveillance systems, protection equipment and decontamination services are tools to prevent hazards.
Research and Markets also attributed those hazards to mining, oil and gas exploration sites, virus outbreaks, chemical, biological and nuclear explosions, and terrorist activities.
The report notes a failure in hazard protection services to scan the presence of viruses that cause illnesses and deaths, Research and Markets said.
“It has become necessary for emergency personnel like firefighters, police and emergency medical workers to use protection equipment to safeguard against risk,†Research and Markets said.
The high costs of protection equipment and surveillance systems present a challenge to the global surveillance market, according to the report.
Research and Markets profiles L-3 Communications, Northrop Grumman, Safran and Smiths Detection as among the tier-one market players.
