This week in our Fire & Security industry news round-up we cover the increased spending on Global Defence, what the future may bring for PSIM market and the state of security in Retail and Oil & Gas sectors.
Fire & Security industry news round-up for the week ending 13 January 2017
Global Defence spending rose in 2016 to $1.57 trillion
According to IHS Markit’s annual Jane’s Defence Budgets Report, global defence spending reached $1.57 trillion and “returned to a healthy rate of growth in 2016, kicking off what we expect to be a decade of stronger global defence spending”. Interestingly, the Baltics is the fastest growing region of the areas covered. Due to the Ukraine crisis, the defence spending in this region grew from $981 million in 2014 to $1.45 billion just 2 years later. The US continuously keep the world leader position in defence expenditure.
(Security World Hotel, 12/01/2017)
The future of PSIM market
…is looking bright. Industry experts & analysts predict its growth to be on average about 25% CAGR. They expect to see ongoing significant growth for Enterprise level PSIM vendors, where PSIM is a customised, mission-critical solution for the client, with tailored user interfaces, workflows and standard operating procedures.
(Security World Hotel, 10/01/2017)
Security in the retail sector
The 2016 National Retail Security Survey shows that “retailers’ inventory shrink averaged 1.38% of retail sales, or $45.2 billion in 2015, up by $1.2 billion from 2014. 47% percent of retailers surveyed reported increases in overall inventory shrink in 2015, with shoplifting accounting for the greatest cause with an average loss”. It’s time to step the retail security game up.
(Security Sales & Integration, 12/01/2017)
Intersec 2017 & security in the Oil & gas sector
Safety and security have always been key focus points for the oil and gas industry – being an integral industry to the global economy, it is critical for organisations and professionals in the oil & gas industry to safeguard their interests. Visitors to Intersec can ensure that their assets, people and production output in this sector are safeguarded as the show will highlight a diverse range of products and solutions across the spectrum, from upstream through to downstream for this sector.
Intersec is taking place in Dubai January 22-24, 2017. For 18 years Intersec has proven to be the no. 1 business platform in the MENA region and beyond.
(Security World Hotel, 11/01/2017)
Our weekly fire and security news round-up regularly features supplier news, product launches, events, our own articles, and much more. Check back each week to catch up on the industry news affecting the fire & security sector collated by our team of fire & security recruiters.
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