Security products & Consumer Market!

With growing crime population, the consumer market for security products has never been lucrative. Here are some statistics related to home intrusion, burglary, car theft, employee theft….

   Burglary & Car Theft: “Every 13 seconds a home intrusion is committed.2.5 million+ home intrusions are committed each year. Only 17% of the homes in U.S. have a security system. 2,500+ cars stolen per day… almost 2 cars a minute. Identity theft is the fastest growing crime in the U.S.” “In Canada, car theft was a billion dollar racket from 2003 -2009 and still is but the figures have come down slightly” (Google)

   Residential Break in’s –     A residential break-in happens every 90 seconds in Canada. More than 80% of break-ins occur during daylight hours. Most illegal entries are made by amateur burglars without the use of sophisticated tools. Most burglars enter through a basement or ground-floor door or window. Most burglars rely on concealment, speed, and force to gain entry to a home (https://www.sgicanada.ca)

   Employee Theft Statistics: “Amount stolen annually from U.S. businesses by employees – $50 billion. Percent of annual revenues lost to theft or fraud – 7% Percent of employees who have stolen at least once from their employer – 75%” (Google)

More Statistics: (www.statcan.gc.ca/tables-tableaux/sum-som/l01/…/legal50a-eng.htm)

    Though these statistics seem to be just from North America, they are evident worldwide! Since, forensics use fingerprints, CCTV footage, and crime scene investigation; the consumer market for forensics and security systems is growing worldwide. For example, if businesses like distribution centers and retail stores were to take fingerprints of their employee on employment application forms, it would narrow down suspects for forensics teams. Also, security cameras and footage in many residential and commercial areas may further be used as evidence in the courtroom to successfully fight a case with high lawyer fees. Car dash cams and built-in cameras may also record and send car theft footage for vehicle recovery. Hardwired GPS not only allows monitoring stations to track trucks and hazmat vehicles but also allow consumers to track their own vehicles on the Internet. Apps for I-phones and androids allow individuals to recover their lost or stolen cell phones by tracking their location via GPS. Furthermore, television shows, dramas, and youtube videos allow the general population to understand the nature and extent of crime in their neighborhood. However, the most lucrative industry to benefit from crime statistics is the Insurance industry. With car theft on the rise, the insurance of vehicles with good mileage such as Toyota, Honda, and other Japanese cars has gone so high that one has to think about not only the retail value of a vehicle but also the monthly payments that come along with it. In fact, car theft of specific cars has proven detrimental to sales. Home Insurance and monthly packages for home security systems have risen in areas with high crime statistics. Also, major department stores have driven their prices up for warranties on consumer electronics that cover theft. Hence, home buyers, car enthusiasts as well as consumers of electronics have to think twice before making investments and purchases. Password protected laptops, computers and cell phones have become a rising trend due to data theft and hacking activities worldwide. Hence, the consumer market for forensics and security systems is growing worldwide.

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