Finland poised to take share of the global safety and security market
Finland has the expertise and potential to tap into the global 190-billion-dollar security and safety market. A study, commissioned by Tekes, the Finnish Funding Agency for Technology and Innovation, reveals that Finnish businesses already have a considerable amount of know-how that could allow them to grow into worldwide security and safety experts. (Tekes Press Release 31.5.2010)
"Security and safety are present in many different sectors of society, and the
scope continues to grow. Internationalisation is making the security needs of
businesses more and more complex, while government agencies have to build
preparedness for new kinds of crises, and the ageing of the population is
creating demand for better safety in housing, for example," explains Suvi
Sundquist, Manager of Tekes Safety and Security Programme.
The SecLi survey (Growth areas and opportunities of the security and safety business in Finland), was commissioned by Tekes and conducted by VTT Technical Research Centre of Finland and Aalto University School of Economics. The survey mapped out growth areas and opportunities within the security and safety business in Finland. It estimated that the sector currently generates a turnover of approximately EUR 7 billion for Finnish businesses.
International market reports value the global market at around USD 140-190 billion. The global market is growing at a staggering speed especially in certain segments. The SecLi survey identified approximately 450 Finnish businesses that operate in the security and safety sector and that could benefit from the market's growth projections.
"Areas in which Finland excels in this sector include information security, logistics and care services, among others. Networks, innovative environments and technological know-how are also important for creating a good foundation for Finnish businesses to grow into international security and safety experts," Ms Sundquist says.
"Security and safety play critical roles in many business sectors, and organisations are looking for comprehensive solutions for their needs. This is why service providers should approach security and safety from a wider perspective and link their businesses into networks instead of focusing on individual products and technology. Sectors where security and safety can be incorporated into existing service provision present the most versatile potential for growth," says Eija Kupi, Project Manager of the SecLi survey at VTT Technical Research Centre of Finland.
"Overall, the security and safety sector has a lot of potential for new business. However, in order to be able to tap into that potential, businesses have to be able to identify and really understand their customers' needs. Increasing business know-how and building new kinds of networks are vital for turning the Finnish security and safety business into an export commodity," says Arto Rajala, Research Director at Aalto University School of Economics.
Finland also invests heavily in the security and safety sector. Finnish organisations participate actively in the EU Framework Programmes, for example, and Tekes also has its own Safety and Security Programme.
The objective of the SecLi survey was to explore the growth potential of the security and safety sector and to assess the current structure of security and safety business in Finland. The survey was based on interviews with security and safety experts, business statistics, workshops, and numerous international market reports. The interviewees and workshop participants included representatives from security and safety businesses and organisations, institutions of higher education, research institutes, government authorities, and sponsors.
Tekes Safety and Security Programme promotes the development of commercial security and safety solutions for international markets. The programme is divided into sub-sections focusing on security and safety solutions for the public sector, the corporate sector, and citizens. The programme is set to run until 2013 and it has a total budget of EUR 160 million, of which half originates from Tekes.
For more information on Tekes Safety and Security Programme, please visit http://www.tekes.fi/eng/security
The findings of the SecLi survey are available online at http://www.vtt.fi/inf/pdf/tiedotteet/2010/T2534.pdf