Forecast: Production in Security Systems Service Activities Sector in Chile

The production in the Security Systems Service Activities sector in Chile has shown a notable increase over the decade. Starting from 69.08 billion Chilean Pesos in 2013, it has risen steadily with a few fluctuations. Particularly noteworthy is the significant jump from 2013 to 2014, with a year-on-year increase of 118.99%. The period from 2016 to 2017 saw stable figures with marginal growth, followed by a noticeable decline in 2018. The last five years have shown an average year-on-year growth rate of 5.19%, highlighting increasing trends post-2018 despite minor dips.

The forecast for 2024 indicates continued growth, reaching 237.88 billion Chilean Pesos. This upward trajectory is expected to carry forward into the next few years, with a forecasted annual growth rate (CAGR) of 2.44% and an overall forecast growth rate of 12.83% by 2028. In 2023, the sector stood at 229.45 billion Chilean Pesos, reflecting a solid foundation for future increases.

Future trends to watch include potentially increased demand for advanced security technologies, integration with smart home systems, and rising cybersecurity needs. These factors could drive growth, highlighting the importance of technological adaptation and innovation within the sector.