North America 57 mark et gro wth The securit y ser vices mark et in North America is es timated to more than 19 percent of the g lobal securit y ser vices mark et with a tot al siz e of out sourced guar din g of U SD 18 billion The a v er a g e lon g term gro wth is es timated at 57 percent on an annual basis Gro w th The securit y ser vices mark et in North America has his torically gro wn fas ter than GDP and the trend is forecas ted to continue U SA and Canada are mature and indus trializ ed mark ets while M e xico is r ather an emer g in g mark et with hig h gro wth in demand for securit y coupled with great future potential Driving f orc e s Heig htened securit y conscious ness impro v ed economic conditions and increased demand for v alue added ser vices are e xamples of drivin g forces in North America P o sition and pre senc e Securit as is the mark et leader in the U SA and one of the leadin g securit y ser vices pro vider s in Canada and M e xico L atin America 810 mark et gro wth The mark et for securit y ser vices in L atin America is es timated to represent close to 14 percent of the g lobal securit y ser vices mark et The tot al siz e of the outsourced guar din g is e xpected to amount to U SD 12 billion The a v er a g e lon g term gro wth in the re g ion is assumed to be 810 percent on an annual basis Gro w th The L atin American securit y ser vices mark et is e xpected to continue gro win g w ell abo v e the w orld a v er a g e o v er the comin g y ear s Driving f orc e s Economic liber alization increased foreign in v es tment and usa g e of securit y ser vices that is lo w in comparison to other mark ets will continue spurrin g gro wth P o sition and pre senc e Securit as is present in se v en L atin American countries Ar g entina Chile Colombia Cos t a Rica Ecuador Peru and U rugua y In Ar g entina Chile and U rugua y w e are mark et leader s Europe 35 mark et gro wth The European securit y ser vices mark et is es timated to almos t 30 percent of the g lobal securit y ser vices mark et with a tot al siz e of U SD 27 billion of out sourced guar din g The annual lon g term gro wth in the re g ion is es timated at an a v er a g e of 35 per cent The lon g term gro wth in W es tern Europe is ho w e v er belie v ed to amount 23 percent per y ear while Eas tern Europe is es timated to gro w 79 per cent on an annual basis Europe 35 mark et gro wth North America 5 7 mark et gro wth L atin America 8 1 0 mark et gro wth 14 Securit as Annual R eport 2012 Oferin g and mark ets