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Table of Contents Introduction |
Market Overview
The government and armed forces have long recognized the need for document destruction. In fact, early shredders were designed primarily for military use. Commercial businesses, however, represent two-thirds of the $300 million market for shredder sales in the US. The primary requirement for these companies is to maintain confidentiality and privacy of information, from both internal and external sources. According to the American Society for Industrial Security, industrial espionage will account for over $60 billion in losses for American industry this year. A large part of this loss stems from the misuse of paper documents, stolen formulas, marketing plans, customer lists, etc. The loss is growing each and every year.
New state and Federal regulations are holding companies, financial institutions and healthcare providers responsible for inadequate protection of personal client information. These regulations have established both civil and criminal penalties for failure to comply with these guidelines. |
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