Electronic Security Market trend
The Electronic Security market dynamics, forces, companies and trends have been determined after conducting a detailed study of the industry for this newly released research report now available with Market Study Report.
Electronic Security Market size is set to exceed USD 60 billion by 2024; according to a new research report.
The state and central governments of various countries are placing high focus on the development and adoption of advanced systems in high-traffic locations such as public roads, transit stations, and malls, contributing to the growth of the electronic security market. For instance, the Indian government in 2014 set up a USD 125 million fund solely devoted to the prevention of sexual violence among women through the installation of security equipment such as surveillance systems at high-risk public locations. These hardware systems are equipped with video analytics and advanced algorithms that allow the detection of criminals. Furthermore, technological advancements have also aided in the improvement of existing technologies such as high-resolution 4k cameras and IP surveillance units.
Crime rates across the world are heavily impacted with the rising penetration of these systems in residential and commercial settings and is anticipated to drive the electronic security market growth. End-users across the world are replacing conventional security systems such as guards and physical body checks with high-tech solutions. Physical body checks in malls and airports can be cumbersome and increase customer discomfort, primarily among women. X-ray body scanners, on the contrary, requires the person to pass through an electronic frame.
The rising trend of the development of smart cities in countries such as China and India is contributing to the high growth of the electronic security market. For instance, the Chinese government has undertaken large construction projects for the development of smart cities imbued with advanced security solutions in cities such as Dalian, Hangzhou, Nanjing, and Tianjin. The rise in traveler population across the world is also leading to the growth of the electronic security market.
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Public-sector applications are the largest revenue-generating segment. Various government bodies are making use of advanced solutions for surveillance and criminal detection applications. For instance, in September 2017, a police department in Arkansas was reported to be using drones for highly specialized missions such as the tracking of a suspect or obtaining an inside view and additional information in a hostage situation.
The North America electronic security market is projected to dominate the global business landscape owing to the government initiatives to integrate these systems into their public safety segment. For instance, the FAA Modernization and Reform Act of 2012 contains provisions to make the unmanned aerial systems (UAS) licensing process easier and quicker for law enforcement officials. Various U.S states are currently conducting trial operations on drones to understand their capabilities and their operational efficiency.
Players operating in the global electronic security market include Axis Communications, BOSCH Security Systems, Hitachi Ltd, OSI Systems, Inc., SDMS Security Products UK Ltd., Siemens AG, MilliVision Technologies, ASSA ABLOY, Scanna MSC Ltd., Thales Group, RedXDefense LLC, etc. Industry players conduct strategic moves such as mergers and acquisitions to sustain growth. For instance, in July 2017, Assa Abloy announced the acquisition of Arjo Systems SAS to strengthen their physical and digital identity solution provisions.
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Table of Content:
Chapter 4. Electronic Security Market, By Product
4.1. Electronic security market share by product, 2016 & 2024
4.2. Access and control syste
4.2.1. Market estimates and forecasts, 2013 – 2024
4.3. Surveillance and alert system
4.3.1. Market estimates and forecasts, 2013 – 2024
4.4. Anti-theft system
4.4.1. Market estimates and forecasts, 2013 – 2024
4.5. Antiterrorist and inspection equipment
4.5.1. Market estimates and forecasts, 2013 – 2024
4.6.1. Market estimates and forecasts, 2013 – 2024
Chapter 5. Electronic Security Market, By Application
5.1. Security system electronics market share, by product, 2016 & 2024
5.2.1. Market estimates and forecasts, 2013 – 2024
5.3. Public sector
5.3.1. Market estimates and forecasts, 2013 – 2024
5.4. Custom service sector
5.4.1. Market estimates and forecasts, 2013 – 2024
5.5.1. Market estimates and forecasts, 2013 – 2024
5.6.1. Market estimates and forecasts, 2013 – 202
5.7.1. Market estimates and forecasts, 2013 – 202
5.8.1. Market estimates and forecasts, 2013 – 2024
Chapter 6. Electronic Security Market, By Region
6.1. Security systems electronics market share by region, 2016 & 2024
6.2. North America
6.2.1. Market estimates and forecasts by product, 2013 – 2024
6.2.2. Market estimates and forecasts by application, 2013 – 2024
18.104.22.168. Market estimates and forecasts by product, 2013 – 2024
22.214.171.124. Market estimates and forecasts by application, 2013 – 2024
126.96.36.199. Market estimates and forecasts by product, 2013 – 2024
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