Electronic Security Market - 10% Growth Forecast to 2024

The North America Electronic Security Market will dominate the global business landscape due to the government initiatives to integrate these systems into their public safety segment.

SELLBYVILLE, Del., Dec. 6, 2017 /PRNewswire-iReach/ --  Global Electronic Security Market will be valued USD 60 billion by 2024; according to a new research report by Global Market Insights, Inc. 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.

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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.

The surveillance and alert system market is anticipated to exhibit substantial growth during the forecast timeframe. The reduction in component and raw material costs is contributing to the decline in the electronic security market price trend. Remote monitoring systems are increasingly finding application in developed regions such as U.S and Western Europe. Installing a home security solution with remote monitoring capabilities allows the homeowner to access security cameras and video units situated inside the residential location in real-time.

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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.

Browse key industry insights spread across 290 pages with 120 market data tables & 40 figures & charts from the report, "Electronic Security Market Size By Product (Access & Control System, Surveillance & Alert System, Anti-Theft System, Antiterrorist & Inspection Equipment), By Application (Environmental, Public Sector, Custom Service Sector, Postal, Telecommunications, Residential), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Potential, Competitive Market Share & Forecast, 2017 - 2024" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/electronic-security-market

Chapter 3.   Electronic Security Industry Insights

3.1.  Industry segmentation

3.2.  Industry landscape, 2013 - 2024

3.3.  Industry ecosystem analysis

3.3.1. Vendor matrix

3.4.  Technology & innovation landscape

3.4.1. Remote monitoring security systems

3.4.2. Intelligent door locking system

3.4.3. Biometric technology

3.4.4. License plate readers

3.4.5. Surveillance drones

3.4.6. IP network cameras

3.5.  Regulatory landscape

3.5.1. Data Protection Act 1998

3.5.2. British standards for video surveillance equipment

3.5.3. Health Insurance Portability and Accountability Act (HIPAA) security regulations

3.5.4. ISO standard

3.5.5. Australian Design Rule 25/02 – Anti-Theft Lock

3.5.6. BSi PAS 68 and 69

3.6.  Industry impact forces

3.6.1. Growth drivers

3.6.1.1.    Rising instances of property theft and break-ins in the U.S

3.6.1.2.    Growing penetration of home security solutions in the UK

3.6.1.3.    High risks associated with the terrorist attacks in U.S, India and Europe

3.6.1.4.    Growing trend of automation and smart technology in the Asia Pacific

3.6.1.5.    Technological advancements in security electronics in Asia Pacific and the U.S

3.6.1.6.    High demand for wireless and contactless technologies in the U.S. and UK

3.6.2. Industry pitfalls and challenges

3.6.2.1.    High costs associated with security system electronics

3.6.2.2.    Lack of technical knowledge to use the security systems

3.7.  Growth potential analysis

3.8.  Porter's analysis

3.9.  Competitive landscape

3.9.1. Strategy dashboard

3.10.      PESTEL analysis

Browse Full TOC @ https://www.gminsights.com/toc/detail/electronic-security-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Media Contact: Arun Hegde, Global Market Insights, Inc., +13028467766, sales@gminsights.com

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SOURCE Global Market Insights



2017

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Business, Science & Tech


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Electronic Design Automation, Electronics Performance Measurement, High Tech Security, Computer Electronics, Surveys, Polls and Research



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