Electronic
security consists of all the systems that use electronic devices and embedded
technology to enhance safety measures and protect human life and physical
assets. The electronic security systems
could perform security operations like surveillance, access control, alarming
or an intrusion control to a facility or an area. Such systems comprises of
alarms, access controls and CCTVs (closed circuit televisions), which are
prominently and broadly utilized. The electronic security provides users with invaluable
video surveillance benefits. Video surveillance can help oversee entry points
in the home or business. They can oversee parts of the business that lack staff
members.
Market Size and Forecast
The global electronic security
market is expected to expand at a CAGR of 13.7% during the forecast period i.e.
2017-2024. This is
due to the rising incidences of robbery, theft, shoplifting, and violent
attacks across the globe. The increasing in the frequency of the security
breaches and attacks has led the government and large enterprises to adopt
electronic security products that aim to eliminate events such as anti-social
activities.
Further,
due to the emergence of several city campaigns and initiatives across the
globe, electronic security has become a critical part of city’s core mandate as
it has the ability to provide faster, real-time data for better safety and
security standards. The rising population and migration of people from rural to
urban areas is attracting investments toward the development of smart cities.
Market Segmentation
Our
in-depth analysis of the global electronic security market includes the
following segments:
By Product
Type
Video
Surveillance Systems
Intrusion
Alarm systems
Fire Alarm
systems
Access
control systems
IP and
Analog CCTV
Electronic
Article Surveillance and Detection Systems
Electrified
Door Hardware
Hybrid
Video Recorder
Network
Video Recorder
By End
Users
Airports
Railways
Energy and
Utilities
Hotels
Banking
Retail
Government
Education
By Application
Residential
Commercial
Global
Electronic Security Market is further classified on the basis of region as
follows:
By Region
North
America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity
Analysis
Latin
America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth &
Opportunity Analysis
Europe
(U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands &
Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity
Analysis
Asia-Pacific
(China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market
size, Y-O-Y growth & Opportunity Analysis
Middle
East and Africa (GCC, North Africa, South Africa and Rest of MEA) Market size,
Y-O-Y growth & Opportunity Analysis
Growth Drivers and Challenges
The
increasing adoption of electronic security systems by government agencies,
commercial establishments and manufacturing industries is the major factor that
will boost the growth of the electronic security market. The rise in
malpractices, robbery, terrorist attack, illegal activities etc. has increased
the need for security systems in private and public places, which is expected
to boost the growth of global electronic security market.
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Further,
the number of online or internet crimes is also rising resulting in the need
for internet monitoring systems, IP based surveillance and access systems.
Various government organizations have surged their spending on security
systems. Wide varieties of electronic security systems are available as per the
requirement in different prices ranges, which is anticipated to drive the
global electronic security market. Moreover, the construction of smart cities
will expand the market to the global level. Smart cities provide efficient
transportation facilities, traffic management systems, smart grids, better
healthcare facilities, and also adopt advanced technologies in the construction
process. The constantly increasing urban population is attracting investments
towards the development of smart cities, which will demand the adoption of
electronic security systems due to their ability to provide faster, real-time
data for better safety and security. Increasing investments towards the
development of smart cities across the world especially in countries such as
China, India, Saudi Arabia, and Qatar will create demand for advanced
electronic security solutions throughout the forecast period. Furthermore, the
decline in the prices of security products is expected to increase the demand
for security products over the forecast period. The prices of security
solutions, such as IP cameras have dropped and with a new array of
technologies, there is no need of an internal server to store the camera data,
as it will be stored in the cloud. This will make it easier and cost-effective
to install security solutions. The several companies are cutting down on the
number of such security guards and switching to security services, in which a
third party is alerted whenever there is any suspicious activity. This, in turn,
cuts down on costs and false alarms. Thus, the reduction in the prices of
security system solutions will propel the market over the forecast period. The
increasing adoption of security systems by the commercial sector including
retail stores, office buildings, hotels, restaurants, and warehouses is
expected to fuel the growth of the market over the few years. This is due to
the rise in the criminal activities, especially in retail shops.
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Security
solutions such as Electronic Article Surveillance (EAS), intruder alarms, and
surveillance systems in the retail sector helps controlling the inflow and
outflow of products, leading to reduced retail shrinkage. However, the lack of
awareness among the consumers regarding the availability of the different
security products in the market and benefits offered by them act as a restraint
towards the market growth.
North
America held the largest revenue share in the electronic security market and is
expected to maintain its dominance over the forecast period, followed by Europe
and Asia Pacific. The constantly rising number of retail stores and facilities
in the US due to the entry of several international retailers and the awareness
to combat retail shrinkage will increase the installation of electronic
security devices such as video surveillance systems and alarms, which in turn
is expected to boost the market of the electronic security systems in the North
America region.
The growth
of the electronic security market
in Europe will be driven by significant upgrading and integration of highly
advanced security systems by commercial and residential buildings and rising
government and enterprise focus on safeguarding human life, physical and
digital assets and infrastructure. Asia Pacific electronic security market is expected
to expand at a significant CAGR during the forecast period. Growing prominence
of Asian countries as a manufacturing hub for electronic security systems,
robust construction activity driven by rise in the GDP, rising disposable
incomes of an expanding base of middle class population, and growing number of
civil infrastructure projects are the key growth drivers in the region.
Key Players
Bosch
Company
Overview
Key
Product Offerings
Business
Strategy
SWOT
Analysis
Financials
Honeywell
International, Inc.
A2 Systems
All-tag
Anixter
Axxon
HIK Vision
Digital
Nortek
Hanwa
Techwin
ASSA ABLOY
Scope and
Context
Overview
of the Parent Market
Analyst
View
Segmentation
The Global
Electronic Security Market is segmented as follows:
By Product
Type Market Size & Y-O-Y Growth Analysis
By End
Users Market Size & Y-O-Y Growth Analysis
By
Application Market Size & Y-O-Y Growth Analysis
By Region
Market Size & Y-O-Y Growth Analysis
Market
Dynamics
Supply
& Demand Risk
Competitive
Landscape
Porter’s
Five Force Model
Geographical
Economic Activity
Key
Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent
Trends and Developments
Industry
Growth Drivers and Challenges
Key
Information for Players to establish themselves in current dynamic environment
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Email:
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