The global electronic security systems market is poised to reach at market size of USD ~59 billion by end of year 2022 growing with ~30% CAGR. The growth in the electronic security systems market is driven by the increasing smart cities, rising incidents of security concern, improvement in network infrastructure and technologically advanced security products. Further, the rising demand for CCTV cameras & video surveillance system and investments by government in security projects are boosting the growth of the global electronic security systems market in the upcoming future. However, the factors hindering the growth of the Electronic Security System Market are privacy & security issues, high cost of electronic security systems and lack of consumer awareness.
The electronic security systems provides security solutions within work places, commercial places, shopping centers, railway stations and other public & private places. The system is also used for remote zone. They are utilized as access control systems, fire recognition, avoidance systems and attendance record systems.
This study provides an overview of the global electronic security systems market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast focusing on the market opportunities for the next five years for each region.
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15 November 2016 – Bosch Security Systems and Sony came into partnership for their video security business. The two companies joined hands by technically cooperating in the field of video security solutions. Sony’s has developed superior image quality technology combined with Bosch’s expertise in video analytics that will deliver high tech security products to customers of both companies and set new standards
February 6, 2018– Identiv, Inc., has acquired 3VR Security, Inc., a video technology and data analytics company. It is anticipated that this combination will provide Identiv with a full range of technologies to deliver its vision for secure, pervasive yet frictionless premises security, situational awareness and business insights.
Sep 01, 2016– Honeywell International announced the addition of new features to its growing portfolio of video technology to help security professionals with simple design which connects building systems. The company has also added several devices to it’s equIP series cameras which is designed to produce better picture quality in the most-challenging conditions. They also announced the latest version of its MAXPRO network video recorder (NVR), which enable operators’ by providing them features that quickly store and locate archived video, as well as easily create integrated surveillance systems.
Electronic Security Systems Market
The electronic security systems market can be segmented into its type, end-users and regions. The market has various types such as access control, intrusion detection, vehicle security and video surveillance. Video surveillance systems accounted for the largest market share to help in improving the customer’s business by providing effective solutions for loss prevention, and merchandising among others. Various end-users of electronic security system comprises of healthcare, BFSI, residential and others. The healthcare, and banking & finance segment accounted for the largest market share, since it provides security solutions to monitor organizational premises and prevent unauthorized access.
The key players of global electronic security system market report include 3D Datacom (U.S.) (Sweden), Bosch Security Systems (Germany), 3VR Security, Inc. (U.S.). (U.S.), Honeywell international Inc. (U.S.), A&B Security Group (U.S.) , Panasonic System Networks Co. Ltd (Japan), Sony Corporation (Japan), Schneider Electric (France), Cisco Systems, Inc. (U.S.) , A-TEC security system, Inc. (U.S.) and others.
Electronic Security System Global Market – Regional Analysis
North America market is estimated to acquire largest market share in the electronic security system market owing to aspects such as increasing safety concerns among corporate and residential sector. North American countries, especially U.S. accounted for the largest market share in global electronic security system market due to factors such as high adoption of the advanced security technology by commercial and government end-users, growing focus on critical infrastructure protection, strict government regulations and advancements in the security surveillance systems. Asia Pacific market is anticipated to be fastest growing due to the presence of major electronic component manufacturing hub. Other aspects such as increasing number of Chinese security system manufacturers is expected to boost the growth of electronic security market in the region.
Electronic Security System Global Market – Competitive Analysis
The market of Electronic Security System market appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
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- Electronic security system Manufacturers
- Research firms
- Consultancy firms
- Semiconductor Manufacturers
- Technology Investors
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